Key Features of Banking Software with Inter-branch Reconciliation

• Have Audit Trails for each transaction in the system which is kept with date, time and user-id stamp.
• Have 3DES Encryption which implies all data between a device and the backend is transmitted after encrypting it with industry standard 3DES encryption. This prevents any snoopers to sniff the channel and get financial data information.
• Have MD5 Encryption which means all passwords are kept using industry standard MD5 encryption.
• Have Data Security which implies data is kept secure using database login and password
• Have Access Security.
• Have Service Outlet Concept which means each branch or delivery channel is designated as a service outlet and each transaction can be tracked at a service outlet level.
• Have Maker Checker Concept which allows the bank to have double or triple checks in place by having one person make an entry, another to verify it and sometimes if necessary a third to re-verify or enable it.
• Allows the bank to provide financial transaction access to third party solutions such as ATMs and Credit Card Institutes such as Master Card and Visa.
• Can be Multi Lingual on request
• Enables Auto Generation of Customer Letters
• Enables Unified Relationship Management across related but different customers and Multiple Accounts of the same Customer
• Single account book means all transactions across all delivery channels are made at the same place and the customer can get a unified view of his account.
• Accounts can be opened at any level including teller.
• All customer services are available, including cash, clearing, and transfer.
• Completely parameterized standing instructions input and execution including prioritized debit from multiple accounts and rule based credit to multiple accounts.
• Statement printing is available from all the various delivery channels
• Have Tree Based GL Head Structure
• Have Single bank-wide General Ledger, Profit & Loss and Balance Sheet for all modules
• Have detailed MIS including Asset Liability Reports
• Have Text and WYSIWYG [what you see is what you get] based Reports
• Enables Multi Currency
• Have all Liability Product Support [Including but not limited to products such as Current, Savings, FD, Recurring Deposits and Reinvestment products]
• Have all Asset Product Support [Including but not limited to products such as OD, Cash Credit, Fixed and Term Loans]