Core Banking

Core Banking controls the major banking processes and configurations that support your banking products such as contracts and changes, repayments and collection, limits, collaterals, and groups.

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FintechOS Core Banking aims to help banks with the management of records and processes during the life of the business relation with a customer, may it be on lending with underlying limits and collaterals, deposits, minimum current accounts capabilities and some other areas to be considered in the future.

FintechOS Core Banking solution gives financial institutions the possibility to:

  • Create customer records
  • Setup and manage limits
  • Create and manage contracts & payment schedule
  • Repayments & collection​
  • Transactions and change management including disbursement, early payment, payment holiday, reschedule overdues
  • Reconciliation accounts
  • Payments integration
  • Transaction mapping

Authoring processes are in place following defined competence levels.

Accruals and provisions are automatically calculated and all transactions are booked in the accounting following the defined general ledger mapping and rules in the Operational Ledger solution, 100% integrated.

Core Banking Capabilites

Users with appropriate access rights can perform specific tasks using the Core Banking menus found in FintechOS Portal.

Admin Configurations menu contains a series of menu items that enable you to configure the way your Core Banking implementation must function:

  • Holiday menu item – allows you to define the non-working days for specific countries;
  • Allocation Method menu item – allows you to define the allocation methods used by the Core Banking processes;
  • Exchange Rate menu item – allows you to define the exchange rates;
  • Exchange Rate Type menu item – allows you to define the exchange rate types;
  • Operation Item menu item – allows you to define the operation items used by the Core Banking processes;
  • Transaction Type menu item – allows you to define the transaction types used by the Core Banking processes;
  • Loan Classification menu item – allows you to define the risk classifications used for loan contracts within Core Banking;
  • Core Banking System Parameter menu item – allows you to set the Core Banking specific system parameters;

Core Banking Operational menu contains a series of menu items that enable you to manage the records involved in the business relation between a bank and a customer:

  • Bank menu item – allows you to perform bank records management tasks;
  • Reconciliation Accounts menu item – allows you to perform reconciliation accounts management tasks;
  • Customer Core menu item – allows you to perform customer records management tasks;
  • Customer Limit menu item – allows you to perform customer limit management tasks;
  • Collateral Register menu item – allows you to perform collateral registration tasks;
  • Contract menu item – allows you to perform contracts management tasks;
  • Credit Facility menu item – allows you to perform credit facilities management tasks;
  • Repayment Notification menu item – allows you to view generated repayment notifications.

More details here.

  • In order to install Core Banking v3.0, first, you need to install the following:
    • Innovation Studio minimum version v21.2.1
    • Standard SysPack minimum version v21.1.6002
    • Single Customer View (Retail & SME) v3.1
    • FTOS.Foundation – Project
    • Banking Product Factory (Project or Standard Pack) v3.0.
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Tags

contractadmin, coreadmin, corebanking, corelending, productsservicing

Team

FintechOS