This module will not be further enhanced. Support is limited to defect fixing only.

Introduction to Balance Confirmation

Banks can be asked to confirm the balance at a desired date that can be today but also in the past. The Balance Confirmation module allows banks to create balance notifications and balance confirmations. This can include confirmations for a specific customer or groups of customers. It contains the balance values of all accounts and contracts owned by the customer as on a freely selectable date.

A balance notification is often part of the audit process. The auditor selects customers by specific criteria or on a random basis who will receive the current status (balance) of their accounts and deals. If the customer does not object in a certain period, the balances are considered confirmed. A balance confirmation is similar to a balance notification, the only difference is that the customer has to confirm by signing a prepared confirmation.