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INFODeposits | |
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Covering all types of deposits,
the overall functionality that is central to the InfoDeposits system is discussed below: |
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| TERM DEPOSITS | |||||
| InfoDeposits provides an exclusive interface to
define all Fixed/ Term Deposits. Using this interface the user can define the main Fixed Deposit Product, based on which the sub products can be easily defined. The deposit sub products can be broadly listed as, Fixed, Floating, Adjustable and Structured deposits. A separate interface is provided for the Customer Application, where the customer selects the Pre-defined deposit in which the customer wants to invest. |
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| FLEXI / RECURRING DEPOSITS | |||||
| Flexi and Recurring Deposits can both be managed
by the system since the difference between the two is very minor. In Recurring Deposits, a fixed installment amount has to be made across a fixed tenor and interest is earned at a fixed rate. Whereas, in case of a Flexi Deposit, the installment amount as well as the tenor can be flexible while the interest is still earned at a fixed rate. The Screens for Recurring and Flexi deposits are a superset of the Fixed Deposit. Here, in a manner similar to fixed deposits the user can define and maintain the main product. The additional parameters required to define a recurring or flexi deposit are the Payment Instructions, Payment Frequency and Conditions in case of delayed and early payments. This deposit type also has an additional interface for the user to define and view the payment schedule. |
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| SWEEP DEPOSITS | |||||
| Sweep Deposit is a conditional deposit requiring
the definition of the sweep instruction including the amount and frequency of the sweep, details of the account from and to which the amount is to be transferred as well as the priority in which the sweep instructions are to be carried out. |
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| REPORTS AND ADVICES | |||||
| InfoDeposits also has a suite of reports that can
be generated based on the information gathered using the data entry forms. This module provides for generation of various customer advices and a detailed list of registers required for management information. The module also generates and prints certificate of deposits. Additionally, being an important section of deposits, the system assists in generation of interest schedules and payment schedules (in case of recurring and flexible deposits). |
