Introduction to Front End Processes

Temenos Transact is a customer–centric system. The Single Customer View (SCV) is a front-end screen that has been designed:

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

The SCV is modified to include elements required by the customer-facing staff in the Canadian banks and financial institutions.

Credit unions follow the two 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 the membership or container layer.

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

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

Using the Single Customer View, the bank users can make transfers of funds, withdrawals of funds, and other possible financial and non-financial transactions 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 the account.
• Creation of deposit and loan arrangement for a customer, accessing and amending the existing loan or deposit of the customer.
• Financial transaction on loan and deposit.
• Creation of registered plan product for a customer, accessing and amending the existing plans of the customer, financial transaction.
• Access to safety deposit box for a customer.

Customer - Container Switch

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

A new field is added to the 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 the financial institution and if set to No or Null credit union-related banking process will be followed by the financial institution.

Linkage of Flag and Canadian Model Bank Functionality

In the credit union process, it is mandatory to create two layers for customers (namely CIF and container) before creating any financial product like accounts, etc. An exception is the registered plan products.

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

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

In the 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 the customer is not relevant.

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

Help text Menu, Versions and Enquiries

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