Introduction to TBC for Accounts

The features that Deposits Temenos Banking Capability (TBC) provides for accounts, are summarised below:

• Account creation - Allows opening of any type of customer account, such as current and savings.
• Change Product – Supports changing the product of an account, for example, an upgrade from regular savings to premium savings account.
• Account maintenance – In the life cycle of an account, the customer or the bank can initiate changes in the account related information. These changes are handled with the use of the APIs provided.
• Transactions in Account – Financial transactions for an account can be initiated from any front-end system and are captured through the APIs provided. Furthermore, the Deposits TBC pushes an event, which can be captured by the (external) GL and other systems for accounting and reporting.
• Balances and Availability of funds - TBC supports only trade dated accounting and therefore, the account balances are updated based on the booking date of the financial transactions only.
• Initial Funding Control and Account Cancellation – The accounts can be monitored for the agreed initial funding, which is to be received by the agreed date, as defined at the account product. In case the minimum funding requirement in not met, the account can be either closed, or a penalty fee can be levied on the customer.
• Inactivity and Dormancy – Supports handling of account inactivity or dormancy, which refers to the absence of any customer-initiated transaction or activity on an account, for a certain period. The period can vary according to local regulations or a bank’s own internal policy.
• Account Overdraft and Limit Balances – Supports overdraft facility in accounts using secondary limits functionality only.
• Assessment of Interest and Charges – Supports different rates of interest in accounts such as fixed, floating and periodic rate of interest, with different interest basis on different balance types. It is also possible to levy charges on these accounts at regular frequencies or on triggering an activity or when a rule is broken.
• Tax – Tax can be collected on interest and charges in accounts, based on the customer details.
• Posting of Interest and Charges – Interest and charges that are billed on accounts can be capitalised to the same account or settled through another account that is maintained in Deposits TBC. Based on customer needs, it can also be forwarded, as a settlement instruction, to an external (to Deposits TBC) beneficiary.
• Notice for Withdrawal of funds – For notice accounts, the customer can place a notice to withdraw funds from an account or close the account. In such accounts, when the customer withdraws funds without notice, the bank can either restrict the withdrawal or levy a penalty fee to the customer.
• Statements – Statement conditions can be configured for the account and handed off to the delivery system for a print carrier.XML, CAMT, Swift and other options are currently not dealt in the Deposits TBC.
• Posting restrictions – The banks can set posting restrictions in accounts, to restrict debits, credits or both.
• Transaction rules – Using this feature, the bank’s users can configure restrictions on transactions or activities, such as withdrawals or deposits to accounts.
• Account Closure – Supports the closure of the account, upon customer’s request or bank’s needs and settlement of account balances.
• High Volume Transaction – High volume transactions that result in a high number of postings across the account can be handled using this feature.
• Interest Adjustments – It is possible to process any back-valued adjustments through reverse and replay or adjustment mode in accounts.
• Alerts – Alerts can be configured in the Deposits TBC, which are published as events to be consumed by an external system for presenting the alerts to the bank’s users and / or customers, as required.
• Accounting – Deposits TBC uses soft accounting to update the balances for the transactions of the account, within the Deposits TBC. The actual accounting entries are handed off, using account events, which are raised as part of every transaction and can be consumed by any accounting system which maintains the General Ledger (GL).
• Migration of Account Details – Accounts can be migrated from the legacy system.

Features such as Eligibility, Facility, Delivery, Correspondence, and Activity messaging are not supported in TBC. These are handled by external systems.

• Eligibility - The eligibility for account opening process can be handled in an external component, either a Temenos’ solution, such as Temenos Enterprise Pricing, or a third-party solution, such as the Bank’s onboarding or origination solution.
• Facility - Restriction of the actual financial transactions can be enabled using Activity Restriction. Controlling the facilities like cheques, direct debit, sweeping, cash pool opting in or out at the time of account opening is more a UI experience. Hence the Facility Property Class does not apply to TBC.