ATMs have become an important channel for delivering banking transactions and services. The spread of ATMs has increased drastically over the years and Currently Customers of any bank are allowed to make transactions using other bank ATMs. This led to increase in transaction volumes and exception volumes. Inconsistency in registering Exception Claims and Delayed Settlement leading to challenges in customer retention.
ATM records all transaction details and stores in the form of Electronic Journal (EJ). Most of teh time, Banks use their own or third-party applications to pull EJ to a central server. EJ lies there mostly unsecured and unaccounted. Regulatory requirements demand storage of EJ in a secure, unalterable form for a stipulated period of time. Also regulatory authorities requires banks to adhere to a fixed and short time discipline to resolve customer claims related to ATM transactions and the same is expected to reduce further.
Simply Retrieve
Thinkprise Electronic Journal Archival and Retrieval System – A precise Electronic Journal Management used for secured archival of EJ meeting regulatory requirements and retrieval of these EJs instantly based on the requirement.
What we hear!
Lack of systems to monitor and report the availability of EJ for all ATMs
Banks to have a clear view of availability of the EJs from all ATMs on daily basis.
Retrieving specific EJ required for the Claims processing
Considerable amount of time and effort is being spent to retrieve EJ for the specific claims
High Dependency on Third Party for EJ retrieval.
Regulatory requirements demand storage of EJ in a secured and unalterable form, for a stipulated period of time.
The volume of transactions have reached new peaks resulting in Increased Customer Complaints.
EJARS Modules
EJ Archive
- Extracts meta data, secure and archive EJ to EJARS vault
- Initial EJ Processing to archive the EJ up to a predefined cut-off date
- Daily EJ Processing to archive the EJ on a daily basis
EJ Retrieve
- Permits online search and retrieval option within the Bank’s Intranet
- Appropriate permission matrix with user authentication
- Advanced search option to retrieve specific transaction in an EJ File
- Option to print with one transaction prior and one after the desired transaction
Reports
EJARS provides an extensive list of reports like EJ Pulling Statistics, EJ Pulling Exceptions. Missing EJ Report etc.
Administration
Allows administrative users to configure the working of EJARS as required by the bank. Some of the features in the administration module include managing user creation, roles, ATM details and branch details.
FEATURES
Auto Archive
Automatic Archival of EJs to a Secure Storage
Auto Extract
Automatic extraction of Meta Data for extended Search options
Context Search
Ability to Search transactions within EJ using - ATMID, Start Date, End Date, Account No, Card No, Transaction Reference No, Response Code etc
Online Storage
Efficient Storage and Retrieval of EJ online
Online Archival
Online EJ Archive as per regulatory requirements.
Transaction Highlight
Search, display and highlight the transaction under search
Print Transaction
Ability to print specific transaction as per Re-Presentment standards
Access Anywhere
Ability to search and retrieve using a Web-based interface from anywhere within the bank’s intranet