Retail Banking and Compliance

In retail banking, increasingly managing risk is becoming the main priority. Achieving this, at the same time as increasing market share, optimizing costs and improving customer service requires a constant effort towards reengineering processes

Core banking

The advancement in technology, especially internet and information technology has led to new ways of doing business in banking. These technologies have cut down time, working simultaneously on different issues and increasing efficiency.

ekSource specializes in merging communication technology and information technology to suit core needs of our banking customers. We specialize developing applications to perform core operations of banking like recording of transactions, passbook maintenance, interest calculations on loans and deposits, customer records, balance of payments and withdrawal.

Anti-Money Laundering

Anti-money laundering software describes the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. Anti money-laundering guidelines came into prominence globally after the September 11, 2001 attacks and the subsequent enactment of the USA PATRIOT Act. Today, all financial institutions globally are required to monitor, investigate and report transactions of a suspicious nature to the financial intelligence unit of the central bank in the respective country.

In the AML space ekSource provides consulting services in the following modules:

• Currency Transaction Reporting (CTR) systems, which deal with large cash transaction reporting requirements. ekSource provides consulting services on software applications which effectively monitor bank customer transactions on a daily basis and, using customer historical information and account profile, provide a "whole picture" to the bank management. Transaction monitoring can include cash deposits and withdrawals, wire transfers and ACH activity
• Customer Identity Management systems which check various negative lists (such as OFAC) and represent an initial and ongoing part of Know your customer (KYC) requirements
• Transaction Monitoring systems, which focus on identification of suspicious patterns of transactions which may result in the filing of Suspicious Activity Reports (SARs). Identification of suspicious (as opposed to normal) transactions is part of the KYC requirements. ekSource specializes in providing software services to analyze transactions in an attempt to identify transactions or patterns of transactions, called structuring, which requires a SAR filing, or other suspicious patterns that qualify for SAR reporting.

Payment Systems

An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as Electronic Data Interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.

ekSource provides services on numerous different payments systems. These include the traditional credit, debit and charge card but also new technologies such as digital wallets, e-cash, mobile payment and e-checks. We also provide services for integrating the payment system of 3rd party (Payment Service Providers-PSP) to complete the online transaction for you.

Mobile Banking

Over the last few years, the mobile and wireless market has been one of the fastest growing markets in the world and it is still growing at a rapid pace. With mobile technology, banks can offer services to their customers such as doing funds transfer while travelling, receiving online updates of stock price or even performing stock trading while being stuck in traffic.

ekSource focuses on the m-commerce which has a vital role to play in the adoption of the next generation of contactless mobile payment. Some of the modules where ekSource can offer services are as follows:

• Account Information and Core Operations
• Payments, Deposits, Withdrawals, and Transfers
• Investment Tracking
• Customer Support