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Funding System
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Electronic Inventory Funding System (eIFS) Application is a customized solution developed by Puratech Solutions (India) Pvt. Ltd., in wake of the growing exposure for Inventory funding by Banks across India. Many commercial banks are in the line of business of financing on Inventory or Dealer Financing. eIFS application will facilitate managing financial transaction related to Anchor, Dealers and Suppliers. The application will enable rule based transaction processing, interest computations, provide information about the delinquency and management of recourse incase of prolonged delinquency, do accounting of transactions and carry out interfaces with the Core Banking System of the bank.

Manufactures / Anchor / Suppliers can be set up in eIFS system with limit allocations primarily to different categories and subcategories of the product market segment the anchor is in business of. These limits in turn are allocated to different Dealers based on their cash flow requirements which can further be sub-allocated regional or operation zones of the Dealers for better monitoring and control.

The application has been developed on a complete Web-based technology platform that integrates entities of a Financial Eco System: Anchor Customer, Dealers, Suppliers and Bank’s Core.
 
Features
Segment / product setup
Discounting matrix setup for segments
Anchor / Manufactures setup
Dealers Setup
Core bank account mapping
Online Draw down by Dealer
Option for Online Draw down by Manufacture using excel file upload batch process for multiple
Dealer accounts
Bank’s Q for approvals in cases of CAP bust
Core Bank integration for draw downs
Automated adjustments on FIFO basis for repayments
Manual repayment option for account maintenance
EOD hand off files for service charges and Service tax
EOM hand off files for NPA and interest postings
MIS / account maintenance
Limit enhancement process for Dealers / Anchor
Adhoc or Temporary limits for drill down with Bank’s Q process
 
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