Case Study: IFTAS achieves centralized, faster PACS operations with Nelito's FinCraft CBS

FinCraft™ CBS, PACS - Application Software on cloud to 70 PACS of IDCB in collaboration with IFTAS

Indian Financial Technology & Allied Services (IFTAS), India’s IT services provider for the banking and financial sector, needed a way to centralize and automate operations across 70 PACS under IDCB. The organization faced challenges such as fragmented legacy systems from 11 vendors, gaps in old data, regional language barriers, and a need for rapid 7-day-per-PACS implementation. Nelito Systems Ltd. was selected to address these requirements with its FinCraft™ Core Banking Solution (CBS) and related cloud-based PACS application software.

Nelito Systems Ltd. implemented FinCraft™ CBS on cloud for all 70 PACS in collaboration with IFTAS, including data migration, staff training, and customized modules such as chit fund, HR payroll, share management, and head office functions. The rollout was completed in just 5 months, with 700 PACS employees trained within 3 months and post-migration issues resolved within the stipulated period. The result was faster service delivery, stronger decision-making through MIS reports, and the ability for PACS to offer services comparable to medium and large banks.

Indian Financial Technology & Allied Services (IFTAS)