Cash Process - Ing Vyasa
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8/10/2019 Cash Process - Ing Vyasa
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Account Services
Explore ING Vysya Bank's comprehensive range of accounts including Current, Savings, Term Deposits, Customised Payroll,Escrow and Special Purpose Accounts in Indian rupees and foreign currencies. Count on the dedicated team of RelationshipManagers to scope out customised solutions to meet evolving business needs and assist with opening of accountswithin 24-hours.
Enjoy benefits of ING Vysya Bank's Current Account products specifically suited for corporate customers with zero charges for
non maintenance of balances and charges levied only for services availed.
Global Transaction Services
Simplified Banking
LiquidityManagement
Payables
Receivables
FinancingFinancing Payables
Receivables
Cash Pool
Investments
Inventory
Work In ProgressSales
Money
Distribution
LiquidityManagement
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Global Transaction Services
Simplified Banking
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Avail services through 551 branches at over 295 locations
Use more than 630 ING Vysya ATMs across India
Enjoy cash and cheque pick-up and delivery services
Transfer funds within ING Vysya Bank and other bank accounts
Issue PAP cheques and Demand Drafts
Get balance certificates, statements, TDS and FD receipts
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View real-time information on account balances and transactions acrossvarious account types
Get details of all kinds of accounts registered with ING Vysya Bank
Download statement of accounts, balances, transactions history and balancecertificate
View summary of relationship with ING Vysya and other banks on a singledashboard
Request for cheque books, enquire cheque status and stop cheques online
Download payables and receivables reports in various formats likexls, pdf and text
Branch
ING Converge
Visit us at http://www.ingvysyabank.com | Contact us at [email protected]
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Cash Management - Liquidity
The core focus of corporate treasurers is to ensure availability of sufficient cash to meet working capital requirements of thebusiness and avoid operational and financial exigencies arising out of lack of liquidity. At the same time, the challenge alsolies in minimising idle floats in Current Accounts and optimising yields on surplus cash. ING Vysya Bank follows a consultativeapproach by offering optimal account structures, centralised control on cash balances and investments in secure instruments.
Global Transaction Services
Simplified Banking
LiquidityManagement
Payables
Receivables
FinancingFinancing Payables
Receivables
Cash Pool
Investments
Inventory
Work In ProgressSales
Money
Distribution
LiquidityManagement
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Global Transaction Services
Simplified Banking
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Avail of competitive deposit rates for tenors of 7 days and above
Ensure timely placement of deposits in desired denominations
Access online details of deposit accounts available in ING Converge
Facilitate premature withdrawals at short notices
Avail of automatic/ call-based roll-overs
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O
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Hybrid investment solutions that give sizeable returns on temporary orongoing cash surpluses
Avail of MIBOR Linked deposits, a structured 'floating-rate' fixed depositsolution that provides higher returns depending on money market conditions
Liquidate investments with minimal funds for meeting urgentcash requirements
Link deposits to operating account for sweep-in of funds, if required
Rupee FixedDeposits
Variable InterestRate Deposits
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O
O
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Avail of Domestic Cash Pooling with options of target based sweeps and cashconcentration
Benefit from structures created for inter and intra-group cash poolingsolutions, within the regulatory framework
Configure account structures and sweeping rules for achievingoperational efficiency
Activate sequencing and reversal of sweeps at user-defined frequencies
Access online reports of user-defined account structures andsweep transactions
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O
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A unique cheque bounce/ Overdraft protection solution
Exercise an efficient intraday liquidity solution wherein funds can be drawnfrom a linked Protection account
Aggregate balances (including limits) of linked accounts forhonouring payments
Ensure confirmed processing of payment instructions initiated through anychannel (online/ branch)
ValueC@sh(Cash Pooling)
P@yShield
Visit us at http://www.ingvysyabank.com | Contact us at [email protected]
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Cash Management - Payables
For every successful business, timely settlement of dues to suppliers, adhoc payments for meeting day-to-day operations,carrying out statutory payments within cut-off times, payroll disbursement on pre-defined dates and distribution of dividends
to shareholders within regulatory timelines are critical. With extensive network of branches and direct participation in allforms of clearing ING Vysya Bank's payment services help business deliver commitments on time, securely and conveniently.
