CuteBanker Two
The banking
industry has revolutionized with cutting edge technology playing a leading role in the existence of any
financial institution. The back bone of every financial institution is the amount of technology they can
deploy to meet their ever increasing customer needs. The need for a sound technological base is now
paramount. However, technology is not cheap and this has resulted in many organizations and financial
institution using either manual methods or very old technologies to drive their
businesses.
Over the
years banks have deployed various banking software in order to meet up with the ever growing demands of their
customers, but the painful truth is that most of these programs are very expensive, unnecessarily bulky, and
in most instances could not even meet the requirements of the banks. Banks without the required financial
muscle and capital are worst affected since it is economically not feasible to acquire these programs.
Similarly, as a new requirement by Central Bank of Nigeria, all banks are expected to render their statutory
reports in electronic format via the internet and using XML file formats, under a project called
EFASS.
After
studying the requirement of Microfinance banks and the trend in the industry along with regulatory
requirements, DynaTech Solutions
System Ltd embarked on the development of a banking
solution CuteBanker®
Two which as the name implied is intended to be cute,
pleasant and appealing.
CuteBanker® Two meets all the requirements and standards for a suitable management
information system (MIS) in Microfinance Banks (MFBs) as provided by the Central Bank of Nigeria vide their
Circular reference OFID/DO/CIR/VOL.1/482 dated 21st August 2006.
Similarly, CBN vide its instruction circular reference
OFI/DIR/POL/GEN/01/001 DATE 8TH April, 2008 issued a revised format for MFB returns, and instructed that
going forward, monthly returns should be rendered to CBN in both soft and hard copies using the new MS-Excel Format and the softcopy
should be sent as an attachment to the e-mail address: ofid-mfb@cenbank.org.
We
in Dynatech
Solutions simply follow the Apex Bank’s requirement and ensure
that our software fully comply with them.
The product
was designed to meet the following objectives
· Cute and very light.
· Affordable
· Simple and friendly user interface
· Highly Customizable
· Highly Secured
· Minimal Hardware requirement.
· Utilization of state of the art technology.
· Rich in functionalities.
· Efficient
CuteBanker® Two was designed after studying the several banking applications in use
in Nigeria. It is really an innovative, efficient and scaled system that addresses and meets all requirements
of a State Microfinance bank, just like the way its sister CuteBanker® One that was
designed for Unit Microfinance banks.
It has the
following features and functionalities beautifully presented in easily accessible menus to facilitate user
friendliness.
-
Excellent account chart setup
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Automated and manual application of bank
charges.
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Simple Cash withdrawal and deposit interfaces
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Signature/Picture verification and image
processing.
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Products definition
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Automated Interest Calculation
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Highly customizable loan management module
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Management Information System (MIS) and
Reporting.
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Security: Transaction approval; Duality of control;
Passwords
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Non system clock/date dependent
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Single and Batch posting.
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Beautiful Statement of accounts
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CBN and other statutory returns and reports.
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Prudential Ratios and Performance Indicators.
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Staff performance and relationship
management.
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Fixed asset register management.
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Investment and Fund management.
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Multi-Branch MIS Consolidation Module
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Real time online banking operation
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SMS banking.
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Customer Care Centre module
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Standing order management
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Instrument and Cheque management module
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Automated posting of Salaries and other bulk
transactions.
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Money Market and treasury operations
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Support for ATM interface
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Support for Internet Banking interface
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Cash Centre support
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Automated Cheque clearing and post value
transactions
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Custom report Generator
-
Internal Audit Interface
-
Lots more!
Cutebanker
Two © meets all CBN Requirements
Cutebanker© Twois designed with features, functionalities and modules capable of
meeting all the requirements contained in the various CBN and NDIC instruction circulars. Similarly, it has
over Eighty one (81) different readymade reports that will guide management in its decisions and day-to-day
running of the bank.
