Introduction to Online Banking -C1

The purpose of this user guide is to explain the current functionality available as part of Member Direct Online Banking Interface.

The Member Direct online access system is a web-based application that clients can use to perform basic banking functions. Note that the application does not perform any of these functions itself. Rather, it sends requests to the host banking systems to perform a function such as transferring funds or paying a bill. When the function is completed, the result is returned to the system, which then displays a message stating that the corresponding function is completed.

Members can do their online (internet) banking via Member Direct. Members login to Member Direct using their 16-digit Member card number (PAN) and password (PAC). The members should be a CIF customer. One card may have more than one account linked in it. Members should be able to view their own details and also the list of investment products they have invested in.

The users should be able to view their account summary and also the statement details. New accounts can be created by the members using the online (internet) banking via Member Direct and also the existing accounts can be renamed. Users are able to transfer funds between their own accounts and to others accounts. This funds transfer can be scheduled to future date also. For future dated transactions which are pending, there has to be a provision to delete the future dated transaction when it is in the pending status. At any time, the list of scheduled funds transfer can be viewed.

The other main provision required is that the users should be able to make the bill, provided the vendors to which they want to pay the bill are added to the account from the vendor list provided by the bank. This payment also can be scheduled for future date and if transactions are not yet done, there will be provision to delete the transactions.

The interface development would consist for two parts:

• Interface ISO messages (request and response) to Temenos Transact.
• Development is done in Temenos Transact for the member direct interface, for its various functions or events.

MDI Narrative:

• Extra narration is required to be displayed for MDI to provide transparency of exchange rates. It’s a requirement by Payment Card Industry Data Security Standard (PCI DSS) and applies wherever account data is stored, processed or transmitted.
• PCI DSS requirement states that, “Mask PAN when displayed; the first six and last four digits are the maximum number of digits you may display”.

Members can perform the following functions through Member Direct which updates the banking system in real time.

List of functionality supported:

• Login in using the PAN and PAC.
• View account summary; which is list of all their accounts and respective balances under each membership.
• View account details:
  • Demand accounts: Current balance and current rate.
  • Term deposits: Principle investment, current balance, term start date, term maturity, Interest rate, and where the interest will be applied at interest period and what will happen to funds at maturity.
  • Loans: Loan type, balance, interest rate, maturity date, schedule, accrued interest, interest charged etc.
  • Tax sheltered: (RRSPs and RRIFs). : Contract number, contract type, balance, contract open date etc.
• Generate online statements.
• Transfer money between accounts immediately or setup onetime or recurring automatic transfers.
• Add or delete vendor for bill payment processing.
• Make bill payments to external payees (utilities companies, credit cards, property taxes, telecommunications and retail stores.) See bill payments interface for further details.
• Ability to perform current, future and recurring bill payments.
• Rename demand accounts, term deposits and loans to suit the purpose the member is using the funds for.
• Open new demand accounts (including transfer of funds to the account).
• Open new term deposits (including transfer of funds to the term deposits).
• Open RRSP products within an existing contract (including funding the RRSP).
• Create and cancel stop payments.
• Create and cancel automatic transfers (standing orders).
• Change personal access code (PAC).
• Temenos Transact to provide the inter-member funds transfer capability: Central1 will provide the banking relationship number and product type, category and fund within the request and Temenos Transact will process the inter-member transaction to the 1st product type, category and fund match on the “transfer to” banking relationship.
• Temenos Transact to support the inter-currency transfers for intra and inter member transfers.
• Temenos Transact to provide the capability to direct e-transfer debits and credits to different internal accounts.
• Requirements for statement masking.
• Central1 populates specific (pre-defined) values in BIT 103 (account identification 2) to identify transactions as CAD or USD wire transfer as opposed to a regular inter member transfer. The pre-defined values used in BIT103 will represent Temenos Transact internal accounts. Temenos Transact must be able to identify the pre-defined values in BIT 103 and appropriately map the transaction to specific funds transfer transaction codes.
• The general Central1 login process is: Standard authentication request with the disclaimer has been read flag in BM48 set to N is sent to banking system. For a business login, the banking system replies with membership = 9999 and BM44 = “7004” or “7005” (BM44 is set this way because banking system checks “MDSB Disclaimer has been read Flag” and determines that this member has not read the MDSB disclaimer). As there will only be one disclaimer acceptance field for business members in Temenos Transact, BM44 should only contain “7005”.
• Ability to perform single or mass activation of dormancy accounts.

Below are the list of other functionality supported: