T24 Account

In T24, accounts can be classified as two types : Customer and Internal.

The Account Module caters for  creation and  maintenance of all types of accounts handled by Temenos T24.  It also provides for:

- calculation, accrual and application of interest on customers' accounts. Interest could be either Fixed or Floating

-          calculation of charges relating to the maintenance and servicing of accounts.

-          production of account statements and overdraft and referral reports.

-          Accounts within T24 are classified as Customer accounts or Internal accounts.

-          Customer accounts are those owned by an external customer such as current accounts, savings accounts etc.

-          Interest and charges can be applied to Customer accounts.

-          Internal accounts are those owned by the bank e.g. suspense accounts, cash accounts and not designed to calculate or apply interest and charges

-          Customer Accounts

-          These include any accounts related to a customer and are identified by account numbers of up to 14 digits including the check digit.

-          In addition to the account number and the customer record to which the account relates, the record contains details such as: Currency, Category, Limit, Account Officer etc.. Customer details such as name, nationality, residence etc., are held in the customer base record and will be taken from that record as and when required.

Menus and sub menus are arranged in a logical business sequence to take care of opening and maintaining Account and related applications.

Savings Account in local and foreign currencies can be opened through Open Savings Account LCY and Open Savings Account FCY sub menus respectively.

Current Account and Nostro Accounts can be opened through Open Current Account and Open Nostro Account sub menus respectively.

Accounts can be amended using Amending of Account sub menu. Authorising and Deleting unauthorised accounts could be done through Authorising and Deleting Unauthorised records  sub menu.

Account closure sub men can be used to close an existing account.

Account Maintenance sub menu can be used to for resetting Inactive accounts, Blocking of funds, Changing frequency of Statements, setting  debit interest and credit interest rates at account level, besides  Account Capitalisation.   

User can look into Account related enquiries such as Account list, Accounts of a Customer, Today’s Account balance, ,Average Account balance, Account statements, etc.

User can view COB reports – Trial balance details and Account balance list

Opening Savings Account in local currency can be done by filling up the Basic Input section.

All mandatory fields are displayed in the Basic Input Section. By filling up these, a Savings Account in local currency can be opened.

It is possible to open a Savings Account in local currency by inputting only one mandatory field  viz. CUSTOMER ID. All the other fields are optional or get default values

Product code is set to default 6001 in Model Bank, which is for Savings account.

Next to Customer, Account is central to all other applications in T24.  We need accounts to have Customer type of accounts like Savings and Current accounts.

We also need accounts to reflect balance of our Nostro accounts held with outside banks.

In addition, all contract applications in T24 need accounts – either Customer type or Internal accounts for moving money – be it for giving a loan or taking a deposit.

Even if a Customer does not have an account with us, we need to have atleast a Nostro account or internal accounts like Suspense account or Cash account to deal with Customer.

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T24 Customer

In this section we will look at  the CUSTOMER application and the basic information required to establish a database. We will create records for Individual, Corporate and Bank Customers. Finally we will look how to use Customer related enquiries

The CUSTOMER Application contains  basic information (static data) relating to any "Customer" with whom the bank has dealings.

It is central or “Core” to the system. All management information, services are organised around Customer record.  The CUSTOMER Application contains all the basic information about any "Customer“ (entity) with whom the bank has dealings with. It need not be a ‘Customer’ in the conventional sense of the word. In this sense, a customer base record will need to be opened for correspondent banks, brokers, guarantors etc., as well as for current and savings account holders.

All business process applications refer to the Customer record during processing. Therefore it must be opened before any Customer business activity can be recorded in Temenos T24.

Customer records for banks, correspondent banks, Agents, etc. should ideally be opened at installation of the System even if these banks are not Customers of your institution, in the real sense of the word. The existence of these Customer records will minimise input of data in Transaction Processing Applications like Money Market, Foreign Exchange, Funds Transfer, etc. where details of banks are always necessary to indicate the settlement details of the transaction.

