Colvir Banking System
The Colvir system comprises the following suites of modules: Core Banking, Compliance, Treasury, Administrative Activity support, Retail Banking, Multi-channel Delivery and management Accounting.
The Core Banking suite comprises the following modules: General Ledger, Customer Accounting, Teller and Cash Delivery Services, Payments System, International Funds Transfer, Loans, Deposits, Collateral, Accounting, Trade Finance, Standing Orders.
The Compliance suite comprises modules that deliver compliance with the requirement of regulatory bodies: Risk Management, AML, Regulatory Reporting and Currency Regulation.
The Treasury suite comprises the following modules: ForEx, Money Market, Securities, Depository Services and Derivatives. All the modules in the suite support transaction in foreign currency and precious metal in domestic and international markets. The module suite supports REUTERS and BLOOMBERG interfaces and maintains a financial informational archive (rates, quotes etc.). The module suite also includes a Liquidity Management module that delivers cash flow gap forecasting and cash flow management.
The Administrative Activity Support suite comprises the following modules: Contract Management, Accounts Payable, Accounts Receivable, Inventories, Fixed Assets, Human Resource and Payroll. This suite is in fact a complete Enterprise Resource planning and Management (ERP) solution intended primarily for use by financial services organizations.
The Retail banking suite comprises the following modules; Bill Collection, Remittance without Account opening, Cambio (Currency Exchange), Safe Deposit Lockers, card System Back Office. In the event this suite is implemented by itself, the implementation may include any Core Banking modules since those modules can support retail banking as well as corporate banking. The different lie in the range of banking products, and probably in the accounting models.
The Multi-Channel Delivery suite comprises the following modules: Account processing, internet Banking for Entities and Individuals, API for Integration of Self-Service Channels. The Account Processing module enables 24x7 supports of all delivery channels. The API included in the Service Bus enable 24x7 support of Card Switching, Internet Banking modules, Mobile Banking modules and other self-service system from any manufacturers.
The management Accounting suite delivers budget planning and performance monitoring for the bank’s main business and administrative activities with budgeting support, as well as organizational structure-wise, asset and liability –wise and banking product-wise revenue and accounting.