Issac - Offers innovative products

The rural credit co-operative structure is a dynamic mechanism in the hands of the Government of India to stand by farmers at their hour of need. However, the nerve centres of rural finance, PACS, were facing heavy losses due to impairment in governance, managerial and financial fronts. The Vaidyanathan committee, setup by NABARD, recently proposed a revival package for the PACS with an aim to ensure better governance, conformance to Indian Accounting Standards and maintenance of uniform books of accounts with standard formats for MIS. ISSAC critically analyses the inadequacy of this rural setup and offers complete banking solution, WiseBank in compliance with CAS & MIS, as prescribed by NABARD.

WiseBank is a feature rich, comprehensive banking solution that empowers banks to provide a wide range of business functions including maintenance of correct book of accounts, managing assets and liabilities, online customer support, management of back-office processes and generation of accurate financial reports. Its modular, parameter driven architecture enables ease of operation and allows banks to create innovative offerings for customers. Its security model protects banks against any fraudulent use of the solution.

Key Features:
• Total compliance with CAS and MIS
• Extensive coverage of KCC
• Full functionality of various deposit and loan types
• Automatic posting and generation of vouchers in the format defined in CAS
• Classification of Assets and Provisioning
• Microfinance with SHG coverage
• All reports & returns as prescribed in CAS & MIS.
• Maintenance of Books of Accounts in compliance with CAS including Trading
Account and Balance Sheet
• Full Audit trail functionality
• User Friendly Graphical User Interface (GUI)

WiseView is a web based management information solution that can work with any retail banking solution and provides rich set of information required by the bank at any time. It has flexibility to pull data from different data sources and convert the data in useful business information. WiseView can present the business information in many different formats, e.g. bank performance in different portfolios in the last year can be presented in a pie chart in web browser whereas GL/PL report can be presented in Microsoft Excel format.

Key Features:
• Centralized source of all banking information.
• Supports multiple formats for data presentation.
• Perform data analysis e.g. Performance and Trend analysis, portfolio profitability analysis, Transaction analysis.
• Secure System.