Colvir Banking Solution Summary

Functionality

Colvir Banking System includes the following sets of modules: Core Banking, Bank Treasury, Administrative Activity, Retail Business and Remote Access.

All Bank's Operations in a Single System

Colvir's functional modules allow for provision of completely integrated solution. The main advantage of integration is that all bank's transactions referred to either Core Banking or Administrative Activity are operating with one kernel, one General Ledger, one budget, one Risk Management module, one Cash Management module. This allows: to evade expenses referred to interfacing of system components, to reduce expenses referred to staff salary and training, to make easier system modification.

Modern Banking TechnologiesModern Banking Technologies supporting bank's business development are implemented in Colvir Banking System:

• Budgeting and Income / Expense Accounting referred to banking products
• Banking products cost calculation
• Client-oriented system – there is all necessary data for CRM inside
• Risk Management System, Asset & Liabilities Management with risk consideration – compliance with Basel II requirements (2006).

System Evaluation by Deloitte & Touche

In 2004 the auditor company Deloitte & Touche a member of “Big Five” provided Colvir Banking System audit and issued a positive conclusion where it was stated: “functional and technological facilities of Colvir Banking System meet as a whole the modern requirements of large and medium-sized banks of Russia and CIS referred to automated banking systems”.

Core Banking

Core Banking is the central part of Colvir Banking System. It consists of System Kernel, Software Tools, basic functional modules: General Ledger, Client Accounting, Funds Transfer & Teller's Services, Payment System,International Payments, Message Delivery, Loans, Deposits, Trade Finance, and supplementary functional modules such as Standing Orders, Currency Exchange Regulation, Tax Accounting and Statutory Reporting.

System Kernel and Software Tools

System Kernel and Software Tools incorporate common functions and mechanisms utilized by all functional modules of the System. The Kernel includes general-system services and application services.

The System cannot operate without general-system services. Data Dictionary is the main general-system service being a centralized archive to store the descriptions of main System elements: System Messages, Domains, Entities, Inquiries, Business Objects, Screen Forms and Reports.

The other general-system services not referred to Data Dictionary are: Database Connection Service, WEB – server Data Access Service, Multi-Language Service, System Parameters Service, Security Service, Audit Service, Import & Export Service, Encoding Rules Service, Screen Form Designer, Business Processes Supervision Service etc.

The application services are common for all the functional modules. Some of them are intended for programmers use only; the others represent the Software Tools designed specially for non-programmers. Exactly these Colvir components make the System so flexible that it is possible to announce adaptability without programming as a System's mission.

The Kernel application services include: Data Domain Concepts Dictionary, Analytical Models Designer, Accounting Models Designer, Transaction Designer, Analytical Views Designer, Consolidation Service, Financial Figures Service, Payments Service, Limits Service, Interest Rates Designer, Product Templates Designer, Fee Calculation Service.

As a whole System Kernel allows development and modification of the System application functionality by bank's own staff, with limited involving of Colvir's experts. This approach provides for successful System adaptation to the particular bank's needs and allows the bank to respond to regulation and legislation amendments on-the-fly. And what is very important most of Colvir Software Tools are directed towards bank experts in data domains – the users without any programming skills.

General Ledger

Colvir General Ledger (GL) module is a tool providing links between GL account entries and all of the correspondent contracts, transactions, documents and subsidiary ledger entries. Posting of entries to the General Ledger is done automatically on the basis of pre-adjusted accounting models. Adjustment of accounting models is available to trained accountant, and can be done by bank's staff.

Postings can be done in real time mode or at the end of the accounting period. Back-value and future-value postings are supported as well as operation in different time zones.

General Ledger supports a number of Charts of Accounts. Each Chart of Accounts can be of different structure with any number of hierarchy levels. Historical information is maintained for all accounts. Account code length may be up to 30 characters. GL accounts may be detailed by any analytical views. Different accounts can be detailed by different analytical views. Number of analytical views for each account is unlimited.

Colvir General Ledger is multi-branch and multi-currency. Each GL account may have balances in different currencies. Accounts for precious metals are handled in ounces.

There is a facility of «DRILL DOWN» review of detail transactions, deals / contracts and basic documents including branch documents.

