Cash Management Services

IndusInd Bank provides a host of solutions for managing payments to vendors, channel partners, employees, government and others. Payables solutions consist of bulk disbursement for both paper-based and electronic modes.

The payables solutions are provided through our feature-rich Corporate Net Banking platform Indus Direct and Indus Direct Mobile app.

Our suite of products comprises of the following solutions:

• Electronic payment modes
• Bulk payments
• DD/Cheque printing
• Electronic Payment Modes

Different electronic payment modes available are:

• RTGS
• NEFT
• IMPS
• IFT
• UPI
• APBS

Apart from single fund transfer modes, corporates are also facilitated with bulk payment options for RTGS/NEFT/IMPS/IFT/Corporate cheque and DD request.

The bulk payments are enabled through following functionalities on IndusDirect:

•  Anytime, anywhere access from the Internet
• Supports Maker/Checker framework
• Allows for implementation of multi-layered authorisation matrices
• Facility for bulk upload in multiple formats
• Fund transfers are supported in different payment modes
• Customer can schedule future dated payments
• Grace period feature to allow for unexpected delays in authorisation
• Customers can pre-register beneficiaries to safeguard against fraudulent transactions
• Bulk file formats can be designed as per client specifications
• Upload file can have all payment modes in the same file
• Authorisation can be done at a single record level or at a batch level
• E-mail and SMS alerts triggered to the requisite parties during the payment life cycle
• Value-added services such as Cheque status query and offline account statement are available
• The client can define Service control parameters like
  - Maximum transaction value
  - Maximum no. of transactions per day/per month

Apart from Indus Direct, H2H integration with corporate is also available for enabling bulk payments as follows:

• Straight Through Processing (STP)
• Faster TAT in the payment process
• Control over the payment process
• Reduced cycle time
• Continuous Technology Enhancement

Bulk stationery printing is provided to corporate through CMS HUB and remote locations. The following facilities are available:

• Bulk DD/cheque printing
• Cover notice advise along with cheque printed
• Advise printing based on approved artwork
• Reduced TAT through remote cheque printing
• Reverse file to corporate for instruments printed

Structured Cash Management Solutions are carefully designed and structured solutions that cater to unique sector-specific requirements. These solutions are designed to take banking services for corporate entities beyond financial transactions.

IndusInd Bank prides itself on being one of the largest private banks in the E-Tendering space. IndusInd Bank has established a partnership and integrated its Electronic Collections &  Electronic Payments platform with most of the major E-Procurement platform services providers across the public and private space.

Coupled with E-Procurement platform capabilities and IndusInd Bank’s ability to design and customize banking services to meet the unique requirements of clients brings together a dynamic E-Tender & E-Auction solution.

IndusInd Bank understands the need and challenges of enabling multiple payment modes for your consumers. The emergence of multiple payment modes has definitely eased collections but it has also brought a tremendous strain on the limited IT resources that you would have at your disposal.

IndusCollect platform is designed to enable you to enjoy the benefits of multiple payment modes with minimized straining of your IT resources. The IndusCollect platform supports all major modes of payments. Some of the key features of IndusCollect are

• Single Integration
• Multiple Payment Options
• Consolidated Payment Reports
• Pre and Post Payment Validations
• Front-end Module
• API based integrations

Bharat Bill Pay is an integrated bill payment system that offers accessibility, convenience and enhances consumer trust. This is an “Anytime anywhere” interoperable bill payment system that will set common standards across the country.

IndusInd Bank is a Bharat Bill Pay Operating Unit (BBPOU) and functions as both, a Biller Operating Unit (BOU) and a Customer Operating Unit (COU).

IndusInd Bank has developed an in-house platform to cater to needs to corporate clients for both BOU and COU.

IndusInd Bank as a COU has on-boarded several Agent Institutions that enable channels for bill payments for end customers. Agent Institutions can be fintechs, payments companies, RRBs, cooperative banks and other entities licensed as BBPOU.

IndusInd Bank, as a BOU, provides collection solutions to billers. Billers are any corporate/government entity with recurring collections from end-users availing its services.

Following are the categories allowed under Bharat Bill Pay:

• Electricity
• Water Tax
• Gas
• Mobile/Landline Postpaid
• Broadband
• DTH

IndusInd Bank facilitates different types of Government to Government (G2G), Government to Citizen and Government to Business (G2B) payments as well as collections.

Following are modes of enabling such payments and collections -

• Direct Benefit Transfers (DBT) through different payment modes like NEFT/RTGS/IMPS/NACH/APBS
• Funds disbursements through Public Financial Management System(PFMS) platform for G2G, G2C and G2B payments for both DBT and non-DBT categories
• Structured solutions for different government departments and agencies
• Revenue/tax collections for Government and Urban Local Bodies
• Funds disbursement through State Government specific platforms and standards defined by State Governments

• Comprehensive offering of paper-based receivables covering different modes viz. Cheques and Cash
• Robust and customized Information management systems to support straight-through reconciliation
• Manage inward fund receipts via electronic transactions
• Dynamic Virtual Accounts solution to ensure the faster realization of funds and facilitate automated reconciliation
• Improved cash flows resulting in the reduction of processing costs and interest costs for the management

Following are the online solutions:

• NACH/e-NACH
• Indus Electronic Collections – virtual account based collections using RTGS, NEFT and IMPS
• UPI Collections
• PG/POS based collections

Following are the offline solutions:

Cash Collections services including pick-up services

a) A secure mechanism for cheque pickups as per customer requirements (daily,staggered, on-call)
b) Customized data enrichment facility to capture all critical financial and non-financial information
c) Special cheque deposit slips to capture additional information
d) Daily MIS for cheque collections, realization and returns in customized formats via emails
e) Facility to upload reports and MIS into ERP/Accounting systems for auto-updates
f) Outsourcing of cash pickup and banking process frees up customer’s staff, resulting in more efficient resource utilization
g) A secured mode of pick up/delivery backed by comprehensive insurance coverage

• Cash Delivery for delivery at doorsteps
  - Hidden Code Identification Number to ensure safety and security
  - Funds made available on agreed arrangement
  
• Local and outstation cheque collection across 8000+ locations
  
• Centralized network management and well-defined process maps to achieve economies of scale
  
• Pan India Coverage