Ideally only one Customer record should exist for each Customer.  This can be created whenever a name and address is obtained and is not dependent on the existence of an account.

For example, a Customer record can be set up for a Customer with whom the Bank only expects to have Money Market or Foreign Exchange contracts. If later an actual account is opened (e.g. current account or savings account) it will not be necessary to input this information again since the Customer number is an integral part of the Customer Account record and Temenos T24 always refers to the Customer base record for all basic information.

Menus and sub menus are arranged in a logical business sequence to take care of opening and maintaining Customer and related applications.

Individual Customer record can be opened through Individual Customer sub menu. Similarly a Corporate Customer record can be opened through Corporate Customer sub menu. Authorising and Deleting Customer Details sub menu, can be used for authorising the record or deleting the same. A Customer record once authorised cannot be reversed. Authorised Customer records can be amended using Amending Customer Details sub menu.

Corporate Customer records sub menu is also used for opening a Bank Customer record. After authorisation of the same, one can open an Agency record through Creating or Amending Agency record Sub menu. Agency records are helpful in settlement instructions.

Address mentioned in the Customer record is defaulted as first Print address which can be looked at DE.ADDRESS. In case another address is needed to be added for a Customer record, be it Print, Swift or Telex , the same can be input through Additional address of Customer Sub menu.

User can also look into Customer related enquiries such as Customer details, Customer Relation and  Customer Accounts.  

T24 is Customer centric software.  Descriptive details of Customer are all stored at one place – CUSTOMER record.

All other applications get linked to this.By this, any change in Customer details are required to be done only at one place. 

CUSTOMER record gets pick up values from several static tables, which are pre defined to suit individual bank’s way of reporting or recording information.

Reports, even when designed to pick information from business applications can always get relevant information from underlying CUSTOMER Records.Hence, Customer wise profitability or exposure will in turn lead to industry wise or sector wise details also.Customer details are also useful for future marketing efforts of a Bank.

T24 Navigation

 

The Browser is the latest front end to Temenos T24. It is a light client as we use a common browser link Internet Explorer to log on to Temenos T24. There is therefore no need for installation of special software in the client systems. This is unlike the other front end from Temenos, called the DeskTop, which needs to be installed on each of the client machine.



T24 Sign In Screen



DeskTop is interactive through out displaying field level enrichments even before validation. DeskTop can be used to run interactive T24 routines / programmes (like TSA Service) Classic can be used for running COB operations.

For logging on to Temenos T24 one needs to  type only  the appropriate URL in the address bar of the Internet explorer or Netscape Navigators. This takes one to the Temenos T24 Sign On screen.

The URL might differ from one installation to another. Once the correct URL is typed in the address bar, the T24 sign on screen will appear where Sign on name and password have to be specified .

On successfully signing into Temenos T24 one will be taken to this screen. While the above representation is the standard colour scheme and template (skin) of Temenos, it is possible to choose different skins.

The various parts of this screen are described and discussed in the following pages.

To log off the system, one needs to click on the button with a “ Sign Off “ as shown in the screen shot above.This screen displayed, prepares the system to determine which Server address it should locate and which account of Temenos T24 it should log on to. (If multiple Temenos T24 Database accounts exist). You would now enter  the Server Login Name, and Password that is supplied by the IT or Security Administration department. Note that the password will be encrypted and that these settings will be case sensitive. One important box that you may wish to use is the “Remember Password” checkbox.

This Login can be automated using a script and activated in the start up procedure, i.e. when the Temenos T24 Launch Icon is clicked. Once Temenos T24 DeskTop has been successfully connected to the Server, the  Temenos T24 Sign On screen is displayed.

Enter your name and the appropriate password in the relevant fields. The Sign On Name is located in the “User” profile within Temenos T24.

Note - BOTH the User name and password have been encrypted, and are displayed as a line of asterisks.

Once you have signed in Temenos T24 will analyse your User name and password and allocate the correct Menus, Applications, and User details/permissions linked to your specific profile.