Review starts with GL account list. For each account it is possible to review account statements, balances and turnovers, as well as transaction journal. On «DRILL DOWN» the information can be itemized by departments, by accounts of lowest level, by analytical views. It is possible to review correspondent operations, financial entries, deals / contracts and documents from lowest transaction level. Contracts and documents can be reviewed not only in electronic form but also in form of scanned images.

Colvir General Ledger has built-in facilities for data comparative analysis using graphs and diagrams.

Client Accounting

This module is responsible for handling of Client Information File and client accounts including LORO and NOSTRO accounts. Intra-bank accounts are handled in Colvir General Ledger module.

For each client there is lot of data stored in the System including economics sphere, resident / non-resident status, country of registration, seal and signature specimens, client affiliate information etc. Bank's staff itself can add any kind of supplementary client information if necessary. It is possible to handle potential clients information as well.

Corporate clients having subsidiaries constitute special groups. All information concerned with subsidiaries is available for head organization of such group. The number of client hierarchy levels is not limited in the System.

All client's accounts and contracts with the bank are linked with the client record in the Client Information File. Capability of linking of any kind of electronic document to the Client Information File is available.

Historical records are maintained for clients and accounts. It is possible to review the client / account history in chronological order with an indication of the date and type of modification.

Handling of accounts both in local and foreign currencies, and in ounces of precious metals is available.

Both centralized and decentralized modes of handling clients and accounts are available for banks with branches. Colvir enables each client servicing in any bank's branch.

Funds Transfer & Teller's Services

This module provides for operations referred to funds transfer and teller's services for bank clients both in local and foreign currencies. The following operations are supported: funds transfer by client's order, including international transfers; funds conversion by client's order; cash payments / withdrawals to / from a client account; purchase / sale of travel checks; sale of checkbooks; funds transfer for the bank's own transactions.

The module manages clients banking services agreements. Interest rates and charged commission fees are linked to these agreements. Interest calculation on client accounts, withdrawal of fees according to transaction types and other actions referred to agreement terms are performed automatically.

The module ensures convenient preparation of documents and high degree of protection against unauthorized actions. When issuing payment documents, access to Client Information File is available. It is possible to review and visually control seals and signature specimens of authorized persons.

Various options of payment documents input, control and authorization are realized in the module: serial input of attributes by different users, input control by reentry method, imposition of any number of authorizations. It is possible to import and input payment orders with future value date.

On withdrawing funds from client accounts the relevant account balances are checked automatically. Balance control is performed according to specified limits.

The module handles of unpaid documents register. The priority of withdrawing funds from client accounts with regard to this register is supervised automatically. Payment history for each document is maintained, and each client's total debts can be reviewed in details.

The module provides for generation of typical certificates for the clients and tax authorities.

Payment System

This module provides for automation of payments processing inside the bank with branches as well as interface of bank payment system with external payment systems servicing local currency payments. Besides the module is able to process incoming international payments in local currency, and also incoming international payments in foreign currency directed to bank's branches.

The following external payment systems are supported: the Central bank payment system, clearing houses, correspondent banks, with mutual correspondent relations. The module provides for a flexible adjustment of interface rules with different external payment systems. Automatic reconciliation of correspondent accounts using statements and confirmations is provided for each payment system. The sheets of correspondent accounts discrepancies are generated.

The module provides for automatic receipt of incoming electronic documents from external payment systems. There are facilities for review and confirmation of received incoming payments. Adjustment of conditions for automatic approval of incoming payments is available. For example, automatic approval of payments with amount less than specified is possible.

Besides processing of incoming payments, the module provides for review and approval of outgoing payments originated by Head office and branches. For simplification of dispatch procedure referred to outgoing payments the module enables adjustment of automatic approval conditions.

Facilities are available for outgoing payments dispatch management through various payment systems. Such management is provided manually or automatically under specified schedule.

International Payments

This module is responsible for provision of international payments referred to the bank and its correspondent banks, as well as for handling of agreements with correspondent banks.

Processing of incoming, outgoing and transit international payment messages of all prescribed formats is provided. SWIFT and TELEX channels are supported. Automatic generation of LORO accounts statements, and automatic reconciliation of NOSTRO accounts is available. Handling of both «serial» and «cover» payment methods is possible. The module provides for automatic processing of confirmations, statements, requests on compensation of expenditure, and handling of correspondence with other banks.