ING Vysya Bank provides options to centralise payment processing and decentralise deliveries with appropriate controls
through high-value electronic funds transfer, payable-at-par payment instruments and a few niche products for petty cashhandling and fraud mitigation useful in managing day to day operations.
Global Transaction Services
Simplified Banking
LiquidityManagement
Payables
Receivables
FinancingFinancing Payables
Receivables
Cash Pool
Investments
Inventory
Work In ProgressSales
Money
Distribution
LiquidityManagement
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Global Transaction Services
Simplified Banking
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O
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O
Issue 'Payable-At-Par' cheques across ING Vysya branchlocations and more than 500 partner bank locations
Enable facsimile signature printing facility therebyeliminating the need for physical signing of cheques
Print cheques in bulk through online/offline upload of
data and get the cheque delivered at multiple locationsPrint cheques in the comfort of own office using INGVysya Bank's online solution
Payable at Par(PAP) cheques
P@ysureO
O
Avail ING Vysya Banks fraud mitigation solution forweeding out fraudulent/ tampered cheques
Be assured of cheques being validated in clearing with theissuance data across all branches and bank's clearingcentres
O
O
Receive cheque status reports with additional status onvalidations done
Avail of auto upload of cheque issuance data forvalidation by printing cheques through ING Vysya Bank'spayments portal INGP@y
Easyp@y
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Issue pre-funded and payable-at-par paymentinstruments on 290+ ING Vysya branch locations andmore than 200 partner bank locations
Effect statutory or other payments that requireguaranteed value, like loan disbursements or agent
commissions
Demand Drafts
O Transfer high-value funds above defined threshold limitsinstantaneously to any of the 100,000+ participatingbanks/ branches across the country
RTGS (Real TimeGross Settlement)
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O
Transfer funds electronically on same day tobeneficiaries holding accounts with any of the 100,000+participating banks/ branches across the country
Effect fund transfers that are ideal for payroll,dividends, supplier payments and agent commissions
NEFT(National Electronic
Funds Transfer)
O Transfer funds electronically for a large volume of low
value transactions effecting direct credit/ debit to/ fromaccounts held with any of the 50,600+ participatingbanks/ branches across the country
ECS (ElectronicClearing Service)
O
O
Facilitate centralised processing for payments which arerepetitive and bulk in nature
Ensure direct credit to beneficiary accounts held withany of the 50,500+ participating banks/ branches
NECS(National Electronic
Clearing Service)O
O
O
Leverage the entire range of services relating todividend and interest disbursement to investors
Avail of special account features with multiple modes ofdisbursal and assured validation of issue data in clearing
Receive periodic reconciliation of accounts anddedicated MIS
Interest/Dividendwarrants
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Manage petty cash expenses with a card based solutionwhich is easy to distribute and use
Get cards issued in name of offices/divisions/centres, butcontrol the fund transfers centrally
Withdraw cash through ATMs within daily threshold limit
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O
Top-up card balance instantly online using ING VysyaBanks payments portal INGP@y
Access real-time balances and transactions of cardaccounts using ING Vysya Banks Internet Bankingchannel -ING Converge
Visit us at http://www.ingvysyabank.com | Contact us at [email protected]
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Cash Management - Receivables
Some of the key challenges in a geographically diverse country with multifarious payments and clearing systems are ensuring timely collection of receivables, containing collection costs and efficient reconciliation for applicability of funds.
ING Vysya Bank provides cost-effective, customisable products and solutions for quick collection and reconciliation of fundsreceived through paper based instruments and electronic fund transfers.
