“Ababil Real Time Gross Settlement”, was undertaken by Millennium Information Solution Limited in order to introduce an integrated system whereby settlements can occur in real time. As all the banks are undertaking solutions to apply with their Core Banking Solution (CBS), MISL has introduced Ababil RTGS as a solution to act as the middleware between banks’ CBS, and Central Bank’s infrastructure to ensure smooth flow of operations in real time.

Ababil RTGS aims to convert messages generated by banks’ CBS into the preferred message format prescribed by Central Bank’s system, in order to ensure successful transaction across all banks. Besides this core objective, Ababil RTGS also caters to the following:

  • Provide seamless integration between Bank CBS and RTGS backend (STP Adapter/STP GW/Other).
  • Provide UI and information that is required to support RTGS based operations in the Core Banking System.
  • Keep bank’s own copy of logs of RTGS messages sent, transactions performed and operations executed against those transactions in the CBS.
  • Validate RTGS related operations against bank’s own hierarchies and rule sets.
  • Provide notification to Bank Officers regarding RTGS operations and their status.

Ababil CBS to Ababil RTGS Benefits

  • It helps get rid of integration headaches between RTGS middleware and CBS.
  • It fills in bits and pieces of data that may not be present in CBS to conform to RTGS.
  • It is developed on the same Java technology on which RTGS middleware operates.
  • It can communicate to RTGS middleware through all three possible media – SOAP, File and JMS.
  • Millennium’s product Ababil being a core banking system itself, the business domain of a CBS is more familiar to Millennium developers.

It has a notification mechanism that allows bank officers to know status proactively.

Ababil Internet Banking has been designed with the best in class security features, enabling banks to operate without any worries. Positive feedback from end-user clients along with some very useful features, gives our client banks the edge to stay competitive and connected to their customers. Whether it is business clients enquiring about the status of an impending L/C, SMEs requesting a Mudaraba financing, or simply just personal account holders conducting a fund transfer, Ababil Internet Banking has features for all.

ABABIL Automated Clearing House consists of two components - Automated Cheque Processing System (ACPS) and Electronic Funds Transfer (EFT).

Both the systems operate in batch processing mode- transactions received from the banks during the day are processed at a pre-fixed time and settled through a single multilateral netting figure on each individual bank’s respective books maintained with the Bangladesh Bank/Central Bank.

Automated Cheque Processing Systems (ACPS)

ACPS uses the Cheque Imaging and Truncation (CIT) technology for electronic presentment and payment of paper instruments (i.e. cheque, pay order, dividend and refund warrants, etc.). The system supports both intra-regional and inter-regional clearing and is based on a centralized processing center located in designated clearing regions.

Features of Ababil ACPS include, amongst others:

·         Role-rights configuration

·         Cheque scanning and operational activities

  • Defining MICR devices
  • MICR instrument verification
  • Removing PBM exception items

·         Return and force return functions

·         Transaction searching capability

·         Various Reports

·         Interfaces with external systems

·         SMS alert system

Electronic Fund Transfer (EFT)

EFT facilitates the transmission of payments between the banks electronically, which makes it faster and efficient means of inter-bank clearing over the paper-based system i.e. ACPS. It is able to handle a wide variety of credit transfers such as payroll, foreign and domestic remittances, social security, company dividends, retirement, expense reimbursement, bill payments, corporate payments, government tax payments, social security payments and person to person payments. The system can also handle debit transfers such as mortgage payments, loan payments, insurance premiums, utility bill payments, government tax payments, government licenses and fees.

Features of Ababil EFT include, amongst others:

·         Customer Initiated Entry (CIE)

·         Prearranged Payment and Deposit (PPD) & Direct Deposit

·         Transaction Status and Verification

·         Management of Transaction Entries and Originated EFT Files

·         File Generation for PBM

·         Related Reports