Introduction to Account Numbering
A check digit is a form of redundancy check used for error detection on identification numbers that have been input manually or electronically. There are many ways to calculate the check digit of an account. In the Canadian market, it is a general practice to use MOD10 calculation for the generation of account numbers. MOD 10 is an algorithm used to validate account numbers using the check digit concept.
The functionality available in account numbering is summarized below:
The requirement defines the account numbering logic in Temenos Transact along with the option of maintaining the legacy account numbers.
Setups for Alternate account Id: a parameter application to define the different types of alternate account types
The legacy account numbers or alternate accounts are required to be maintained in Temenos Transact so that CAMB’s existing systems and interfaces can use pre-account numbers to match their existing data.
Alternate account ids are used as reference to select a particular account.
The alternate account type needs to be attached to the ACCOUNT.PARAMETER record.
Creating new accounts: while creating new accounts, a new account number will be generated with the last digit as the check digit using the MOD 10 calculation.
Enquiries and Reports: an enquiry to show the number of accounts each customer holds with the account sequence number.
In this topic