Disassembling of incoming SWIFT messages is done automatically. Disassembled attributes and source SWIFT message are displayed simultaneously for supervision and authorization purpose. Manual modification of improperly disassembled attributes is available.

Requests for commission payments from other banks are generated automatically. These requests are recorded and remain under control until paid; a report on non-received commissions is available. For similar incoming requests received from other banks, the payment procedure is automated. Commission charge for outgoing payments is provided automatically in accordance with correspondent agreements and approved fees. Control of fees deducted by correspondent banks is available.

Automatic reconciliation of correspondent accounts is performed while processing of the received statement. Search for a payment document and for all related messages can be provided directly by statement line. A statement line itself can be used as a payment document.

The following facilities are also available in the module: repeat of requests in case the reply is delayed within preset period, sending of the request / reply copies to bank's branches, interest accrual on correspondent accounts balances, keeping of once used outgoing payments routes, transliteration supporting RUR4, RUR5 and RUR6 codes.

Loans

This module manages loan agreements including credit lines on investment credits, loans to the state and commercial organizations, and physical persons.

The following facilities are available: review of Client Information File, handling of loan agreement file, collateral accounting, review of agreements and transaction journal, automatic generation of agreement text and repayment schedule.

The module provides powerful facilities for generation of any kind of repayment schedules. There are various types of initial repayment schedules: by equal parts (annuity); uniformly, principal and interest in equal periods; the same with different periods; non-uniformly; subject to grace periods. It is possible to modify the repayment schedule before the loan agreement comes into effect. Interest recalculation during correction is performed automatically. Modification of repayment schedule for contract in force is possible only for non-executed items.

At principal and interest maturity dates the amounts payable are displayed on the screen. Linking of incoming payments with amounts payable is provided by special task – payments monitoring. Linking is done automatically (if possible) or by user.

The following facilities are also available in the module: advanced repayment including partial discharge; operations with past-due loans: qualifying as past-due loan, calculation and imposition of penalty provisions, prohibition of interest accrual, loan write-off. It is possible to transfer loans from one category to another in compliance with bank's loan portfolio classification with automatic provisions calculation.

There is a credit calculator in the module that allows modeling of different situations both for new and existing loans.

Bank Treasury

Bank Treasury provides automation of bank's transactions in international and domestic markets including brokerage and custodian functions, trust banking, and also cash management and risk management automation.

Bank Treasury is integrated with other parts of Colvir Banking System: it utilizes the common System Kernel and common Software Tools; and outputs standard information to the General Ledger.

Bank Treasury consists of four functional module groups: Foreign Exchange, Money Market, Securities and Derivatives, and also Cash Management and Risk Management modules. Electronic Archive of Financial Information is designed and handled in Bank Treasury containing quotations, rates and other information from different sources and available within the whole system.

Foreign Exchange

These modules support FOREX deals with foreign currency, local currency and precious metals both in international and domestic markets including: SPOT (also TODAY and TOMORROW), FORWARD, SWAP and OPTIONS.

Modules allow for manual entry or import of tickets from the REUTERS system, supervision of limits and important deal attributes. All necessary data for calculation and generation of confirmations are selected from counteragent directory. All necessary SWIFT messages are generated, dispatched, received and processed automatically. Received messages are automatically linked with correspondent deals.

Deal status information is maintained and displayed by modules (deal approved, orders/notices sent, settlements completed). Deals settlement using netting mechanism is available. Handling of arbitrage deals is supported.

Deal positions are maintained including arbitrage deals. At this deals can be selected and sorted by deal date, value date, counteragent, currency, portfolio.

Deals are supervised by a flexible set of limits. The following basic limit types are available: dealer limit, counteragent limit, country limit, opened currency position limit.

Deals can be linked to user-defined portfolio. One deal can be split up by different portfolios.

Money Market

These modules support deals on giving and taking deposits in foreign currency, local currency and precious metals both in international and domestic markets.

Modules allow for manual entry or import of tickets from the REUTERS system, supervision of limits and important deal attributes. All necessary data for calculation and generation of confirmations are selected from counteragent directory. All necessary SWIFT messages are generated, dispatched, received and processed automatically. Received messages are automatically linked with correspondent deals.

