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CORPORATE INTERNET BANKING CORPORATE INTERNET BANKING CORPORATE INTERNET BANKIN

CORPORATE INTERNET BANKING CORPORATE INTERNET BANKING CORPORATE INTERNET BANKING CORPORATE INTERNET BANKING CUSTOMER GUIDE A Comprehensive Step-by-Step Guide to Corporate Customers January 2006 Compiled by Lakshminarayan K V, Manager, State Bank of India IT Services Department, Local Head Office, Bangalore 2 FOREWORD Corporate Internet Banking (CINB) is set to empower Corporate Customers viz., Companies/Business Enterprises/ Firms/ Institutions etc) to carry out all banking activities (except Cash and Clearing) on their desktop, aided by the power and convenience of Internet. This will bring about a sea change in the way they transact business, as they take control of the transaction processes. These processes are fully flexible, fully secure and have multi level controls. Moving over to desktop based transactions through Internet calls for no special infrastructure, simple registration, least intervention from the branch, instantaneous debits/credits, least cost of transactions, every control in the hands of corporate. To enable our esteemed customers to shift towards desktop banking, this Guide is brought out. The guide is organized in a simple, user-friendly manner containing all relevant information for users to easily follow and practise. I am sure that all our Corporate Customers will find it immensely useful and operate Corporate Internet Banking with ease. I wish all the Customers a “Happy e-Banking”. R. Sridharan January 1, 2006 Chief General Manager 3 PREFACE The feedback from the users of Corporate Internet Banking (CINB) points clearly to the imperatives of learning the CINB functionalities and processes to facilitate user comfort. With the release of this User Guide, the customers shall be able to gain knowledge about Corporate Internet Banking and the step-by-step procedure to be followed when they have registered for the CINB facility. This Guide is organized in a simple, easy to understand manner. You will find an index to the chapters to facilitate easy reference. The Guide explains the salient features of CINB (Vistaar Facility) thus facilitating the customers to know the power and convenience of Internet Banking. The chapters in different functional aspects of CINB contain the detailed step-by-step procedure to be followed at the customer level. The screen shots used in this guide are sample screenshots. This Guide will enable the customers to easily carry out their transactions from the desktop either from office or home. We welcome your valuable suggestions, responses through email (agmcnc.lhoban@sbi.co.in) to bring about enhancements in the Guide to improve its utility. Local Head Office Circle Development Officer January 1 2006 4 CHAPTER 1 INTRODUCTION: Bank’s earlier efforts on computerisation in the past were focused on bookkeeping aspects. The objective of the current phase of computerisation is to deliver substantial benefits of computerisation to the customers. Corporate Internet Banking is one such innovative product. Corporates are a very important business segment, both in deposits and advances, and non-fund based business in its entirety. This segment of business is a constant target of competitors who are luring them with business and technology features. Corporate Internet Banking has been designed: 1. To take care of technology part of the competition 2. To deliver service which is tailored to blend with processes within the Corporate 3. To retain control over all the critical aspects of the transaction, which fall within the bank’s responsibility and let the Corporate take control of all other actitivities including the variables within the process. Thus, what Internet Banking will give a Corporate is a transaction process which is: a. Fully flexible b. Fully secure c. Has Multilevel controls d. With no single point of failure This ensures that the transaction requests emanating from the customer fully satisfies all internal controls at customer end and all the requirements of the Bank. What does Internet Banking mean to a Corporate? State Bank of India’s ‘Corporate Internet Banking‘ enables Corporate customers to carry out banking activities from the desktop, aided with the power and convenience of the Internet. SBI’s objective in developing this service is to remove the restrictions imposed by geography and time on the ordering of transactions, while granting full flexibility to the Corporate to manage its transactional banking, with least intervention and input from the Branch. Even while banking over the Internet, the Corporate should continue to be vested with complete control to bind the transactions within its own rules i.e. flexibility for granting discretionary access on banking accounts to internal users, dynamically manage permissions on banking transactions and monitor transactions. Corporate Internet Banking Service will give the Corporate