Global Transaction Services
Simplified Banking
LiquidityManagement
Payables
Receivables
FinancingFinancing Payables
Receivables
Cash Pool
Investments
Inventory
Work In ProgressSales
Money
Distribution
LiquidityManagement
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Global Transaction Services
Simplified Banking
Visit us at http://www.ingvysyabank.com | Contact us at [email protected]
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Leverage ING Vysya Bank's growing branch network at more than 290locations and its strong partner bank arrangements to access local clearing atover 1200 locations across the country
Receive Comprehensive MIS for tracking receivables at an instrument level
Rapid CollectionsServices
Vyswift CollectionsServices
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Ensure quick collection of paper based instruments drawn on upcountrylocations i.e. where instrument pick-up/ deposit location differs f rom thepayable location - through a wide network of over 4,380 locations
Avail of guaranteed credit
Get strong and timely MIS support
Auto upload receivables data using the bank's capability to integrate withback office systems and auto reconcile the same
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O
O
O
O
The Virtual Accounts product of ING Vysya Bank has been recognised as the'Most innovative IT solution' by leading industry forums
Facilitate receipt and identification of funds received through electronicpayment systems like RTGS, NEFT, Intra Bank Transfers and mobile
Quickly identify and reconcile funds at remitter level
Get transaction level alerts with remitter details and facilitate similarnotification for remitters
Receive customised MIS at pre-defined frequencies and also auto reconcilereceivables through direct integration with back-office systems
ING Inwards
O
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? O
Receive funds through mobile from remitters using:
Account number and IFSC code
Mobile Money Identifier (MMID) and mobile numberIdentify receivables through transaction details and data that integrates withING Inwards Report
mReceipts
E@syCollect
O
O
O
O
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Collect regular dues from payers through verified/ registered mandates in anautomated manner on presentation by ING Vysya Bank
Acquire extensive reach - across 70,000+ bank branches pan India forcollecting funds
Submit single transaction file for presentation to collect funds throughmultiple clearing locations
Avail mandate verification/ registration support
Receive detailed MIS for simplified reconciliation
Avail of direct debit facility through NACH (National Automated ClearingHouse) with the advantages of online mandate registration and faster receiptof funds on presentation
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Channels
ING Vysya Bank offers state-of-the-art online channels to ensure delivery of latest information at ones fingertips, in addition to the extensive and growing branch network at over 290+ locations across the country and dedicated Relationship Managers.ING Vysya Bank's Online Banking enables a Treasurer or a CFO to view consolidated real-time balances and transactions acrossgeographies, currencies and bank accounts (this includes non-ING banking relationships).
ING Vysya Bank offers straight-through solutions which can integrate with ERP, back office systems to securely auto process
transactions and also aid in auto reconciliation of accounts. Depending on the needs of the business, ING Vysya offers mixedmodes of channels for delivering various products and services to derive maximum efficiency from business processes andalso facilitate ease of operations.
Global Transaction Services
Simplified Banking
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Relationship Summary and Account services
Get a consolidated glimpse of group accounts and legal entities inchosen currency
View ING and Non ING relationships on single Dashboard
Receive real time information with consolidated balances across accounts,currencies and banks
Order cheque books, view cheque status and stop cheques online
Access services and accounts securely as they are Rights based
Payables Management - INGP@y
Initiate and authorise transactions with bulk and priority payment options that mitigate risk by replicating Board Resolution
Pay vendors/suppliers with pre-loaded beneficiary data, process salary andcommission payments
Receive email/ SMS alerts on transaction initiation, processing and alsosend confirmation to beneficiaries post processing of transactions
Avail of the facility to Hold/Release/Verify transactions as required
Print cheques from own office using ING Vysya Banks cheque stationery
Receive comprehensive reports with latest status of transactions with easydownload options
Receivables Management
ING Inwards Virtual Account Solution
Access comprehensive remitter details and maintain remitters online
Query details of NEFT/RTGS and within ING Vysya Bank fund transfersin real time
View transaction reports in detailed as well as summarised formats
Download all reports in xls, csv, pdf
ING Collect Cheque Collection Solution
View and download cheque collection reports
Obtain instrument details based on Pif/Date/Amount/Instrumentnumber through the online query option
Download all reports in xls, csv, pdf
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O
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O
Seamlessly communicate and process requests with secured protocolsbetween systems
Initiate, execute and receive requests and/or information without manualintervention
Process transaction/information automatically thus eliminating the need toaccess any external systems
Obtain strengthened security through generation of an encrypted checksum
for each of the files/requests processedOpt for delivery of any transaction service product including accountreconciliation service
ING Converge
ING Vysya Bank also offers advanced host-to-host connectivity options based onspecific customer needs that involve real-time processing overa dedicated communication line.
Visit us at http://www.ingvysyabank.com | Contact us at [email protected]
ING Instalink
Global Transaction Services
Simplified Banking