Deposit interest rates are fixed. Interest calculation can be provided: with capitalization / without capitalization, on accrual basis 30/360, 30/365, actual/360, actual/365, actual/actual. It is possible to use different accrual basis by counteragents and currencies.

Principal repayment transactions as well as interest repayment / receipt transactions in accordance with deal parameters are available. Deals can be prolonged by part of principal amount, total principal amount, with interest capitalization, with generation of payment messages for settlement purposes. The following supplementary transactions are also available: advance principal repayment with automatic interest recalculation, refusal to give / take deposit with generation of correspondent confirmation for counteragent.

Deals are supervised by a flexible set of limits. The following basic limit types are available: dealer limit, counteragent limit, country limit.

Deals can be linked to user-defined portfolio.

Securities

The group consists of following modules: Bonds & Shares in International Market, Bonds & Shares in Domestic Market, Bills of Exchange and Securities Registers.

Wide range of securities is supported: government securities, corporate shares and bonds, securities estimated in foreign currency and precious metals, asset-backed securities.

Modules enable of automation of following basic functions: handling of data directories; logging of securities issues; handling of deals referred to securities; positions maintenance referred to completed deals; cost parameters calculation referred to securities; control of bonds principal and interest repayment; servicing of bank own securities.

Logging of Securities Issues task allows for input of information referred to particular security issues. At this repayment schedules are calculated automatically or input manually.

Securities Deals Handling task facilitates automation of following deal types: Purchase / Sale; Transfer / Receipt without Payments; REPO / Reverse REPO; Securities Pledging; Securities Loans.

On deals input securities can by classified in accordance with IAS 39 categorization (held-to-maturity investments, held-for-trading, available-for-sale), as well as linked with user-defined portfolio (bank's or client's).

Deal status information is maintained and can be reviewed (deal approved, orders/notices sent, settlements completed). Generation, dispatch, receipt and processing of all basic SWIFT messages referred to securities are done automatically.

Cost parameters calculation includes: amortization of discount, coupon accrual, REPO income calculation, securities' yield calculation including yield from coupon and discount. Cost parameters calculation can be provided on daily basis or on other user-defined periods. There are different algorithms for yield calculation, revaluation and costs amortization. Choice of necessary algorithm is under user control. E.g. security revaluation on fair value basis, and costs amortization by effective interest rate method are available.

Control of securities principal and interest repayment is provided using payment monitoring mechanism from System Kernel. Principals, coupons and dividends amounts payable are displayed automatically in accordance with repayment schedules.

There is a facility of securities reclassification – i.e. securities transfer from one category to another. It is also possible to operate with doubtful and bad securities: provisions generation, write-off, repayment.

Client securities accounting is available: clients investment income calculation; evaluation of clients security portfolio; funds withdrawal from client account under preliminary advise; bank's fee calculation; account statement generation.

Placement and repayment of bank own securities as well as settlements and transactions referred to these securities are provided by “Securities Registers” module.

Derivatives

The group consists of following modules: Futures & Options, Forward Rate Agreements, Interest Rate Swaps and Commodity Swaps.

Futures & Options module provides the following functions: bargaining; positions handling; available balance calculation; amounts payable and receivable calculation; notification on contracts expiration; report generation.

Quotations stored in Electronic Archive of Financial Information can be receipt from stock exchanges or from data providers both in tick and interval forms. Current portfolio evaluation can be based on the quotations from Electronic Archive of Financial Information or on broker's statements or on manually input quotations.

The module facilitates analysis of trading session results. It is possible to evaluate effectiveness of completed transactions, to create diagrams and tables. Balance diagram is generated on the basis of broker's statement referred to actual cost of assets (net liquidation, net assets). Transactions Profit & Loss diagram is generated for specified time period on the basis of full list of completed deals. Activity by periods is generated in form of transactions yield table by months, weeks or days as specified by user.

The module has facilities for monitoring of “Margin Call” situations using its own evaluation of margin requirements.

Interest Rate Swaps module is capable to support both interest rate swaps and interest rate currency swaps. Commodity Swaps module maintains three types of assets: currency, precious metals and securities.

