Core banking software solutions

This is our flagship product. This product continues to evolve over since 2005 with bleeding edge functionality in the banking domain. It is the best CBS you can buy in the world as it is the only CBS which is based on a true 100% browser based technology, 3 tier clean architecture using JAVA in the front end and a fully intertwined database structure encompassing all the various modules. It runs in a large number of banks across the world acting as a backbone for all operations across all facets of banking.


BankMillTM is a Core, centralized banking solution offered by Mindmill Software Limited. It is a 100% browser-based, user friendly centralized full fledged banking application that allows a bank to conuct its business with its customers along with full MIS reports and internal management tools.  It uses the state of the art technology where the application runs in a browser and the front end is not required to be loaded in each computer. It is a result of several man decades' worth of work by some of the most brilliant minds in the industry including Computer Science engineers from IITs, MBA's from IIMs, domain experts from the banking industry and of course our own past experience of our earlier banking software products. It uses the state of the art technology which benefits the bank customer by offering new functionality, the end user by making it user friendly and the administrator by making it easier to install, administer and 100% tamper proof


BankMillTM provides the following benefit to the bank and its customers:

  • Centralized Database
  • Single Application Deployment
  • Global Employee
  • Global Customer

Unique Features & Benefits

The unique features of this product have been grouped under the following heads:

  • Cost Reduction Features
  • Security Features
  • Administration Features
  • Customer Related Features and
  • Accounting Features
  • Multi-Lingual Support (All languages supported by Unicode are supported)
  • Transliteration Support for Input and Output for Various Indian Languages is Supported
  • Themes & Personalization

These are explained in greater detail below:

Cost Reduction Features

BankMillTMoffers the lowest total cost of ownership and operations compared to any other CBS available in the market. This has been made possible by incorporating the following features:

  • All  the modules in the system are 100% integrated with each other. There is no movement of files and no manual processes are needed to accomplish inter-module transactions. All inter-module and inter-branch transactions happen in true real time.
  • Applet and browser based architecture implies that only required data can be sent between the client and the server. This data is compressed leading to further lowering of bandwidth requirements. Typically a bank requires no more than 64 Kbps bandwidth between the branch and the data center.
  • Since we use Applets we can encrypt and decrypt the data at the client end. This removes the requirement to have IIIrd party security layer such as VeriSign leading to large annual savings in IIIrd party software licenses.
  • Since the software is browser based, the software and subsequent patches get loaded automatically from the application server. It does not have to be loaded manually on each node individually leading to large savings in administration costs and safety by ensuring that all nodes are running the same software.  
  • Reports are available in Java which implies the bank does not have to invest in IIIrd party reporting tool licensing.

Security Features

  • Audit Trails: Audit trail of each transaction in the system is kept with date, time and user-id stamp.
  • 3DES Encryption: All data between a device and the backend is transmitted after encrypting it with industry standard 3DES encryption. This prevents any snoopers to sniff the channel and get financial data information.
  • Md5 Encryption: All passwords are kept using industry standard MD5 encryption. This prevents the administrator from knowing the passwords of any user.
  • Data Security: Data is kept secure using database login and password
  • Access Security: By Role and Rights explained more in Administration Features

Administration Features

  • Fully integrated with a variety of delivery channels such as Internet Banking, Mobile Banking, Email Alerts, Touch Screen Kiosks and IVR systems.
  • Product Definition: Highest possible level of parameterizing available
  • Interest Definition: High level of parameterization available
  • Masters, Control Values and other Parameters: : High level of parameterization available Service Outlet Concept: Each branch or delivery channel is designated as a service outlet and each transaction can be tracked at a service outlet level.
  • Maker Checker Concept: Allows the bank to have double or triple checks in place by having one person make an entry, another to verify it and sometimes if necessary a third to re-verify or enable it.
  • MindConnect™: Allows the bank to provide financial transaction access to IIIrd party solutions such as ATMs and Credit Card Institutes such as MasterCard and Visa.
  • Multi Lingual
  • Roles and Rights: A bank can create various roles (designations) based on its Organization Chart and associate view, create, modify and delete rights on each screen as well as access to the screen itself.

Customer Related Features

  • Unified Relationship Management across related but different customers and Multiple Accounts of the same Customer
  • Single account book means all transactions across all delivery channels are made at the same place and the customer can get a unified view of his account.
  • Accounts can be opened at any level including teller.
  • All customer services are available, including cash, clearing, and transfer.
  • Completely parameterized standing instructions input and execution including prioritized debit from multiple accounts and rule based credit to multiple accounts.
  • Cash pooling of all accounts of a customer for interest purposes with rule based amount outflow to different accounts to allow customers the maximum benefits across branches
  • Statement printing is available from all the various delivery channels

Accounting Features

  • Real time transaction processing
  • Straight through processing
  • Tree Based multi level GL Head Structure
  • Single bank-wide General Ledger, Profit & Loss and Balance Sheet for all modules
  • Detailed MIS including Asset Liability Reports
  • Text and WYSIWYG (what you see is what you get) based Reports
  • Inter-branch Reconciliation
  • True Multi Currency

Other Unique Features

The other unique features of this product are:

  • Easy to use screens which require little scrolling up and down and only relevant fields are present
  • Ease of Navigation through a left hand tree. A user can click on a node/type an abbreviation and go to any screen immediately.
  • Access to account based on account number, account name, customer number, and member number.
  • Regulator based Image based Inward Clearing File based inward clearing
  • Deposit Receipt, Passbook, Remittance, Membership Certificate, Share Certificate, and Notice Printing

Functionality Offered

All of the following functionality is provided by BankmillTM in form of an “All Functionality Integrated Single Banking Software”.

