5.3.12 Rate Cards

Rate card functionality allows the user to select standard products for viewing in their daily FTP Rate report. Administrators schedule a daily FTP run for the selected set of standard products and end users can view daily rates for relevant standard products by defining their Daily rate card reports.

Rate cards are used only for informational purposes. They are used to give an idea of the prevailing transfer rates as per the current market scenario before actual transactions take place, unlike a Standard Transfer Pricing Process where a bank runs at the end of each month to generate Transfer Rates for each booked instrument record.

For example, think of a situation where a user (Bank Personnel, Account officer, so on) wants to refer to the current cost of funds rate before the transaction rate is quoted. Having access to this up-to-date information allows the banker to be pro-active with their pricing decisions having full knowledge of the cost of funds and prospective rate spread before quoting a rate to the customer.