Cash Management

This module is designed to forecast available cash volume at bank's disposal, and also for calculation of cash shortage / surplus time periods for timely fulfillment of bank commitments, borrowing and reporting.

The forecast of future cash payments and receipts as well as information on actual payments and receipts is taken from all Colvir modules related with payments. Transmit of this information takes place on payment schedules approval and modification, on input of accounts payable and receivable into the System, accrual of payroll etc.

It is possible to input revenue forecast and recurring expenses into the System under specified classification. Manual input, import from external sources (e.g. spreadsheets), and forecast under user-defined rules are available. Cumulative statistical data can be taken into consideration. Different rules can be applied to different classification elements.

Consolidation of all forecast information allows for calculation of summary cash flow for specified period. Summary cash flow is displayed on the screen as opening balance, list of revenues by specified classification, list of expenses by specified classification, closing balance. Cash flow gaps are displayed for each period.

The following operations are available with summary cash flow: review of detail payments by classification (e.g. by bank activity segments or bank products); transmit of individual payments to the next period, at this summary cash flow shall be recalculated automatically; analysis of possible variants of taking and giving funds; keeping cash flow versions with possibility of choice of the final version.

The module operates with payments in different currencies and generates all necessary reports.

Risk Management

The module provides for accounting of complex risks originated by different segments of bank activity.

Credit risk management is provided by implementation of different types of limits. It is possible to set up conditions limiting amount of credits by bank activity segments, by clients, by categories, by economic spheres, by terms etc. In accordance with BASEL II requirements the module contains mechanisms for creating of bank's own client credibility evaluation methods. It is possible to set up the limits referred to transaction groups in order to discover related risks and reduce of security amount. It is possible to calculate exposure distribution for credit portfolio.

The module allows for calculation of provisions taking risks into account and for comparison it with actual provisions created on the basis of normative documents.

Market risk evaluation is based on exposure calculation method. For related risks evaluation covariant approach is used in accordance with BASEL II requirements. The module calculates exposures referred to portfolio, VAR of portfolio at specified reliability level, and also standard exposure deviation. In the network of market risk value risk and interest rate risks are regarded. For supervision of these risks special reports are generated by module.

Evaluation of operational risk is designed in the module in form of statistics accumulation referred to individual internal processes and calculation of main risk estimations on this basis.

Complex risks accounting is based on the principle of bottom-up association of detailed risks. Yield comparison of individual departments can be provided both by classical indicators ROE or ROA, and with the help of RAROC approach taking into account the amounts of capital necessary for provision of each activity segment.

Bank Retail Business

Bank Retail Business provides automation of bank's transactions referred to natural persons both for mass market and VIP – clients.

Bank Retail Business is integrated with other parts of Colvir Banking System: it utilizes the common System Kernel and common Software Tools; and outputs standard information to the General Ledger, to Cash Management and Risk Management modules.

Bank Retail Business functional modules are: Transfers, Cash Office, Retail Deposits, Retail Loans, Bill Payments, Standing Orders, Safe Services, Plastic Cards' Back Office, and Exchange Office. Client – Bank module – one of Colvir Remote Access modules is fully integrated with Bank Retail Business modules.

Characteristic feature of Bank Retail Business modules is flexible design of new retail products possibly by Bank's own staff.

Transfers

This module is designed to support different types of money orders provided by natural persons. Both international, domestic and bank internal (between branches via head office) money transfers are available in favor of natural and juridical persons.

International transfers can be sent in any currency. Funds conversion application is generated automatically if necessary.

Money orders can be done with or without account opening. For money orders without account opening deposits are provided in cash or by plastic cards. Incoming payments can be posted to client accounts or paid off to recipient in cash. Transfers to be paid off in cash contain all necessary information for recipient identification in branch where cash will be paid off. Such transfers can be paid off in any branch on recipient's choice.

The module ensures convenient preparation of documents and high degree of protection against unauthorized actions. During transaction performing, access to Client Information File and trustees is available. It is possible to review and visually control client and trustee signature specimens stored in the System. On funds withdrawal from client accounts available balances are checked automatically.

Fee calculation is performed automatically in accordance with Bank tariff schedule.

Cash Office

This module is designed to provide transactions referred to teller's services for clients and money vault operations.

