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7 pages/≈1925 words
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Level:
Other
Subject:
Technology
Type:
Proofreading
Language:
English (U.K.)
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MS Word
Date:
Total cost:
$ 37.8
Topic:
Branch Network Department: Technology in the Banking Sector (Proofreading Sample)
Instructions:
the client wanted me to simply proofread and not substantially change the work. he was greatly impressed. the sample is about technology in the banking sector.
source..Content:
Date: …/…/2015
Branch networking
Payments (Tower 1)
Functions of the Payment Department
This department is in charge of effecting payments to customers. Payment refers to the transfer of money from the payer’s account to the customer’s account upon a requisition by him. This requisition is usually made on monthly basis. Also, this department is responsible for giving incentives to the employees. These incentives are usually intended at motivating employees in their work. It does this by for instance paying for the auto leases of its employees. As such, it keeps all the name of the employees and their account numbers. Finally, this department also facilitates the payment of public loans including loans for Real Estate Development Fund through the client’s bank account.
MIS section
The main mandate of this department is printing daily, weekly and monthly reports for all departments. These reports enable auditing of the individual performance of departments to facilitate understanding challenges and problems they might be facing. These reports could give more information about how many credit cards were issued and how many are on hold. They would also outline how many credit cards they receive daily. In the monthly report, reasons why some cards would be pending could also be tendered. A loans report would indicate clear how many loans the bank gave out. This department would then send these reports to the quality and control department for evaluation of the branch network’s performance. Normally, the MIS sends three daily reports on Direct Sales and phone banking, number of sales for regional managers and the sales ratio for higher management.
.
Inquiry department
This department is concerned with receipt of questions from other branches and departments in the bank. For instance, if the branch inquires about the status of a client then this question would be directed to the inquiry department.
To facilitate its operations this department uses the following programs; a) Capri; b) FDR and; d) Finacle. The finacle program could be used to merge two accounts to be used under one credit card. Once a branch authenticates a client’s signature, it sends it to the branch networking. The bank then uses the Sadad which is connected through finacle to pay for public loans.
Credit Card Tower (2)
All applications for credit cards from the Kingdom are received by this department. Before a credit card is issued by this department, the following procedure must be undertaken. Registration of the client is the first stage, then prescreening, simah report-which summarizes the credit history of the client, analysis of the credit card, entry of data and issuance of the card. Ultimately, the department controls the use of the card after issuance to ensure the client is in compliance with the bank regulations.
To enable its operations, this department uses the following systems: the internal database, Vision plus (FDI), Carpi and Simah.
Prescreening stage
At this stage, the application for a credit card is received at the branch, during phone sales or during direct sales. It is usually received by the branch’s employees. The application may be one requesting the adding of a limit of the card, one asking for an extra card or one for the promotion of the card. The employees will then have to assess the status of the client in the CAPRI program. This is done in order to ascertain whether the client already has a loan or a card. They would then attach the report of the assessment on the application.
Simah report
This report contains the client’s transaction history, client account details and the customer summary report. The staff in the branch has to print it.
Orders of direct sales:
First the branch staff has to check whether the client has an account. If he does not have one, the branch staff or employee should create a new account for the client. Where the client’s account is old, the employee is required to update it. The employee only does this if the client does not have a loan or a credit card. Finally, the employee is required to print the client’s Simah report to enable him to confirm whether the client has any obligations.
Analysis in LOS program
The employees will make a scan for the order of credit card in LOS program. The scan will contain the application of credit card, and the ID. Thereafter, the employee will go through the clients account in the CAPRI program to study the client’s monthly salary. This important because the rate of deductions varies. The rate of deduction will be:
33.33% for employees.
25% for retirements.
If the rate of deduction more than the specific rate, the employee will reject the order. Such rejection is done on the following grounds: (1) if the salary has obligation of 10000 riyals. (2) If the person who has wealth has obligation of 1000 or a pending applications because the information in the application is missing in some parts.
Data Entry
The employee then opens the order of a credit card and sees the kind of order. Later, the employee will then enter the information of the client it in the program (FDI).
Issuing the credit card
Using the FDR program, the employee has to check the client’s information before issuing the card. He has to confirm that the analyses are in accordance with the salary or wealth of the client. He is also authorized to place a limit on the card according to the type of the card. Finally, the employee would print the form issuing the card and then attach it with the form to be send to the control section.
Control
The staff in the control section will take the executed orders and act upon them. The staffs here have to check that the information entered is correct. If the application is approved, they will send it to the archives. If the application is rejected, the employees have to still send to the archives but after a month it will be destroyed.