Following
the basic requirements:
a) Functionality & Flexibility: The solution is highly flexible,
parameter driven and allows users to create products on demand. Similarly, it allows users to capture and
generate reports related to both customers and accounts.
b) Accurate and timely reports: Cutebanker© Two incorporates Twenty Eight (28) prudential returns as well as
daily and monthly reports for management decisions. Similarly, it allows users to generate past
reports.
c) Usability: Cutebanker© Two is an innovative banking solution that is easy to use, user
friendly and capable of generating reports in Microsoft Word, PDF, TXT, XSL and XML formats. It is also
sitting on Sybase database which makes it SQL compatible.
d) Administration & Security: Cutebanker© Two is a highly secured
solution. End-of-period processing is done to ensure proper close of accounting periods. Modules exist for
both backup and restore processes. It has the following security features
a. Encrypted passwords entry.
b. Duality of control for every process on the system. It does not allow
a single user to initiate and conclude a process alone.
c. Process Log: It logs every process and activities of any user of the
system.
d. Access Control: Users have access to only the functionalities to
cover their schedule of responsibility.
e. Data
integrity check and validation security.
Cutebanker© Two incorporated reports on prudential ratios and performance
indicators covering the following categories.
Ø Profitability/Sustainability ratios
-
Adjusted Return on Assets (AROA)
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Adjusted Return on Equity (AROE)
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Operational Self-Sufficiency
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Financial Self Sufficiency
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Profit Margin
Ø Financial Structure ratios
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Liquidity Ratio
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Leverage Ratio
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Capital Adequacy Ratio
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Asset Productivity
Ø Productivity/Efficiency ratios
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Operating Exp/Gross Portfolio
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Cost per Borrower
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Cost per Unit of Money Lent
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Personnel Productivity
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Loan Officer Productivity
Ø Portfolio Quality ratios
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Portfolio At Risk (1 to 30) days
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Portfolio At Risk (31 to 90) days
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Portfolio At Risk (91 to 180) days
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Portfolio At Risk (over 180) days
Ø Asset/Liability Management ratios
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Yield On Gross Loan Portfolio
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Current Ratio
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Yield Gap
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Funding Expense Ratio
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Cost of Fund Ratio
Similarly,
the solution will be constantly modified to meet future requirements and challenges.
Branching
functionalities
Cutebanker
two © supports multi-branching and cash centre operation. Different banks, have different operational
procedures for inter branching and cash centers, however, Cutebanker two© allows for the following modes of
operation
1. Real time online with central database
2. Real time, online, Self accounting with distributed database and
inter-branching
3. Offline, distributed self accounting branches with consolidation
module
Real time
online with central database
With this
mode of operation, the entire database of the bank is in one designated location, and all remote stations or
cash centers accesses the database over a Wide Area Network (WAN), VPN or any other communication facility.
The success of this mode is highly dependent on the network availability; however it ensures reconciliation
free process and real time and online access to accounts across the bank. This is ideal for cash centers and
remote desktops.
Real time,
online, self accounting with Distributed Database
With this
mode of operation, the database of a branch is within the branch office and all branches accesses the
database over a Wide Area Network (WAN) for inter-branching. This is only feasible when the two branches
involved in the inter-branching are connected; however each branch can work effectively without the WAN. As
inter-branch transactions are posted directly, no manual reconciliation is
required.
Offline,
Self accounting branches with Distributed Database and consolidation
module
With this
mode of operation, the database of a branch is within the branch office and other branches carryout
inter-branch through the use of inter-branch account and other means of balance confirmation. Data from all
branches is later sent to head office for consolidation and reconciliation. It does not require any network
connectivity, but simply procedures.
Central MIS Consolidation Module
The central MIS
Consolidation module, CBC Two
© is specifically designed to consolidate the database of two
or more Cutebanker Two
© branches into a central database to enable central Management
Information System (MIS) reporting and reconciliation.
With this module, the bank
will be able to periodically receive data from its branches over the internet, wide area network or from
removable media and automatically consolidate it for central reporting and
inquiries.
The consolidation could be
done daily, weekly, fortnightly or monthly depending on the requirement. Reports could be printed for a
particular branch or all consolidated branches. Similarly, reports could be printed for particular
accounts.
With this mode, each branch
has its own database, however inter branching is done via an inter-branch account for each
branch.
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