Demand Deposit Accounting
Montran’s Demand Deposit Accounting System is an online, real-time customer accounting system that keeps track of all the activities and the balances of the accounts, both current day and for historical days. Fully integrated with the Payment System and can be interfaced with any Payment Engine.
Solution Highlights
Multi-Currency and Multi-Branch
DDA is a multi-currency and multi-branch system, allowing the bank to process transactions from a wide range of systems including National Clearing Services.
Automatic Processing
All the transactions that are completed in the Montran Global Payments Hub are posted into the accounting system automatically.
Monitoring, reporting and control of liquidity
All the Account balances are maintained historically. Inquiry and reports can be made to these account balances at any time.
Interest Calculations
Back valued transactions are posted to the value date and account balances are adjusted accordingly from the back date till current date.
Interests are calculated based on the account balances. Flexible interest rates can be set for each account or group of accounts. The interest calculation can be performed either daily or at month-end. All the accounting entries for the interests are created and posted
Statement Generation
Customer Statements can be generated for accounts with an option of generating these statements at various intervals: daily, weekly, monthly, and yearly.
SWIFT Statements can be generated automatically or End-of-Day.
Extensive Reporting Capabilities
Extensive reports are produced by the system. These reports are generated automatically at End-of-Day or can be generated on demand by the user. In addition to the standard reports generated by the system, the bank can generate any other ad-hoc reports on demand from the database using the standard reporting system.
Flexible Architecture
Montran’s Demand Deposit Accounting Solution is a pure Java application, using IP-based communication and web-based thin-client interface.
Security
Provides high-level, sophisticated security mechanisms that are approved and certified by central banks and industry organizations.
Benefits
EFFICIENT AND HIGH STRAIGHT-THROUGH-PROCESSING
The system reduces operational costs and increases throughput by maximizing the efficiency and enhancing the quality and time to complete the account activities of the customer.
REAL-TIME VIEW
Customer Balances and activities can be viewed in real-time and can be exported to any of the external or downstream applications.
AUTOMATIC ADJUSTMENTS OF BALANCES
Back valued transactions are processed and adjustments are applied and interest calculations are recalculated automatically from the back value date till the current business date.