"Paramatrix’ team has been agile and has handled our dynamic business requirements without hampering system design, delivery or cost. We recommened Paramatrix to any businesses looking for similar engagements."
New India Co-operative Bank was using a Foxpro-based system to manage their customer’s share accounts, liabilities and dividends. The existing system had several limitations, viz., inability to handle amounts higher than 99 Lakhs, bulk printing, authorisation, multi-branch access etc., which were all addressed by the Share Accounting System (SAS).
The key challenge was to build a central application that is capable of handling accesses from branches across India, with necessary authorisation and verifications. Managing daily accounts, share certificates, the processing of liabilities and dividends, bulk printing and managing of board member election, were the areas of automation.
A distributed database approach for respective business functions viz., CRM, Shares, Liability, Dividend & Election was implemented. This horizontal distribution helped manage the high loads on system especially during bulk printing, dividend processing & the election process.
Data Security, huge savings in the form of processing time, distributed access, most importantly a cohesive & collaborative team have been the hallmarks of this project.