FiniNET

Time Management is the order of the day, Convenience and user friendly system is an invitation to people to try and use any system. Everybody wants methods which would save time and make daily tasks easier and that is exactly what Internet banking does. Internet Banking, of late, has assumed considerable importance in view of the fact that it is easy to access without any time constraints. The account holder is not required to rush to the Bank to transact his business within the banking hours. Not only the tech savvy new generation but also people from the older lot have taken to this mode of banking as it offers the facility of sitting in their office or home and transact their banking needs without being bothered with time constraints. Payment of utility bills, transfer of funds from one account to another, placement of deposits are some of the most frequently operated modes in internet banking in addition to viewing balances and picking statement of accounts through internet banking mode. E-Banking provides seamless Supply Chain Management solution.

This form of Banking, in the days to come is definitely going to grow exponentially. It helps getting right information at right time, Simplifies reconciliation by allowing flexibility to download the above information including the trade and the collection reports in multiple formats for any corporate, Presentment and epayment gateway. Corporations may have multiple accounts with a given bank in the name of various sister concerns and have large operations n these accounts on a daily basis. All such transactions which have been routed through these accounts can be verified by the respective account managers in these companies intraday and plan their operations. Download facility of accounts and direct upload facility onto their systems with an interface on a daily basis. This facilitates online reconciliation with their books of accounts.

Concern

However, one major concern lurking always in every account operator’s mind is about the security and robustness of the system, security of the transaction and confidentiality of the login IDs given by the bank or the sanctity of the passwords. In turn the major concern is the security of the money lying in the account and the secrecy of the transactions happening in the account.

Finacus Solutions comes with a Solution

FnINET is a complete solution built for banking institutions that live on the edge of technological advances; an innovative software designed for retail and corporate customers of banking and non banking financial institutions. FiniNET takes special care of security concerns in the online realm. Secure Password authentication with PIN/TAN is used to make your online banking experience a secure and vulnerability free one.

The PIN represents a password, used to login and TANs represent a one-off password to authenticate transactions. The online banking user uses the PIN/TAN to conduct activities via a web browser using 128 bit secure socket layered connections. Additionally, digital signature based on-line banking can be used where all transactions are encrypted digitally. The Decryption Keys can then be stored on any memory medium as seen fit.

Benefit

FiniNET Internet banking solution consists of two modules: a Client module that allows your customers complete control over their transactions and account information and an Administration module that provides your bank staff with flexible and powerful administration tool to oversee the smooth functioning of the system on a day-to-day basis.

Features of the System

• Inbuilt security features given below ensure tnat only authorized users have access to their accounts.
• Firewalls and Filtering routers
• Secured socket layer with 128 bit encryption to ensure complete privacy of data
• Dual Level Authentication with separate login and transaction passwords
• Audit Trail
• The Bank can track all logins and transactions by date/user id to monitor any misuse of access.

Today in high pressure environment when people are hard pressed for time, FiniNET helps the customer to gain freedom and with peace and confidence to choose the way he wishes to conduct his banking business at anytime convenientto him.

Finacus Solutions through FinINET provides a secured 24X7 banking service to both the account holder and the Bank. FinINET is an important asset that solves this need and is a comprehensive solution for banks that is fully flexible, utterly secure and completely reliable.

The one and only requirement for having an internet banking facility is that a customer needs to have an account with a branch at any bank that is having online banking facility. The branch of the Bank should be Internet Banking enabled. The customer needs to register for Internet banking service with the branch. After receipt of both user-id and password from the bank which are all generated by the bank under strict security environment the customer has to logon to the website of the bank using the user-id and password given to them to access their account information. During the first login the customer would be required to go through a small process of initialization. The Net Banking Assistant at the website will guide them through the procedure for initialization. Once this is done and the customer has changed the password to his convenience he is free to access his account at his convenience 24x7 all through the year.

One of the main reasons that people decide to begin using Internet banking over regular banking is in reference to convenience. Everybody wants methods that are going to save them time and make daily tasks easier on them, and that is exactly what Internet banking does. Free online bill paying facility is offered by all banks. So rather than having to rush in to the bank at the end of a long work day to pay all bills, one can wait until later on in the evening, or whenever is most convenient, and pay all bills from the comfort of one’s own home.

Even if the customer has to keep moving while on the job, he does not have to worry about finding a new bank, because as long as the customer has a computer and access to the Internet he will be able to continue using Internet banking services without any delay or constraint. The customer may only have to notify the bank of his change of address directly or over the computer. Many other services that the customer would typically have to pay for are free as well when he completes the details asked for online through Internet banking, and this is primarily due to the fact that by completing Internet banking services request form the customer is saving the bank from having to use bank tellers, or manpower, to do the work for him.

With online banking the customer is also often able to get much more detailed information than he could with his regular bank, and he can see all of his account activity immediately, rather than having a delay. For instance if he pays a bill online, he is able to check his account only moments after and see the transaction shown on his account history.

Even if has any questions or doubts about that particular transaction or anything regarding it, there will typically be a link or means of finding more information on it. If the customer has several different accounts, separating between checking and savings, for instance, then he can transfer money from one account to another with just a click of mouse.