Banks and NBFCs are using channel partners to source lending business. The numbers are significant (INR 25,000-50,000 crores a month) and on an average 2.5% to 3% of the loan amount is paid as a commission. The payout structures are complex and not easy to manage. Organizations have in the past, attempted to automate the payout process with little success.  The complexity of calculation, preparation of invoices as required by GST, tracking and payment has made the entire activity more challenging.

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S I M P A Y Module© is a proprietary payments portal for servicing Sales Channel Partners powered by our proprietary template engine SimPlate©. It is based on business metadata and is supported by powerful and configurable templates. It comes with a proper user management system which can allocate the right responsibilities and controls to the person-in-charge. The system also maintains an audit trail for every action taken on the system which brings credibility to the system in the eyes of RBI.

 

Current Process is designed to configure business templates, upload files which come from core systems or by implementing interfaces and run commission calculation for DSAs, DDSAs and DSEs. This calculation also involves GST calculation and reporting. The system also generates invoices and sends them to the Partners while allowing the bank to track the status of the invoices as well.

 

The proposed process will enable templates to be created in the system itself without the need for coding which can be attached to the DSAs as needed to calculate commission.

 

With modules coming in to manage exceptions and cancellations, S I M P A Y © will become a one-stop solution for all partner payments, from defining business rules to commission calculations to the management of exceptions and cancellations to the calculation of GST to invoice dispatch and tracking.