Tower (3)
Accounts unit
Mailing department
Mailing department receives the opened new accounts and the updated accounts from the branches. This department would then start to divide the documents into residents and citizens. They will put all the documents in a bunches of 20.
Branch networking
Payments (Tower 1)
Functions of the Payment Department
This department is in charge of effecting payments to customers. Payment refers to the transfer of money from the payer’s account to the customer’s account upon a requisition by him. This requisition is usually made on monthly basis. Also, this department is responsible for giving incentives to the employees. These incentives are usually intended at motivating employees in their work. It does this by for instance paying for the auto leases of its employees. As such, it keeps all the name of the employees and their account numbers. Finally, this department also facilitates the payment of public loans including loans for Real Estate Development Fund through the client’s bank account.
MIS section
The main mandate of this department is printing daily, weekly and monthly reports for all departments. These reports enable auditing of the individual performance of departments to facilitate understanding challenges and problems they might be facing. These reports could give more information about how many credit cards were issued and how many are on hold. They would also outline how many credit cards they receive daily. In the monthly report, reasons why some cards would be pending could also be tendered. A loans report would indicate clear how many loans the bank gave out. This department would then send these reports to the quality and control department for evaluation of the branch network’s performance. Normally, the MIS sends three daily reports on Direct Sales and phone banking, number of sales for regional managers and the sales ratio for higher management.
.
Inquiry department
This department is concerned with receipt of questions from other branches and departments in the bank. For instance, if the branch inquires about the status of a client then this question would be directed to the inquiry department.
To facilitate its operations this department uses the following programs; a) Capri; b) FDR and; d) Finacle. The finacle program could be used to merge two accounts to be used under one credit card. Once a branch authenticates a client’s signature, it sends it to the branch networking. The bank then uses the Sadad which is connected through finacle to pay for public loans.
Credit Card Tower (2)
All applications for credit cards from the Kingdom are received by this department. Before a credit card is issued by this department, the following procedure must be undertaken. Registration of the client is the first stage, then prescreening, simah report-which summarizes the credit history of the client, analysis of the credit card, entry of data and issuance of the card. Ultimately, the department controls the use of the card after issuance to ensure the client is in compliance with the bank regulations.
To enable its operations, this department uses the following systems: the internal database, Vision plus (FDI), Carpi and Simah.
Prescreening stage
At this stage, the application for a credit card is received at the branch, during phone sales or during direct sales. It is usually received by the branch’s employees. The application may be one requesting the adding of a limit of the card, one asking for an extra card or one for the promotion of the card. The employees will then have to assess the status of the client in the CAPRI program. This is done in order to ascertain whether the client already has a loan or a card. They would then attach the report of the assessment on the application.
Simah report
This report contains the client’s transaction history, client account details and the customer summary report. The staff in the branch has to print it.
Orders of direct sales:
First the branch staff has to check whether the client has an account. If he does not have one, the branch staff or employee should create a new account for the client. Where the client’s account is old, the employee is required to update it. The employee only does this if the client does not have a loan or a credit card. Finally, the employee is required to print the client’s Simah report to enable him to confirm whether the client has any obligations.
Analysis in LOS program
The employees will make a scan for the order of credit card in LOS program. The scan will contain the application of credit card, and the ID. Thereafter, the employee will go through the clients account in the CAPRI program to study the client’s monthly salary. This important because the rate of deductions varies. The rate of deduction will be:
33.33% for employees.
25% for retirements.
If the rate of deduction more than the specific rate, the employee will reject the order. Such rejection is done on the following grounds: (1) if the salary has obligation of 10000 riyals. (2) If the person who has wealth has obligation of 1000 or a pending applications because the information in the application is missing in some parts.
Data Entry
The employee then opens the order of a credit card and sees the kind of order. Later, the employee will then enter the information of the client it in the program (FDI).
Issuing the credit card
Using the FDR program, the employee has to check the client’s information before issuing the card. He has to confirm that the analyses are in accordance with the salary or wealth of the client. He is also authorized to place a limit on the card according to the type of the card. Finally, the employee would print the form issuing the card and then attach it with the form to be send to the control section.
Control
The staff in the control section will take the executed orders and act upon them. The staffs here have to check that the information entered is correct. If the application is approved, they will send it to the archives. If the application is rejected, the employees have to still send to the archives but after a month it will be destroyed.
Tower (3)
Accounts unit
Mailing department
Mailing department receives the opened new accounts and the updated accounts from the branches. This department would then start to divide the documents into residents and citizens. They will put all the documents in a bunches of 20.
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