This Is How Inspirria Directly Integrated Oracle NetSuite With Bank Server For Seamless Transactions

If you are running a business, especially a finance-related business, then transactions are the backbone and the most important activity. 

 

In the traditional model, businesses hire employees to manually process transactions such as payments made to the banks, or payments made to the vendors by the banks. 

 

Oracle NetSuite eliminates this manual intervention and completely automates the transactions.

 

In this blog, we will discuss one such case study, where expert Oracle NetSuite Engineers from Inspirria automated the banking-related transactions for a prominent client, and eliminated the need for manual work.

 

The Problem Faced By Our Client

 

Our client runs a fintech startup, that helps users to get instant loans via mobile application: They need to fill in some details and have their credit reports checked, and based on that, loans are disbursed as and when needed.

 

The problem which our client faced was manual work to process the transactions.

 

Once the loan amount is finalized, and ready to be disbursed, their employees manually transfer the money to the user’s account. 

 

They needed an automated solution, which enables direct transfer of the loan amount from the bank to the user, without any manual intervention.

 

And this is where our team at Inspirria weaved magic, by leveraging the amazing capabilities of Oracle NetSuite.

 

Oracle NetSuite Solution For Fully Automated Fund Transfer

 

Our team understood this problem and deployed Oracle NetSuite solutions to completely automate the Electronic Funds Transfer process.

 

For this, we used an SFTP file server, which formed a bridge between the bank servers and Oracle NetSuite deployed for our client’s fintech startup.

 

Leveraging advanced features under financial modules, our team deployed additional checks and compliances before successfully processing the payment from the bank to the users.

 

Since the bulk payment processing is supported via SFTP file server-based automatic funds transfer, our client can now disburse tons of loans to the users, without any manual task or involvement of humans in the process.

 

Incredible Capabilities Of Oracle NetSuite Financial Module

 

This case study is a very good example of how Inspirria can leverage the amazing capabilities of the Oracle NetSuite Financial module, and empower your business to automate critical tasks, without any hassles.

 

And we have barely scratched the surface here!

 

Once we deploy Oracle NetSuite for your business, we can:

- Deploy Dynamic General Ledger, which eliminates the need for manual journal entries and replication of data entry.

- Automate tax filing, based on regional laws and compliance 

 

And more.

 

With over 18 years of experience in delivering Cloud Solutions for startups, enterprises, and SMEs across the Middle East, US, and Asia, we at Inspirria are an award-winning Oracle NetSuite Implementation Partner and Consultants.

Schedule a no-obligation consulting session with our Oracle NetSuite Engineers and Consultants at Inspirria, and find out how we can empower your business with intelligence and automation using Oracle NetSuite Cloud ERP.