Bell Integrator has completed a project to modernize National Settlement Depository’s billing system. Owing to newly developed billing system modules, the financial company can automate a large number of manual operations, speed up system operations, and set up fee plans for its clients in a more flexible way.
Modernization allowed NSD to perform a flexible fee formation and to automatically manage fee plans. Moreover, it significantly reduced the time required to calculate fees. Now, NSD can make personal fee offers to its clients, reducing the time required to present new services to the market, responding to client needs in a faster way, and providing an individualized approach.
The modernized system automatically records credited funds, monitors debts, generates reports and settlement documents which have to be stored within an established time period, and conducts information exchanges with other electronic systems and databases involved in the process.
In addition, during the software modernization process a large number of operations were modernized; it accelerated settlements and reduced risks related to employee errors.
“The billing system is one of the critically important ones of the National Settlement Depository. However, due to the company’s business specifics, work with clients (major financial organizations) requires an expansion in the range of services and a change in the fee plans. NSD’s operations are on the whole regulated by laws; this means that billing system changes have to happen on a strict timeline.
The new flexible settlement system provides fast and low cost adaptation to new business tasks and takes into account NSD’s business specifics,” said Pavel Andrianov, IT Director, NSD.