STIR Project Overview (ICICI Bank)
- Purpose: Facilitates seamless inward remittance between India and other countries.
- Data Input:Transactions received in SWIFT files.
Separate files for beneficiary, remitter, and transaction details.
- Process Flow:Data editing and verification update transaction statuses.
Automation through schedulers for each step.
- Schedulers:UnwireBeneScheduler: Validates beneficiary and remitter details.
WireNEFTScheduler: Adds NEFT accounts.
CredenceScheduler: Retrieves deals from Credence.
DisbursementScheduler: Disburses funds to beneficiary accounts.
- Outcome: Automated, efficient processing of cross-border remittances.
Smart Repeat Project
- Purpose: Connects individuals directly to banks for international money transfers.
- Process:Enter the transfer amount in the application.
Submit a declaration form.
Bank processes the request and transfers money to the recipient's account within the specified time.