Changing demands of increasingly complex Government pension scenarios is forcing banks who are the pension disbursement authorities to act swiftly and reinvent themselves to meet and exceed the expectations of not only the Pension sanctioning Authorities but also that of the pensioner. The Pension Procession Solution developed by C-Edge will transform the way the bank does its Government Pension business by optimization of its processes and operations. This will enable the bank to address the increasing demands of customers while complying with regulatory requirements. It will lead to better management of shareholder expectations while improving the bank’s financial health. Some prominent attributes of the same are
- It is a robust system which can handle multi-organization unit’s pensioners having variety of pension rules and schemes.
- Architecture of the system can sustain future growth.
- PPS can be used by individuals of varying skill levels and technical competence. The system is intuitive to use and can self- walk users through the operations they are trying to perform.
- Audit Trail – All updates to system data fields have an audit trail. Audit trails identify modifications to the data base at levels of data and time when the modification was made, by whom, with the pre and post data modified.
- Maker/Checker Authorization – Any action in the system including updates to system data fields have maker and checker authorization. All requests for checker authorization are queued to respective queue of checker at that branch or CPPC.
- The Pension processing mechanism of the PPS uses multi-core processors effectively to support parallel processing of the pensions for different business organisation units with their own pension scheme and rules, through multi-threading, thereby considerably reducing the pension processing time.
The key features of the Pension Procession Solution are :
- Rule engine for Pension calculation and maker checker concept for all transactions and with double checker authorization for critical tasks.
- Integrated front end application for the front end processing with an easy management of rules.
- Pension processing and TDS are seamlessly integrated.
- Status tracking of entire life cycle of PPO and Conversion of Regular to family.
- Providing the System allocation and Reallocation of task.
- Managing the Records of Mandatory Certificates.
- Generation of the Scroll is generated from the front end.
- Provision to interface with Bank’s SMS utility for sending text messages to the pensioners.
Following modules are covered under the PPS.
- Pensioner profile maintenance
- Pension Processing
- TDS
- Pension disbursement
- Scroll generation
- Report and MIS
- Workflow management
- Application user configuration