Today, in customer-centric environment, retail banking industry is under real pressure to offer its customers a bigger platform for transactions. In a bid to build an effective customer/product ratio, banks are offering customers ubiquitous retail banking products, deploying ATM/POS terminals across bank branches / retail outlets & connecting to international interchanges such as VISA, Master, NFS , Cash Tree and other networks.
While the banks strive to meet the challenge of tracking the flow of funds and ensuring that the bank accounts of the customers remain balanced, HMA Starware(HMAS) empowers the banking industry to fulfill this objective, through its customized software solution- StarRECON - A modular system that caters to the specific requirements of the banks in providing reconciliation.
StarRECON helps to reconcile the ATM/POS transactions both for acquiring & issuing Bank’s own cards [private label] or VISA or MasterCard. Additionally, it enables reconciliation of other Network transactions thereby making the whole process of reconciliation & settlement an easy task.The framework also allows the users to configure key information and provide all the relevant log details that can be used for audit purpose. Purging all the logs enables the user to delete the logs permanently from the database based on the configuration.
The system checks the missing transactions in the switch/TBA side or in Visa/Master side. The matching key fields are made configurable so that the user can easily set the key fields without much trouble. Changes to Visa/Master message format can be added comfortably without requiring any customization.
After reconciliation, the system generates all the necessary reports to verify the amount settled across multiple ATM Sharing consortiums, so as to keep a check on the fraudulence, faulty claims and avoid error-prone manual reconciliation.
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HMAS, recognized as the leaders in open-platform & open-source switching, reconciliation, middleware and in card issuance management solutions, inaugurates its representative office in Accra - Ghana, W.Africa. As growth prospects for ATM markets and technology in Africa are becoming increasingly evident, HMAS strives to tap the emerging opportunities, by delivering comprehensive ATM channel solutions to financial institutions and independent ATM deployers. Two financial institutions have gone live on HMAS solution suite and there are contractual commitments from other banking institutions to get HMAS solution-stack deployed in the first two quarters in 2007.
In addition to offering its star-suite-of products & services through local distribution and service partner in all the countries of that region, the branch office would address the concerns of its existing customers and extend its expertise in project assistance, technical support and advice on EFT solutions. This representative office in Accra will also acts as a perfect gateway to address the member banks in CEMAC community. This move will not only increase HMAS penetration in the emerging market of Africa, to enable a convenient access to range of its products by its customers, but also provide 24x7 service support to its existing customers.
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