Today, the Indian banks have witnessed a radical change from conventional banking to convenience banking and they are poised for ‘digital banking’ at a rapid pace. Apart from this, the banks across the country have highly recognized the importance of enabling technologies in the banking sector to deal with the changing customer demands, improve operational efficiency, and enhance regulatory compliance.
In 2006, Neptune INDIA established the operation in Chennai which is a direct 100% subsidy of Neptune UK. The company has developed core banking products like Rubikon & Orbit-R, using these the customers can transfer money or pay for goods with just the push of a button. The group also has the ability to deliver strong business results reducing time-to-market and TCO by developing innovative solutions and improved productivity. With nearly two decades in BFSI sector, Neptune has the capability to deliver end-to-end solutions to over more than 85 financial services which include retail banking (including public sector banks), commercial banks, industrial banks and world largest microfinance clients across the continents. In addition, they are having their own regional group implementation offices in Kenya, Ethiopia, Tanzania, Uganda and Nigeria.
Apart from this, Neptune has kept a long-term committed relationship of more than ten years with the top most clients like Tanzania Postal Bank, Berhan International bank, and FINCA International.
Thomas Waltair is the APAC Regional Head & Director of Product Development at Neptune Software Group, India. As the first employee of Neptune India, he has meticulously formed a team of young, vibrant and dynamic people who know their craft well. The task of building a team from the scratch is difficult, but Waltair has performed exceedingly well in leading the team from difficult to positive times.
Waltair directly oversees universal core banking product engineering, global product support, presales and post implementation support and branding. He has handled all requests across the continent to build Gartner listed universal core banking products like ‘Rubikon & Orbit-R’. He brings in over 18 years of experience in product engineering, software lifecycle & core banking technology.
Waltair is amiable and easily approachable, who puts employee satisfaction at forefront that makes his ward to do all the wonder for a successful business. He believes in flat hierarchy and that’s how it works in Neptune India. He is an avid traveler and an active philanthropist, who always wants to contribute to the society he grew in.
An Innovative Technology
The new technologies are constantly developing and banks can seamlessly adapt to changes will be in the best position to offer their clientele high-quality customer experience. Therefore, the traditional bank groups are looking for brand based or Tier-1 Company’s core-banking system. It is not too far to select the technically merit based and robust system but the banks need to evaluate the system properly before selecting it. Also, the banks must prepare for the next evolution of digital banking and meet customers’ shifting expectations.
In other words, transaction of money is definitely the prime function of a financial institution, but it is not the only function which a financial institution has to perform. The implementation of the new technology will not only make the transaction easier, it will make banking faster and safer in different ways.
Today, innovative technologies are changing the banking business and Rubikon’s implementation of its latest version in banks has been beneficial to both the banks and its customers in terms of Fraud Reduction, KYC, Cheaper and Secure Payments, Trading Platforms and Loans & Credit. Rubikon is a 100% Java interpreted which embraces JEE standards and web services for integration. The system is built with modular architecture. The use of JEE standardizes a number of different technologies to provide a robust platform for building distributed multi-tier enterprise banking applications. Rubikon reacts to all real time transactions even in the Multicurrency Systems which reflect immediately in the GL codes. The end-of-day processing intended to run in parallel with the availability of the system.
Further, workflow engine is a part of Rubikon core banking system with no hidden charges or additional costs for new branch rollouts. Within minutes, it is possible to roll out or activate the new products and new business units without any help of technical team.
Benefitting the Clientele
Over the years, Neptune Software Group has supported several micro finance clients with its flagship product which includes Berhan International and Tanzania Postal Bank. Firstly, Berhan International is a commercial bank in Ethiopia that started with just one branch in 2007 as now turn to run with almost more than 173 branches with the help of nine years solid relationship.
Secondly, Tanzania Postal Bank is one of the oldest public-sector savings bank in Tanzania. The bank was established in 1925 as Tanganyika Postal Savings Bank that conducts banking services through the network of post offices. The bank aims to provide financial services to the common Tanzanian and promotes financial inclusion. Later on, TPB collaborated with Neptune Software Group in the year 2003 with the implementation of the Equinox legacy system. Recently, the bank migrated from the old Equinox to Rubikon. With nearly two decades of relationship, they have helped the bank grow substantially across all key financial parameters. Today, TPB provides banking services across various channels: mobile banking, e-banking, agency banking, tellers and more.
Future Expansion
In the year 2008, Neptune implemented its first core business solution to the market with Rubikon. But, within ten years, the group has achieved nearly 45 core-banking deployments across the continent and over 80% workforce is working in the company for more than seven years without attrition.
While talking to Waltair about the future advancement of the company, he said “We are planning to reach 100+ deployments, looking for an Indian client and implementing Neptune FinTech Digital Products 2.0”.
Source :-The 10 Most Prominent BFSI Solution Providers In 2018
Neptune’s Rubikon: Delivering Mission Critical Universal Corebanking Systems