the freedom and ability to carryout all this with least dependency on the Bank. 5 CHATPER 2 SALIENT FEATURES OF CORPORATE INTERNET BANKING: 2.1 The following Internet Banking features are available to Corporates. a. Business to Self i. Funds transfer from one account to another b. Business to Business i. Third Party funds transfer ii. E-payments iii. E-Receivables c. Business to Employees i. Salary and other payments d. Business to Institutions a. Payment of EPF contributions b. Airport Authority of India Payments c. Port Trust Payments e. Business to Government i. DGFT payments ii. Customs Payments iii. Online Tax Payments (OLTAS) iv. Excise Duty Payments 2.2 The following are the highlights of CINB: • Single debit multiple credits • Single/ Multiple Authorisations • Dynamic definition of access control and access rights • E-payments/E-receipts to/from registered users 2.3 The Modules available in CINB, to suit the Corporate’s requirement starting from ‘enquiry only’ to end- to- end integration, are a. KHATA (enquiry only) Used for enquiry on all accounts at one Branch b. KHATA PLUS (enquiry only) Used for enquiry on all accounts at various branches across the country c. VYAPAAR (enquiry and transaction) User Profile: For Corporates maintaining account at any one SBI Branch. Product design: Single Transaction not to exceed Rs.5 lakhs. No limit on the number of transactions. Permitted Transactions: 1) Funds Transfer 2) Third Party Payment 3) Draft Issue 4) Payment to Registered Suppliers 6 d. VISTAAR User profile: For corporates maintaining accounts at multiple branches of SBI. Product Design: Complete range of Online Transactions Facilities available to our customers in this module: • Funds Transfer • Third Party Payment • Draft Issue • Payment to Registered Suppliers Corporate can receive/make payment using this feature. Transaction related data will flow along with payment message to the supplier. It facilitates B2B information exchange together with financial settlement. Ideal for use in routing payment/order information within Supplier- dealer/ vendor/agents’ network. • Bulk Upload Facility (Payments file, e-receivables file) Corporates can upload a file containing transaction details. This facility will resolve tedious online data entry for multiple transactions. Salient points of this functionality are: Seamless integration of company’s system with Bank’s system. Generally, a business requires features to handle: Bulk Payments Salaries Vendor Payments Bulk Receipts Sales Invoices Bills due • Information communication between 2 systems and transaction processing with minimal manual intervention. • Huge limit on the size of individual transactions Request for issue of Demand Draft Rs.1 crore per transaction Third party funds transfer upto Rs.100 crores per transaction and no limit on the number of transactions. 2.4 The following Security features are built into the Site: • Internet Banking Site Certified by Verisign (a well known company which issues certificate regarding the safety and security of the site for the users) • Site Certified by Reserve Bank of India • 128 Bit SSL encryption at session level • HPIN based password Security • Multiple users and user-level security • Powered by ‘BROAD VISION’ CRM Servers • Implemented & Managed by Satyam 7 2.5 BENEFITS: 2.5.1. To Corporate Speed and Empowerment Banking from the desktop Banking at convenience Reduce transaction related workload Define and manage five-tier security features, on the fly Permit executives to operate/monitor accounts remotely Permit executives to participate in transaction authorisation remotely. Pro-active management of Cash Flows Ease in reconciliation of entries MIS at the click of the mouse Reduction in paper work 2.5.2. To Bank A happy & satisfied Commercial customer Paperless – reduced overheads on vouchers, cheque books, statement of account etc., Onus of safety and control over accounts shared with Corporate Helps in Preparing for introduction of Core Banking 8 CHAPTER 3 ROLE PROFILES IN CORPORATE INTERNET BANKING 3.1 Role Profiles for Corporate Customers: 3.1.1 Administrators S.No Designation Role/Responsibilities Profile 1 2 Regulator Local Admin Overall control of Internet Banking System and implementation of security features for the whole Corporate. Does not/cannot participate in transactions. Administration of the Internet Service and implementation of Security features at Divisional Level. Does not/Cannot participate in transactions. Familiarity with computer systems and empowered to review the working of the system. Important communications from SBI will be addressed to him, barring those that are specific to the operational users. Reasonable knowledge of system administration. 9 3.1.2 Banking Users 1 2 3 4 5 6 Super Enquirer Account Viewer Cheque Writer OR Maker Cheque Signatory or Authorizer Approver Uploader Views Corporate level information. Accesses Division level information. Access to uploads/Finance/ cinb-customer-guide.pdf