1.1.2 Product Processor for Nostro Accounts and Corporate Accounts

This topic provides the information on the components of the product processor.

Nostro Accounts

Account Class

• Accounts can be broadly categorized using the account class.
• Users have the option to define preferences and features in an account class that is set as default during account creation.
• Facilitates faster account onboarding to the system and improved operational control.

Reconciliation Product

• Specify one of the two types of reconciliation, Replication and Mirroring.
• Captures the adjustment GL to post adjustments that account for the differing amounts between Internal and External entries.
• Captures the manual matching limits for each currency.

External Accounts

• Create accounts for external banking entities and link them with the corresponding internal accounts.
• Specify a reconciliation product for an external entity that helps in matching and reconciling external accounts.

Reconciliation Rule Definitions

• Specify rules based on attributes of internal and external transaction entries
• Configure rules to handle positive and negative tolerances based on amount and value date.

Reconciliation Rule Decision

• Map Rules to a Nostro account based on Entity and Currency.
• Map rules to a Nostro account based on Reconciliation product, Entity, Account, and Currency level.
• Configure the order in which the rules execute.
• Define amount tolerances based on Absolute amount or percentage.
• Define value-date based tolerances.

Transactions and Balances

• APIs to accept Debit or Credit entries postings to an account.
• Accept single or multiple legs and multiple transactions in a call.
• Different transaction processing paths based on attributes, severity level for Overrides, and force post.
• Track different balances like current, available, uncommitted, unconfirmed and others.
• Account validation API to perform validations before posting.
• External Credit Approval (ECA) facility to create block upfront and then accept posts later based on the block.
• Varied ECA parameters to create partial block, force block, or partial utilisation of block.
• Transaction post processing to update current balance, activity and book-dated and value-dated balances.

Account Search

• Support for Account 360 degree view based on various user rights.
• Support to various customer account attributes as configurable widgets.
• Drill down to detail views at widget level, wherever applicable.

Enquiries

• Provision to query accounting EA entries or transactions on an account for the day or a given date range.
• Provision to query internal entry for a product and entity in a date range. If the entry is matched the system displays the corresponding external entry as well.

Corporate Accounts

Hold Code

New configuration to capture Hold Code and Description which will be used during a Legal Block creation.

Transaction Code

Transaction code configuration is enhanced to capture a new field that indicates if the transactions posted using the transaction code is considered for activity on the account.

IBAN Information

IBAN Information configuration is enhanced to display the IBAN Mask.

Transaction and Balances

Post Processing Manual Retry function introduced.

Enquiries

• ECA or Legal block enquiry for an account based on date range and status.
• Balance enquiry for an account's book dated or value dated balance.
• Cheque status enquiry for an account.
• Stop payment enquiry for an account.
• Accounting enquiry for an account based on Date Range, Today, or Number of previous transactions.