As part of financial inclusion, banks are required to open accounts in the respective wards as allotted by the Government bodies. Since many of the accounts are required to be opened in remote / rural locations, banks tie up with Business Correspondents (BC) to facilitate the account opening and transactions on behalf of the bank.
The Business Correspondent Management System (BCMS) developed by NUCSOFT provides banks a tool to manage BCs and streamline several processes related to BC management. Previously BC management was performed by capturing data manually and tracking this data through excel sheets. With the BCMS system, NUCSOFT has aimed to digitalize the entire process to make it easy and seamless experience for the bank.