Evolvus is enabling banks to deliver a seamless payment experience through e-mandates. Our Flux e-mandate solutions enable a secure platform for automating repeated payments like utilities, loans, insurance premiums and more.
E-mandate solution is extremely beneficial for NFBC’s, educational institutions, manufacturing and financial institutions who need a smooth payment pipeline. The existing mandate process is extremely cumbersome paper intensive process where the customer obtains NACH mandate forms and submits it to the sponsoring banks. The sponsors further move for approval from the destination bank. The mandate approval process takes almost T+5 days, sometimes even longer in-case of documentation errors, validation mistakes and verification problems
Flux e-mandate facilitates processing of mandates that flow from destination bank to sponsor bank or vice versa. It is one among the few leading solutions that supports all 3 variants of e-mandates introduced in NACH by NPCI.
E-mandates also can be undertaken through API wherein the mandate details are entered on the corporate/aggregator’s webpage. Such e-mandates can be triggered through e-Sign wherein mandates are submitted after digital authentication with Aadhar credentials.
“Flux E-mandate is a digitization accelerator for banks with capability of processing over 100K mandates per day. We are delivering a robust and secure platform that removes all paper dependencies and ensure a faster settlement process for all stakeholders,” says Balaji Jagannathan, CEO, Evolvus Solutions.
The Flux e-mandate solution is equipped with ready integration adapters that can adapt to any e-Sign providers. This enables a faster on-boarding process with low TCOs. Banks and corporates can leverage our decade long expertise in the payment industry to move to the next level of digitization.