NexorONE
by Banking Systems
by Banking Systems
Profile Information Last updated on: 29 August 2024
Profile Information Last updated on: 29 August 2024
We help make selecting a software for your business effortless, economical and efficient.
by Banking Systems
by Banking Systems
Profile Information Last updated on: 29 August 2024
Profile Information Last updated on: 29 August 2024
Overall, the implementation process for NexorONE is designed to be quick and efficient, with a focus on scalability and support to meet the specific needs of different financial institutions.
1. Modular Structure: NexorONE offers a broad diversity of modules that can be activated and customized within the system at any time. This allows businesses to tailor the software according to their specific operational requirements.
2. Integration Capabilities: The software can integrate with any provider in the market using APIs. This includes major Compliance Solutions, Payment/Merchant Platforms, Card Providers, Market Feeds, ACH/Check Clearing Services, and Communication/Support Solutions. Such integrations enhance the software's adaptability to various business environments.
3. Custom Product Development: NexorONE supports additional Custom Product Development, which means that new functionalities can be developed and added to the system to meet unique business demands.
4. User Interface Customization: The software offers a fully customizable interface, allowing businesses to modify the user experience to better align with their branding and operational workflows.
5. Scalability: The CORE Package of NexorONE is designed to grow with the business needs. Its scalable nature ensures that as a business expands, the software can be adjusted to accommodate increased demands without compromising performance.
6. Diverse Financial Services: NexorONE is designed to serve a wide range of financial institutions, including private banks, online financial institutions, credit unions, and payment processing companies. This diversity underscores its capability to be customized for different types of financial operations.
NexorONE's pricing structure includes several components that potential users should consider:
Overall, while the initial setup fee is clearly defined, further costs related to maintenance, support, and additional services would depend on the specific needs and agreements made with NexorONE. Institutions interested in the software should contact NexorONE directly for a detailed quote tailored to their requirements.
NexorONE offers a comprehensive range of training and support options to new users to ensure they can effectively use the software. Here are the key aspects of the training and support provided:
1. Support Channels: NexorONE provides multiple channels for support, including Email, Phone, Live Support, and Tickets. This variety ensures that users can choose the most convenient way to get help when needed.
2. Training Options: The company deploys a Sandbox/Test Environment for training and demonstration purposes. This allows new users to familiarize themselves with the software in a controlled environment before going live.
3. Tutorial Videos: NexorONE offers tutorial videos on its support page. These videos cover essential topics such as first-time login procedures, accessing settings menus, enabling modules, and creating new users, which are crucial for onboarding new users.
4. 24/7 Support: For urgent and immediate assistance, NexorONE provides 24/7 support with a live representative. This is particularly beneficial for addressing critical issues that may arise during non-business hours.
5. Knowledge Base and Chat: Users have access to a knowledge base for self-service support and can use chat functions for real-time assistance. This helps in quickly resolving common queries and issues.
6. Customizable Training: NexorONE offers customizable training sessions tailored to the specific needs of an organization, given the software's customizable nature.
NexorONE has implemented several robust security measures to protect data and ensure the safety of its online banking platform. Here are the key security features:
1. Deployment on Secure Servers: NexorONE is deployed on AWS Servers that deliver PCI Compliant hosting with Banking Grade Security Standards. This ensures that the infrastructure hosting the software adheres to the highest security standards.
2. CloudFlare Security Protection: The software uses CloudFlare to provide security protection against all types of online threats. This includes DDoS attacks, which are common threats to online platforms.
3. Continuous System and Security Improvements: NexorONE continuously updates its system and security measures. These updates are installed without operational interruptions and with immediate effect, ensuring that the system remains secure against new vulnerabilities as they are discovered.
4. External Integrations Security: NexorONE can integrate with various external software and service providers, and these integrations are added and customized with a focus on maintaining security and competitive resource use.
5. Comprehensive Service Contract: After installation, NexorONE offers a Hosting and Support Solution Package that includes a comprehensive service contract. This contract likely covers ongoing security monitoring and support to maintain the integrity and security of the system.
NexorONE handles updates in a manner that ensures continuous improvement and minimal disruption to its users:
This update strategy highlights NexorONE's commitment to maintaining a robust and reliable platform for its users, ensuring they have access to the latest features and security measures without experiencing service disruptions.
1.Data Ownership: Typically, in online banking platforms NexorONE, data ownership policies ensure that the financial institution using the software retains ownership of its data. This means that the institution has control over the data collected and stored within the platform.
2. Data Portability: NexorONE offer data portability features to comply with regulations and client needs. This would allow institutions to export their data in a usable format, facilitating migration to other systems if necessary.
NexorONE software is designed to be highly scalable, accommodating both scaling up and scaling down as organizational needs change. Here are the key aspects of its scalability:
1. Modular Structure: NexorONE operates on a modular structure, allowing organizations to activate or deactivate various modules based on their current needs. This flexibility is crucial for adapting to changing business environments and scaling operations either up or down without requiring a complete system overhaul.
2. CORE and FULL Packages: The CORE Package offers basic functionalities with the option to add more modules as needed, which is ideal for organizations looking to scale up gradually. The FULL Package includes all available modules, which can be customized and activated at any time, providing a comprehensive solution for larger organizations or those needing a full suite of services from the start.
3. Custom Product Development: For organizations with specific needs that go beyond the available modules, NexorONE offers custom product development. This service allows businesses to tailor the software to their unique requirements, ensuring scalability and flexibility.
4. Integration Capabilities: The ability to integrate with any provider in the market using APIs further enhances NexorONE's scalability. This means that as an organization grows and its needs become more complex, NexorONE can seamlessly integrate with additional systems and services to expand its functionality.
These terms ensure that NexorONE can adapt to an organization's changing needs, providing a scalable online banking solution that grows with the business.
1. Renewal Process: Typically, software services NexorONE might offer automatic renewal at the end of each subscription period unless the client decides to cancel or modify their subscription. This would generally require the client to notify NexorONE of their intention not to renew before the renewal date.
2. Cancellation Policy: Clients might have the option to cancel their subscriptions at any time, but specific terms, such as notice periods and any potential penalties or fees, would typically be outlined in the service agreement. For instance, if there's a commitment period, clients may not be able to cancel until this period has expired without incurring penalties.
3. Modification of Services: Clients may have the flexibility to modify their service package, either upgrading or downgrading their subscription, depending on their current needs. This could be particularly relevant for a modular system like NexorONE, where clients can choose to activate or deactivate certain modules.
4. Financial Terms: Any financial implications of renewing, not renewing, or canceling the contract, such as refunds, credits, or owed payments, would typically be specified in the contract. For example, if a client cancels a service, they might still be responsible for payment until the end of the current billing cycle.
NexorONE software meets several key compliance standards that are crucial for financial institutions. These include:
1. Standard and Enhanced CIP (Customer Identification Program): NexorONE supports both standard and enhanced CIP, which are essential for verifying the identity of individuals who open accounts.
2. CDD (Customer Due Diligence): The software includes features that support CDD, a critical process that involves the collection and analysis of customer information.
3. KYC (Know Your Customer): NexorONE is equipped with compliance rules for KYC, which helps in the identification and verification of clients' identities, essential in the banking sector.
4. AML (Anti-Money Laundering): The platform includes AML compliance features, which are necessary for monitoring and preventing money laundering activities.
5. OFAC/FATCA: NexorONE also supports compliance with OFAC (Office of Foreign Assets Control) and FATCA (Foreign Account Tax Compliance Act), which are important for international financial regulations.
By Banking Systems