|
The following functions are applied:
Home Bank Maintenance
This is the highest level of parameterization, by which the
bank defines parameters which sets the outline of his polices, such as defining
base and local currencies, period ends and processing parameters.
Product Maintenance
This is what other people call chart of account, by this the
bank defines any new product with all its parameters and accounting controls.
Currency Maintenance
This allows the bank to define its own currency codes and
other currency related parameters (i.e. week-ends, weekend days, minor currency
units, etc.)
Branch Maintenance
This maintains data for Bank branches - descriptions, type
and details of branches’ data communication.
Charges
This provides facilities to set charges for various bank
services, so the system can calculate service costs and debit customer accounts.
Can be define on two levels:
• Bank level •
Account level
Function Authority/User Roll
All application functions have a departmental and maximum/
minimum authority level that can be set by the user bank.
General Ledger
Ledger balances for each day with back-dated ledger balance
maintenance capability. Foreign currency revaluation and profit / loss
calculation at specified periods. Balance sheet can be prepared using current or
cleared balances in real currencies or in the base currency of the bank, for any
day.
Account Management
The following list includes a few of the accounts that can be
created using various in-built accounts parameters.
• Current
Accounts • Saving Accounts • Time Deposit Accounts
• Call Accounts • Overdraft Accounts
Account Controls
System provides account controls. These can be exercised from
any branch using the interbranch facility. These are:
• Block
Funds • Stop Payments • Account restrictions
• Standing instructions • Balance limits •
Temporary facility parameters
Interest calculation
The system has the ability to adjust the interest. Backdated
transactions or retroactive change in interest rate or calculation parameters
could require this. The process is capable of using tiered interest rates either
incrementally or totally. System supports floating interest rate and other
methods.
Transaction Processing
Transactions update the Account and Contra balances in real
time, always utilizing verification features (including requests for automatic
manager approval for exceptional transactions).
Inter branch Banking
An integral part of the system, this smoothly handles all
types of communication (including leased or dial-up circuits).
Clearing
Inter-branch facilities can be used for inter-branch
clearing, so that the banks Central Clearing House can debit customer accounts
directly.
Postdated Cheques
The system records postdated cheques deposited by account
holders, and automatically tendered for clearing when due.
Standing Instructions / Standing Orders
Customers can give various instructions regarding periodic
transactions against their accounts. The system automatically implements the
instructions at pre-specified periods.
Enquiries
Numerous enquiry features are embedded in the system - for
retrieving customer information quickly or for operation monitoring and control.
Customer Enquiries
A wide range of pre-specified enquiries exist at customer and
account level:
• Soft Enquiries: Customer
enquiries along with display functions are available as ‘soft functions’.
These can be used within business activity functions. •
Other Enquiries: Other numerous enquiries and display functions are
available and can be further tailored to meet the various
demands of our Bank clients for customer information.
Control Enquiries
Extensive enquiries providing information for monitoring and
controlling operational activities at branch and bank level:
•
Other Enquiries: More enquiries are available for exercising proper
control and to provide management information.
Customer Deposits
The system handles customer deposits, without making the
customer to wait for any length of line. He hands all his deposits in the front
office, where he is credited with cash and total clearing. In the back office
his cheques are read through MICR reader or manually entered to complete the
data entry and verify the front office entry. This can produce electronic file
for the clearing house which can be sent as electronic mail or transferred
directly to the central clearing house. Similarly the system will process the
data thus received as clearing withdrawals or returned cheques, using
electronically transmitted data or MICR read locally.
Cash Management
The system provides comprehensive standing instructions for
the customer to maintain a minimum balance in his chequing accounts and sweep
all its surplus cash into an interest bearing account after keeping a specified
minimum in the former.
For the bank each cash transaction automatically generate a
contra entry to the cash in hand accounts maintenance at teller level and the
cash in chest. This provides instant position of the cash in hand in various
currencies in a branch as well as across the bank . With this information the
bank interest the surplus instantly.
Transaction Processing for Optional modules
This maintains the financial data for those modules which
have not been opted for by the bank. The financial data for which such
activities will be added by vouchers, however there is a need to maintain the
non financial data manually. The reporting of such data is also in normal
operation reports. The financial data has to be entered into the core system for
maintaining complete general ledger and financial management information.
System Security and Control
The system is a secure system. It maintains the list of
authorized users their level of authority & the period for which they are
allowed to use the system functions. It provides a complete activity list of
each operator and log of successful and unsuccessful activities. It is further
secured by the secure application and controls.
Reports
The core system provides all the standard reports. More than
five hundred regular reports exists in the system. In addition the user can
easily specify his requirements either to be implemented as a regular feature ofBANKS
or for itself. Most of the reports are scheduled. These also can be requested
any time during the operation of the system. Each optional subsystem has its own
set of reports. |