The module can operate with a) cash in local and foreign currencies – bank notes and coins separately, including memorable and jubilee coins, as well as precious metals coins, b) gold ingots, c) valuables including: travel and commercial cheques, plastic cards, PIN-envelopes, plastic cards held by ATMs, other valuables.

Client services are: cash receipt from clients for crediting of current account or deposit, sending of transfer, crediting of plastic card, repayment of loan, purchase of valuables; receipt of non-payable bank notes for collection; giving of cash to clients; transactions referred to plastic cards: receipt of applications, issue of plastic cards, issue of PIN-envelopes.

Money vault operations are: cash and valuables issue from vault (to tellers, to exchange offices, to other branches, to other banks); receipt of cash and valuables into vault; receipt of cash and valuables for collection. It is possible to provide cash transactions in view of bank notes value, and in view of bank notes and coins condition. The module provides issue of applications for cash or valuables replenishment.

The module ensures convenient preparation of documents and protection against unauthorized actions. During transaction performance, access to Client Information File is available. It is possible to review and visually control signature specimens stored in the System.

The module generates receipt and expenditure cash orders during transaction performance. Fee calculation is performed automatically in accordance with Bank tariff schedule.

Retail Deposits

This module is designed to create and maintain the unlimited range of deposit products for natural persons. To provide new products the Product Templates Designer is utilized which is included in Colvir System Kernel. The Bank is capable to make new products independently.

The following facilities are available: input and review of deposit agreements and transaction journal, automatic generation of agreement text; gift of deposit; operating with testaments and letters of attorney; deposit arrest / release; receipt of deposit with currency equivalent fixation; automatic fee collection for deposit service in accordance with Bank tariff schedule.

Interest calculation can be made by groups of deposits or by individual deposits; with sums transferring to depositors current accounts or without transferring; on basis of actual, average or minimal balance; using day opening or closing balance. The interest rates can be flat, with base or graded depending on deposit terms and conditions.

The following capabilities are available: interest rates indexation, setting of specific rates for individual customer categories, automatic interest converting in view of pre-term claim of deposits, partial payout, subsidiary depositions.

Subsidiary depositions can be admitted in two ways: a) subsidiary deposition is united with principal amount, and total balance is rolled-over up to the term of the subsidiary deposition; b) every subsidiary deposition has its own expiration date and interest rate.

The module also ensures opening of a deposit with zero balance with the given period of expectation after which a deposit is automatically closed; pre-term (partial) withdrawal of a deposit; roll-over of a deposit for partial or full amount, capitalization of deposits with specified period of capitalization; capability of blocking of dormant deposits.

Retail Loans

This module manages loan agreements granted to natural persons including credit lines. The entire loan life cycle is supported from credit committee application input up to completion of the loan.

This module is designed to create and maintain the unlimited range of deposit products for natural persons. To provide new products the Product Templates Designer is utilized which is included in Colvir System Kernel. The Bank is capable to make new products independently.

The following facilities are available: review of Client Information File, handling of loan agreement file, collateral accounting, review of agreements and transaction journal, automatic generation of agreement text and repayment schedule.

The module provides powerful facilities for generation of any kind of repayment schedules. There are various types of initial repayment schedules: by equal parts (annuity); uniformly, principal and interest in equal periods; the same with different periods; non-uniformly; subject to grace periods. It is possible to modify the repayment schedule before the loan agreement comes into effect. Interest recalculation during correction is performed automatically. Modification of repayment schedule for contract in force is possible only for non-executed items.

At principal and interest maturity dates the amounts payable are displayed on the screen. Linking of incoming payments with amounts payable is provided by special task – payments monitoring. Linking is done automatically (if possible) or by user.

The following facilities are also available in the module: advanced repayment including partial discharge; operations with past-due loans: qualifying as past-due loan, calculation and imposition of penalty provisions, prohibition of interest accrual, loan write-off. It is possible to transfer loans from one category to another in compliance with bank's loan portfolio classification with automatic provisions calculation.

There is a credit calculator in the module that allows modeling of different situations both for new and existing loans.

Bill Payments

The module enables collection of following payments from natural persons: payments to budget, pension dues, payments for services rendered to population by Public Utilities, communication operators and other service providers. Client payments are provided by means of accounts debit. Non-client payments from any natural person are provided by cash or by plastic cards.

