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.