Introduction to Relationships (Membership)
The intended audience for this document are the bank staff, IT administrators for parameters, and business analysts. It is assumed that the reader of this document is familiar with the navigation around Temenos Transactand is familiar with customer records.
The relationship functionality is broadly divided in to following parts:
- Relationship functionalities.
- Share account.
- Customer – container switch.
Relationship Functionalities
Relationship modules includes below functionalities:
- Signatory rules.
- Ownership rules.
- Cascade rules.
- Customer type.
Shares
It is required by Credit Unions that all the personal including juniors and non personal customers must have class A shares (also known as membership shares). These shares must be purchased once the customer has been approved for membership.
Customer-Container Switch
In Canadian market, there are 2 types of financial institutions namely Credit Unions and banks. The approach towards customer process is slightly different for both financial institutions. The differences are highlighted below.
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.
Banks
The banks in Canadian market follows the normal customer process wherein there is no differentiation of CIF and customer.
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