Pi-Control    Transaction Banking Security solution for

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Corporate Banking

Process corporate transactions straight from within corporate's ERP systems such as Tally, SAP etc

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With Pi-Control     ERP Connect solution , leading banks are enabling secure straight-through transaction processing from SMEs’, Corporates’ ERP such as Tally, SAP

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"Pi-Control helped us roll out an end to end secure digital business banking solution to our corporate clients in matter of weeks. We are now flexibly able to open more banking services to clients on digital than ever before, thanks to unmatched security enabled by Pi-Control cryptographic services platform."

Head of corporate and SME banking, Yes Bank Ltd

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Transaction Banking Challenges

Corporates need more reasons to continue running a relationship with a bank, beyond basic transaction processing services.

 

Driving amazing experience for SMEs and corporate banking users is one of the key reasons for corporates to continue and expand their banking relationship with existing banker.

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Current method of transaction banking fails to instill sense of security, trust, ease of use and operational freedom, which are all essential for delivering great user experience.

 

Here are challenges with disconnected transaction banking workflow:

  • Lacks end-to-end transaction processing security such as authentication of sender, receiver, integrity of the file, e-sign verification of transaction file

  • Can’t function without manual intervention, leading to transaction vulnerabilities

  • It is easy to replace the banker for corporates since the service delivery disconnected from their core ERP system

  • Doesn't create a habit driving experience for corporate users when transactions are processed outside ERP system

 

Pi-Control     

ERP Connect Solution

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Automation, Simplicity and Scalability

Makes corporate/ SME onboarding easy, and self-service. Automated secure data transmission between ERP and CNB eliminates manual intervention, eliminates the need to create CSV files for every transaction. Eliminates need to manually upload the transaction files into bank applications. API based approach enables integration with any ERP across corporate/ SME client portfolio of the bank

Cryptographically Secure Transaction Processing

Every transaction goes through Cryptographic authentication, multi-party authentication, e-signing, authorization as per the policy of the corporate/ SME before it is posted for processing to corporate netbanking (CNB). Secures corporate/ SME users from ERP side access vulnerabilities. Bank user can approve transactions in corporate netbanking (CNB) only after successful 2 factor authentication, E-sign, authorization as per bank policy. 

Configurable Security Policies

Corporate/ SME and Bank can flexibly configure authentication, authorization and e-signing policies at party level, transaction level, use level

Pi-Control      ERP Connect for corporate banking offers unmatched benefits across the entire life-cycle of corporate transaction processing. Pi-Control ERP Connect has ready integrations into Tally ERP.

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Fortytwo Labs implemented ERP Connect transaction banking security solution for one of the banks in Asia, typically the solution workflows looks as follows:

 

Pi-Control     

ERP Connect Solution

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Pi-Control     

ERP Connect Solution

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Corporate Client Onboarding

Pi-Control     ERP Connect Solution

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3-Step Transaction Processing

Before the workflow begins the corporate/ SME user has created bank ledger in their ERP (Tally/ SAP), configured their bank account details and party’s bank account details

Send Transaction

Send payment transaction to the bank from Tally/ SAP.  Select the payment vouchers and send to the bank for payment

Review

Login, verify and approve payment transactions in Corporate netbanking (CNB). Checker approves transactions using I-AM in CNB

Processing

CNB sends successful payment receipt back to ERP. Seamless and automatic settlement is done in the ERP books

Pi-Control     ERP Connect Solution

Getting Started

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Join one of our Group Demos

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Join our Transaction Banking Workshop

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Schedule a Discovery Session

 
PiControl ERP Connect Corporate Onboardi