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

Introduction to Accounts

This module provides pre-configured corporate accounts and loans, including effective dates on loans, and tax setup on loans and accounts.

TNA, TCEA and TREA Rates

According to Peru current regulatory requirements, it is necessary to shown Annual Effective Rate (TEA) and Annual Effective Cost Rate (TCEA) rates for loan products and TEA and Annual Effective Yield Rate (TREA) rates for passive products.

The TEA is the annual effective rate and it calculates the cost or the expected interest value within a year of 360 days. It is the main benchmark for evaluating the profitability of a financial product.

The TCEA is the annual effective cost rate, it is the summary of the interests, expenses and commissions that are used to calculate the monthly payment instalment of a loan, this rate is composed of the TEA, monthly charges, insurance, among others depending of the financial institution.

The TREA is the annual effective rate of return that allows banks to calculate the benefit that will be obtained by keeping the savings in a passive account, this rate allows customers to know both the costs and expenses that are generated by keeping the money in the account and the interests that will generate, that is, how much will be earned for the money deposited in the bank.

This functionality allows banks to calculate the Annual Nominal Rate (TNA), TCEA and TREA rates from the TEA rate when the TEA rate is defined as the principal rate of the product. This rates will be calculate with the APR routines set in the AA.APR.TYPE application. The new calculated rates will be displayed in the AA arrangement overview.

CCI Generation

According to the Peru current regulatory requirements, it is necessary to generate the Interbank Account Code (CCI). CCI is the unique code that identifies an account throughout Peru's financial system and serves to perform interbank transfers.

The CCI code is automatically generated by financial institutions with the information where the account belongs and is not editable.

This functionality allows users to generate the CCI number of passive accounts (savings, CTS or current account) created by the bank considering the structure of the CCI number for the identification at the time of an interbank transfer.

The CCI Alternate Id field is used to save the data for accounts that are migrated from the current system to Temenos Transact.