bMASTER - Features: Core Banking

Core Banking

bMASTER Enterprise Banking System - Core Banking is the heart of the System which covers the typical functionality of any Financial Institution needed to support its primary operations. This functionality can be adopted according to the strategic needs and operational requirements of the Financial Institution.

Customer Information File (CIF)
The CIF is the nucleus of the Core Banking System, where all information related to individuals and legal entities is managed. bMASTER Enterprise Banking System makes a clear distinction between individuals and companies. This distinction helps to better define the relationship between an individual or a company (a customer or prospective customer) and the financial Institution, to calculate Profitability, risk and to set the ground for CRM.

Customer Relationship Management (CRM)
The Customer Relationship Management (CRM) is a set of tools and services that the System offers in order to implement customer-centric business strategies.

This will drive redesigning of functional activities in order to identify, win, keep, and develop profitable customer base.

Financial Accounting
The System offers integrated financial accounting compliant with any accounting standards (including IAS, GAAP etc).

This innovative functionality is achieved through the architectural design of the system which supports business events (managerial financial events) that are later mapped into financial accounting based on user defined business needs.

Financial accounting has an open architecture to import and map transactions from other solutions (Stock Brokerage solutions, leasing etc) into bMASTER Enterprise Banking System and present them from a single point of view as if they were recorded by the System.

Product / Services Design
The System has a very powerful product definition enviroment which allows fast time-to-market launch. Product designer incorporates an on-line audit trail, keeping the product history, along with the evolution of each product in time.

Access Control & Security
bMASTER Enterprise Banking System incorporates multiple security mechanisms, enabling the definition of access control and rights management across the system for every role. Using this powerful mechanism the bank can map its current security (and access rights) measures into the system, and create custom authorization rules for a secure operational environment.

Deposits
bMASTER Enterprise Banking System supports an extensive range of deposits (saving accounts, chequing accounts, time deposits, under notice, with overdraft capability) in any currency. All deposit products are defined with the "Product Designer", allowing the Financial Institution to design and offer deposit products based on its strategic and operational goals.

Loans
bMASTER Enterprise Banking System supports an extensive range of loan products (corporate, consumer) as defined in the "Product Designer". In all cases loans are accompanied by collaterals and are limited according to a set of structure limits.

Loans also incorporate an integrated Reports Wizard and Business Intelligence tool in order to design custom reports and perform data analysis services.

Teller transaction support
bMASTER Enterprise Banking System has a teller interface which supports the following processes:

Financial and Managerial events posting
Proof
Cashier management (balance per currency, travelers' cheques etc)
Issuing of slips for each event
Journal
Passbook
Issuing and printing

Letters of Guarantee
bMASTER Enterprise Banking System issues and manages letters of guarantee.

SWIFT
bMASTER Enterprise Banking System incorporates an engine for constructing SWIFT messages from the System that will later be transferred to SWIFT Alliance. It covers an extensive range of all common messages needed, from the day-to-day operation of the Financial Institution.

Funds Transfer
bMASTER Enterprise Banking System incorporates electronic funds transfer which can support transfers from any type of source to any type of destination at any possible combination.

Management Information System
bMASTER Enterprise Banking System offers an integrated Business Intelligence and reporting solution, based on the tools and solutions of Microsoft SQL Server 2000 technology (Data Warehouse, Data Marts, OLAP tools and Data Analysis Services), and on a robust business model that covers all the information needs of a bank (from a decision support, operational, auditing and risk perspective).

Statutory Reporting
bMASTER Enterprise Banking System covers a wide range of reporting (Central Bank reporting). These reports can be integrated in the Management Information System.

Account Management
bMASTER Enterprise Banking System incorporates a robust account management, offering extensive customer positions, product portfolio and business information on customer, his portfolio of products, his relation with third parties (and their restrictions), allowing the bank to have a complete customer view.

End of Period (End of day, month, year)
bMASTER Enterprise Banking System incorporates an innovative end-of-period mechanism (which can run simultaneously during working hours, eliminating the need of batch processing at the end of the day), which allows the bank to have a complete financial position at the end of the day (per branch, business unit or the whole organization).

Term Contracts
Term Contracts manages time deposits, Treasury Bills, REPOS and loans, for issuing a new contract (in any currency), changing the action to be taken upon maturity, closing the term contract, or changing its interest rate.

On Line Authorization (OLA)
The access to the system's functionality is controlled throughout this innovative mechanism. It controls the applications' business rules, during the executing of any task within the system. It incorporates an innovative chat mechanism, which allows the real-time communication within the branch or across the WAN (with an authorized role) for authorization.

Scoring
Although each bank has its own credit scoring methodology, this mechanism is designed to meet any credit scoring methodology (score card) and minimize the bank's exposure (and credit risk associated with the granted loan) by processing the application data, assigning weights to each part of the application and finally indicating access if the loan will come default.

General Ledger
General Ledger Engine acts as a "bridge" between the Front-End and the Back-End of bMASTER Enterprise Banking System.

It generates all general ledger entries from daily transactions carried out by the Front-End (withdrawals, deposits, loans, time deposits etc) and from all banking applications, to create such entries that enable various reports to update the general ledger.

Among the functions of General Ledger mechanism are closing of the day, revaluation of the position accounts, mapping transactions, and generating a unique trans code and (YSN) Yearly Sequencial Number for tax authorities.

Cheques Management
It handles the whole life-cycle of cheques, from cheque ordering to cheque printing, in a centralized or decentralized model.

Limits
bMASTER Enterprise Banking System offers an advanced limits management functionality, that allows the bank to monitor and manage its exposure on multiple levels (group, organization, individual, products currencies accounts etc). It offers an innovative graphical representation of the limit exposure, in order to easily manage (and grasp) complex limit structures.

Collaterals
Along with the limit management module, the bank has an overview of its risk exposure with the collateral module that supports any type of collaterals. It offers a Collateral registry and linking of collaterals to accounts.

Interface with clearing systems
bMASTER Enterprise Banking System supports universally accepted messaging standards such as ISO 8583 and XML. This allows the exchange of information with external systems (third party systems) such as automated clearing house (ACH) systems, cheques clearing systems, etc.

Business Process Management
It enables business users to create, monitor and modify process definitions (which interact with systems and people, from inside or outside of the organization), and the automatic execution of those processes.

The solution has an integrated graphical processes designer, which enables business users quickly and easily to model and modify processes without programming. This enables the dynamic modification of business processes (even after they have been initialized), seeking continuous process improvement, discovering of problem areas (bottlenecks in the model) resulting in increased employee productivity. The solution also offers scripting capability, which allows the interfacing with internal / external databases and solutions.

The end users of the process management solution, work with html forms (web browser), which are designed by the business users (for each point of the process). This enables the dynamic update of all client workstations, with new business models, without additional effort.

Arrears Management
CRM Collections (Arrears Management) is a modern arrears management solution, which manages the coordination of efforts for collection of arrears from any type of products (loans and credit cards, overdraft, excesses etc). The solution is based on a flexible business model for arrears management, and can be applied either at the call center division (which manages the collection of arrears) or at multiple locations covering specific market and area needs.

Loans origination
It is a complete loan application processing system, which manages the approval process of the loan. It tracks the progress of application on every stage of the life cycle (which is custom tailored for your organization) across different departments and different roles.