Providing Efficient Exception and Investigations Solutions
NCS announced today that NCS Exchange Connect Platform (ECP) – PowerX, an Exceptions and Investigations (E&I) solution developed by NCS China, has been successfully launched in China Everbright Bank. The solution enables China Everbright Bank to improve their customer services and satisfaction through a secured and efficient E&I process.
NCS is the first Asia-Pacific vendor to have its E&I solution certified by SWIFT in 2008. NCS ECP-PowerX adheres to SWIFTNet E&I ISO20022 standard and is built on NCS' own middleware platform--Exchange Connect Platform (ECP). This is a seamless system platform which acts as the interface to connect to the banks’ back-office applications and automate the banks’ internal investigation process to ensure an effective E&I process.
With China’s economy developing, international business transactions and the volume of international payments have grown, which results in exception situations. The exception could be a case of payments that have to be cancelled or modified, recipients claiming that they have not received the money or the bank is unable to apply the payment due to insufficient or incorrect information. According to a survey conducted by SWIFT, exceptions in international settlement can account for between 2 per cent to 5 per cent of the total business but at the same time requires more than 30 per cent of human resources to investigate these exception payments.
In order to enable efficient investigations into such exception payments, SWIFT introduced the SWIFTNet Exceptions & Investigations (E&I) standards in 2006, offering the means to standardize communication for better investigations. With this standard, commercial banks now have the means to adopt systems to leverage on this standard to automate their internal investigation process in order to enhance customer service efficiency and operational excellence.
China Everbright Bank is one of the first banks to register for the SWIFTNet E&I solution and also among the first financial institutions to deploy SWIFTNet E&I system in China by partnering with NCS.
Ms Ma Yu, Operation Manager of China Everbright Bank, says, “NCS ECP-PowerX has automated our E&I business processes which previously required a lot of manual work. It has evidently improved our operation efficiency and customer satisfaction.”
Mr. Zhang Feng, Technical Manager of China Everbright Bank adds, “NCS has the domain knowledge and technical expertise in the financial industry, and those are key factors behind the smooth implementation of the ECP-PowerX system.”
Apart from NCS ECP PowerX, NCS has also developed a whole suite of solutions based on ECP like ECP-PowerMessage, ECP-PowerClear and ECP-PowerReport.
“We are starting to see critical mass adoption for the SWIFTNet E&I standard, and China’s financial institutions are among the most avid users in adopting this new standard for investigating exception situations.” says Mr. Timothy Choon, director - FSI, NCS China. “ECP-PowerX leverages this standard, and is a business-oriented solution designed to significantly improve the effectiveness of investigations. With ECP-PowerX, NCS China has the tools to help our customers achieve this key differentiator in the competitive financial market. ”
NCS Group is a leading information technology (IT) and communications engineering service provider with more than 7,000 staff located in more than 10 countries across the Asia Pacific and Middle East regions.
NCS has in-depth domain knowledge and unique delivery capabilities which focus on defining, realising and sustaining Business Value for its Customers via the innovative use of technology.
With proven expertise in consulting, development, systems integration, outsourcing, infrastructure management and solutions gained while serving government and commercial organisations across the region, NCS delivers end-to-end support for every organisation’s technology needs.
Headquartered in Singapore, NCS is a wholly-owned subsidiary of the SingTel Group.
About NCS China
Since entering the China Market in 1998, NCS has dedicated its efforts in providing IT solutions to assist financial institutions in coping with the rapid changing environment.
As the regional partner of SWIFT (Society for Worldwide Interbank Financial Telecommunication) in China, NCS exclusively markets SWIFT products and provides SWIFT-related services, such as installment, maintenance and upgrade to more than 120 local and foreign banks in China.
NCS continues to increase investment in its leadership position in China’s developing IT market through expanding its professional services to provide world-class business process outsourcing (BPO) centres, additional support for SWIFT and IT education and training services in China.
NCS China has more than 1300 employees in China including Chengdu, Suzhou, Shanghai, Beijing and Guangzhou, of whom 98% are local talent. NCS believes strongly in the ongoing investment in the quality of people to position itself as an Employer of Choice.
NCS’ leadership position in China’s IT industry is supported by its ongoing focus on attaining international certification for its China operations. NCS is one of the few China-based IT service providers with CMMI level 5 certification and aims to gain other standard qualifications in the areas of quality processes (ISO standards) and information technology services management throughout China.
For more information, please visit www.ncs.com.sg or www.ncsi.com.cn
Ms Sophia Ong
Group Marketing & Corporate Communications
Telephone: +65 6556 7414
Fax: +65 6484 4068
Mobile Phone: +65 9839 1855
Ms Rebecca Wu
Telephone: 021 6141 5511-8136
Fax: 021 6362 1800
Mobile Phone: 139 163 89216