Mindmill Software - BankMill universal banking system

Overview:

Mindmill Software Limited is headquartered in New Delhi, India and was established in 1993. Mindmill Software Limited develop a centralized core banking software which is browser based using applet technology. The banking product is sold under the trade name of BankMill. Mindmill specialize in software products in the banking domain and have a full suite of software products including the following:

BankMill is a suite of banking software products and BankMill product has been in use since 2002 in several banks in India and elsewhere in the world.

Mindmill is ISO 9001 certified since 1998 and their production processes are SEI CMMi Level 5 Compliant. As of June 2007, Mindmill has clients in 14 different countries including US, UK, Canada, Japan, France, Austria, Australia, Israel, Ireland, Switzerland, South Africa, Venezuela, Nepal and India. They have 150 full time employees. Mindmill's DUNS number in the US is 60-872-8981. They are a Microsoft Gold Certified Partner for E-Commerce Software Solutions.

Product: BankMill universal banking system

PRODUCT SUITE
BankMill - Core
BankMill - iRetail
BankMill - iCorporate
BankMill - iFamily
BankMill - eAlerts
BankMill - MindTouch
BankMill - Mobile
Bankmill - iGilt
BankMill - eCheques
BankMill - imCheque
BankMill - MindConnect

BankMill - Core is a core, centralized banking solution offered by Mindmill Software Limited. It is a completely new version of the earlier products. It uses the state of the art technology where the application runs in a browser and the front end is not required to be loaded in each computer. The system is browser-based, user-friendly, centralized, full-fledged banking application that allows a bank to conduct its business with its customers along with full MIS reports and internal management tools. BankMill allows a bank to be a global bank (a product offering change in a single place makes the change applicable for all branches), and have global customers and global branches. Specifically, the bank can perform the following functions with the centralized core banking software:

Retail Functions

Corporate Functions

Major Modules / Functionality:
System Administration
Interest Calculation (Batch, EMI, Maturity & Prediction)
Lot Management
Charges
Cash
Remittance
Customer Management
Customer Account Management
Product Definition
Interest Definition
Standing Instructions
Clearance & Stop Payment
Masters
Financial Transactions
Various Reports
Cooperative Bank Module
Treasury

All banking modules are multi-currency

Back Office Modules
SWIFT Messages
Anywhere Banking
Remote Banking
Workflow
Administration
Reports
Inquiries and Reference File Inquiry
Letter Generator
Company Accounting
HR & Payroll
Inventory Functions
Supply Chain Management

Functionality specific to Corporate Banking is:
Term/Non Term Corporate Assets
Non Fund Corporate Assets
Foreign & Domestic Outward Sight/Usance Bills For Collection
Foreign & Domestic Clean/Documentary Bills Purchased/Discounted
Imports & Exports Letter of Credit
Inland & Foreign Guarantees
Forward Contracts

Functionality specific to Cooperative Banks which is enabled through parameterization include:
Member creation, deletion and update
Bank shares management, share allotment and redemption by members
Dividend declaration, and payout