Customer related Software

  1. Banking
    • CASA (Current and Savings Accounts) Module
    • FD/RD (Fixed Deposit and Recurring Deposit) Module
    • Loans Module
    • Loan Origination Software
    • Bill Purchase Module
    • Remittances Module
    • Clearing Module
    • Lockers Module
    • SI (Standing Instructions) Module
    • NPA (Non Performing Assets) Module
    • ALM (Assets Liability Module) Module
    • Trade Finance (including LC/BG)
    • Report Generator
    • Printing Module
    • Risk Management
    • Document / Signature Linking
  2. Bill Collection (Inward & Outward)
  3. Payment Gateway
    • RTGS/NEFT (Real Time Gross Settlement and National Electronics Funds Transfer)
    • ATM (Automatic Teller Machines)
    • SMS (Short Message Service) Banking
    • Mobile Banking
    • IMPS (Immediate Payment Service)
    • Internet Banking
    • ECS (Electronic Clearing House)
    • ACH (Automated Clearing House)
    • CTS (Cheque Truncation System)
    • SWIFT
  4. ATM
    • Card Management
    • Health Check Dashboard
    • ATM Cash Management Software
    • ATM Front End Software
  5. Other Hardware Support
    • Passbook Printing
    • FD Printing
    • Cash Dispenser
    • Passbook Kiosk 
    • Microfinance Hand Held Device Integration
  6. Anti Money Laundering (with KYC (Know Your Customer))
  7. Service Branch Clearing
  8. Cash Pooling
  9. Currency Chest
  10. FOREX &  Cash Denomination Management
  11. Cashier Management
  12. HO (Head Office) Modules
    • RBI/Central Bank Reports
    • Interbranch Reconciliation 
    • Share & Member Module
  13. Agent Banking
  14. Agent Commissions (including Chain based commission)
  15. Micro Finance Module
    • Group Management
    • Group Loans
    • Group Collection
    • Loan and Security Account Linkage
    • Sinking Fund
    • Interest Free Period
    • Flat/Reducing Interest Setup
    • Agent Based Payment and Collection

Company / Bank Related Software

  1. Core Accounting Software
    • Regular Company Accounting
    • Asset Management with Depreciation
  2. Treasury (Front Office / Middle Office / Back Office) for:
    • Investments
    • Borrowings
  3. HR
  4. Payroll
  5. Inventory and Fixed Asset Module & Depreciation
  6. Legal & Recovery
  7. Budgeting

Other Supplementary Features 

  1. General Featuresa.
    • Automatic Inter-branch Reconciliation
    • Real Time Transaction Processing
    • Global Employee, Global Bank, Global Customer
    • Real time generation of ALL reports including bank/branch balance sheet
    • Balance sheet is available before day end.
    • Centralized day end of all branches is possible from data center
  2. General Security Features
    • Login user control
    • Remote log-in control
    • Menu and screen locks
    • Time based user login
    • Automatic logout after predefined time
    • Login name/date/time/activity/tracking
  3. Secured Transaction Security Features
    • Detailed transaction and error logs generation
    • Product Based User/Transaction control
    • Amount Based Transactions control on users
    • Confirmation of all transactions by higher authority
    • Dual authorization for specific transactions
    • Database security ensured by data encryption 
    • Provision of back log entry
  4. Monitoring Aspects Security Features
    • Calendar Based Access control
    • Audit trail of all operations/Audit Lock
    • Exceptional Report of all breaches of security protocols 
    • Report of all users with status


The structure is a 3 tier structure and consists of a browser based application written in applets. The applets communicate with a servlet via sockets. Data interchange happens via encrypted and compressed XML structures.

 The software has been written in Java and can work with any standard RDBMS such as MS SQL, and Oracle.

IIIrd Party Software Requirements

Front End Machine / Client Computer

  • OS: Windows XP 64 bit Professional / Linux
  • JRE
  • Internet Explorer or any other browser

Application Server & Backup Application Server

  • OS: Windows server / Linux
  • Tomcat
  • JDK with JRE

Database Server & Backup Database Server

  • OS: Windows Server
  • Database: MS SQL


  • Antivirus (Enterprise Edition) for Servers + Individual licenses for each client machine


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Business Development

Mindmill Software Limited

Mindmill Corporate Tower

24A Film City, Noida, UP 201 401, India

Tel: +91 120 414 2000



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