To sign off from Temenos T24 and the Server click on the File option on the Main Menu bar, or select the Exit and Log Off Option. Alternatively click on the button marked ‘Sign Off’ in the top right hand corner of the main Temenos T24 window. This will then display the Temenos T24 message asking - “Do you really want to exit Temenos T24?” Click on the “Yes” button and you will be logged out.

It is important that each User signs out correctly. Temenos T24 DeskTop sits on top of the jBase/ database. If you do not sign out correctly the database will assume that your session is still running.

A problem may occur when you need to look at Temenos T24 again. If you cannot access Temenos T24 and a message will be displayed stating that you are already logged on.  You will need to get your System Administrator to reset your profile as Temenos T24 Security only allows a User to be signed on once.

The name of the user, currently logged in appears in the top left hand corner of the screen. In the line following that various details like when the user last signed on and the number of unsuccessful attempts (using incorrect password) is also shown. The next line has a  tool bar with several buttons. This is followed by a “Command Line”

T24 Browser provides a set of tools to make easy some of the common administrative tasks that users perform. Change Password option allows the currently signed on user  to change his/ her password. Once you enter necessary values, choose GO. If the password change is successful, the text “Password changed successfully” is displayed. The change will take effect on subsequent logon.

My Companies option allows the user to move move / change from one company to another. In T24, normally each branch of a Bank is referred to as a company.TheUser will bepermitted to change to other companies based on the Security Management Setup (SMS)

T24 Overview

T24 Technical Architecture

We have an overview of the Temenos T24 banking system here.

While Temenos T24 boasts of a ‘disruptive technology’, it also draws upon the rich functional features that have been developed over the years. This makes it one of the most advanced software products in the world to meet the needs of the financial services market.
There are certain facets of the software, which are ‘Core’ and which all banks which wish to use Temenos T24 have to procure. The ‘Core’ includes, among others, applications such as CUSTOMER, ACCOUNT, LIMIT, the Security management system, various utilities, the messaging systems (DELIVERY). Most business modules such as LOANS.AND.DEPOSITS, MORTGAGE, FOREX, SWAPS, SECURITIES, DERIVATIVES etc are optional and banks may procure them based on their business requirements.

Temenos T24 is based on open standards. This means that clients can select the best vendor or environment to suit their own needs – whether this is low cost, high performance, local support or any other factor.

If this changes in the future, they can switch vendor without altering their investment in TEMENOS T24.
This will provide true longevity to their chosen system.T24 can run on jBase or on Oracle database or any other database which the clients are comfortable with.

Large banks have also been concerned about scalability and also resilience of the software. T24 has been able to address these concerns by an architecture which provides for multiple application/database servers at various levels. Additional processing capacity can be added by simply adding more servers. The architecture also ensures that there is no single point of failure.
This is the standard T24 architecture that has been used for many years. It remains unchanged.

T24 Server will hold T24, jBASE, OFS and TEMENOS CONNECTOR server installations. TC Server is the entry point for requests into T24. It is in the T24 server, that all the business logic is held and the actual validation of data happens at this server.

This is the standard T24 architecture that has been used for many years. It remains unchanged.

T24 Server will hold T24, jBASE, OFS and TEMENOS CONNECTOR server installations. TC Server is the entry point for requests into T24. It is in the T24 server, that all the business logic is held and the actual validation of data happens at this server.

T24 Server : Each of these servers will contain a separate T24 (without bnk.data directory), jBASE, OFS and TEMENOS CONNECTOR server installations. TC Server is the entry point for requests into T24. It is in the T24 server, that all the business logic is held and the actual validation of data happens at this server.

Database Server : T24 is database independent, and supports different databases, including Oracle and DB2. It is in this database server that Oracle/DB2/J4 is installed. This is where the T24 data will reside in XML format. Oracle/DB2 databases support clustering and therefore a single Oracle/DB2 installation can be done across multiple servers. J4 does not support clustering and therefore only one database server can be used if J4 is to be used as a database