Introduction to Front End Processes

Temenos Transact is a customer – centric system. The single customer view (SCV) is a front end screen which has been designed:

  • To have all relevant information pertaining to a customer, to be available to a bank customer facing user such as a customer service agent
  • The ability to be able to drill down to common transactions conducted by bank customers, when they meet customer-facing staff

The SCV has now been modified to include elements require by customer facing staff in Canadian banks and financial institutions.

Credit Unions

Credit unions follow the 2 layers for customer process as given below:

  • The first layer called the CIF layer contains the member’s name(s), addresses(s), social insurance number, sector, industry, residence, target, customer status etc. Each member is uniquely represented at the customer layer within the credit union.
  • A second layer is required to represent the relationships that members have among themselves. Information at this layer needs to be derived and maintained from the previous layer as per various rules explained below. This layer is referred to as “membership” or “container” layer.
NOTE:

In case of credit unions for any financial products all the owners related to a container and accounts of the owners are used for processing.

Banks

The banks in Canadian market follows the normal customer process wherein there is no differentiation of CIF and customer.

NOTE:

In case of banks for any financial products only the customer and accounts of the customer are used for processing.

Requirement

As Canadian model bank support functionality for both credit unions and banks, there is a requirement to provide a switch at company level, so that the financial institution can be easily differentiated between bank and credit union.

Functionality Overview

Using the Single Customer View, the bank user can make transfer of funds, withdrawals of funds and other possible financial and non-financial transaction required for a customer.

The Temenos Transact solution to address the above business requirements consist of the following:

  • Access to basic customer details and amendment of the customer details.
  • Creation of account, accessing and amending the existing account of customer
  • Financial transaction on account
  • Creation of deposit and loan arrangement for customer, accessing and amending the existing loan or deposit of customer
  • Financial transaction on loan and deposit
  • Creation of registered plan product for customer, accessing and amending the existing plans of customer, financial transaction.
  • Access to safety deposit box for customer
ClosedCustomer - Container Switch

To differentiate the credit union banking process and normal banking process, a Flag (new field) has been introduced at company level.

ClosedSet up

New field has been introduced in Company application to differentiate the financial institution as a bank or a credit union. If the field is set as Yes, then the normal banking process will be followed by financial institution and if set to No or Null credit union related banking process will be followed by financial institution.

NOTE:

This is one time setup to differentiate bank and credit union.

ClosedLinkage of Flag and Canadian Model Bank Functionality

Credit Union Process:

In credit union process, it is mandatory to create 2 layers for customer (namely CIF and container) before creating any financial product like accounts, etc. Exception is register plan products.

In credit union process, for all Canadian model bank functionality modules a container is used as reference, wherein based on container system fetches the owners (using the relationship code, etc.) and initiates the processes, where in normal banking process this is not relevant.

When the Flag is set to No or Null, the system follows credit union process, wherein container-owner concept comes in to picture.

NOTE:

In case of credit union for any functionality all the related owner at container level and accounts of related owners are used.

Banking Process:

In normal banking process, a normal customer is created and the same is used as a reference to process CAMB functionality. Hence the system check to fetch the owner based on customer is not relevant.

When the Flag is set to Yes, System follows normal banking process wherein system does not look for owner based on customer.

NOTE:

In case of Normal banking process for any functionality only the particular customer and accounts of that particular customer will be used.

ClosedHelp text Menu, Versions and Enquiries

In case of credit unions version, enquiries and menu of CAMB functionality have reference to container or membership instead of customer which is not relevant to normal banking process. Hence 2 set of menu will be used one for credit union with reference to container or membership term and relevant functionality and other for bank with no references to container or membership concept.


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