The module handles templates of typical payments which enable to speed up client service. Prompt and convenient input of payments is supplied.

The bills from service providers can be input into the System. These bills can be used later on while collection of utility payments. For new service providers and new payment types bill formats can be adjusted individually.

The module performs consolidation of collected utility payments in view of service providers and money remittance to providers with generation of payment orders.

It is possible to transfer to service providers of registers of payments collected for their benefit. For new service providers register formats can be adjusted individually.

Standing Orders

Standing orders provide:

• Settlement of bills issued by service providers debiting client account;
• Converting specified part of amount entered to client account;
• Transfer on fixed dates of specified amount (or amount equivalent in foreign currency), or amount received from a particular sender in accordance with set bank details;
• Transfer of client's account balance or specified amount to client's card account;
• Repayment of loan.

There is possible adjustment of automatic standing orders execution in accordance with specified schedule or on money entered to client account. The amount of transfer can be specified directly or in percentage ratio of the received amount or balance. In case of insufficient funds on client account the standing order is put on a waiting list until money are received without reflecting in accounting books but with possible reporting on payments being on a waiting list

In case of standing order execution the payment document is generated automatically with reference to number and date of standing order related to the transfer provided. Necessary fees are generated automatically in accordance with Bank tariff schedule: for transfer, for currency conversion, for standing order execution, and others.

Templates for filling in of standing orders are provided. On the date indicated by client or on money entered into client's account the payment order template appears on the screen for review and approval.

Exchange Office

The module consists of three parts, one of which is established in the head office of a bank, another one – in the branch, and the third one – directly in the exchange office.

In bank's head office allowable currency types are nominated to exchange offices, one or another transactions are allowed: purchase / sale of travel cheques, sale of other valuables, transactions with non-payable currency. Different currency types and different transactions can be nominated to different exchange offices.

Besides, bank's head office defines the bank's foreign currency maximum buying rate and minimum selling rate. If necessary bank's head office can nominate individual rate limits for particular branches taking into consideration state-of-market in the region.

It is possible to change currency rates during one business day. The module handles the history of currency rates changing for each currency. Wholesale rates (with gradation related to amount exchanged) are maintained.

In bank's branches the module performs: buy / sell currency rates nomination for related exchange offices according to head office restrictions, advances provision to exchange offices as well as receipt of money / valuables from exchange offices to branch vault. Several advances can be made to one exchange office during one business day.

Directly in the exchange office the module performs the following transactions: purchase of currency / valuables, selling of currency / valuables, exchange of bank notes, purchase of non-payable currency, changing of non-payable currency, receipt of non-payable currency for collection, selling of currency with utilization of plastic cards. All these operations are accompanied by control cheque and certificate printing.

On transactions execution specified rates are utilized, correction of currency rates is prohibited. The module controls currency balances in cash desk, enables fee collection and deduction of taxes.

In the exchange offices advances / valuables received from branches are registered automatically, and the register of exchange transactions is generated, as well as balance information for money and valuables to be transmitted to the bank.

Te module provides generation of all necessary reports.

Client – Bank

Client – Bank module is one of Colvir Remote Access modules. It is fully integrated with Bank Retail Business modules providing natural persons remote access to retail services rendered by bank.

The module enables remote performance of all required types of payments: to budget, to pension funds, to service providers (Public Utilities, cellular operators, internet-providers, paging companies, insurance organizations etc) as well as card account replenishment and loan repayment.

For any payment type the module enables storing of payment templates in order to simplify the input of new payments.

The module provides execution of all kinds of money remittance including input of international payment applications, input of currency conversion applications (as well as between two currencies according to cross-rate). There is possibility of money remittance between client's own accounts.

Besides, the module has the following facilities: input of applications for issuing of plastic cards, remote opening of deposits, sending of letters and inquiries to bank employees. 

The module enables access to the following information:

• Statements of client's own accounts for any time periods 
• Currencies exchange rates with possible review of rates change history
• Status of documents send (payments, applications)
• Electronic copies of incoming payment documents
• Letters and reference information received from the bank
• Service tariffs
• Deposits and loans interest rates.

Client – Bank module is designed using Internet – technologies. At client site standard browser is utilized.