Customer

Business organizations’  main leverage to success is their customers. Analyzing services they need or interested in, and defining gaps of services offered helps to set spot-on marketing policy and strategy. When targeting markets, continuous communication with customers as well as collecting their detailed information about education level, characteristics, relationship, maturity and business sector are crucial. The Customer system helps business organizations to establish comprehensive data of their customers.

Current Account

This system manages daily transfers, payments and remittance transactions of customers’ current accounts.

Savings Account

This system will manage bank operations related to savings product offering. Savings product offering involves placement of funds for given period of time, and benefits customers with interest revenue, for the bank the funds allow to finance loan products. In case of savings contract termination before the term end date banks will be able to charge commissions of fund loss and term termination. Also, the system allows calculation of interest from the actual daily balance of savings.

Loan Account

This system manages the lending business of banks. Loan system records and manages loan balance, accrued interest and debt amount on a daily basis. The payment order can be configured based on dates of payable or by balance type. Current accounts can be tied to loan payments, if the current account balance is not sufficient at the payment point, the system will place request for loan payment to be processed at later date once funds are available in the current account.

Collateral

This system manages collateral used to mitigate loan repayment risks. Before the bank issues a loan, customer credit capability is evaluated. The borrowers’ income may be adequate for initial payments but income stability can not be guaranteed, here the collateral can provide assurance.

Contingent Accounting

When the bank doesn’t have a specialized system for certain business, the contingent accounting system can be used to partially keep accounts and transactions of the business. For example, in case trade finance system is not present, letter of credit and guarantee services can be recorded in the contingent account system.

Branch Accounting

Cash

Branch accounting system is used to keep the record of Bank’s internal operations’ accounts. Various branch account products can be configured using balance type, characteristic, currency and corresponding General ledger account.
The purpose of the Cash system is to keep the record of cash safe accounts and their transactions. Cash account posts transactions to General Ledger system.

GrapeCity Mongolia LLC

We are leading Banking and payments solution provider in Mongolia since 2000.


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ADDRESS

Мongolia, Ulaanbaatar, Sukhbaatar district,
Student Street - 22, Khoroo 8
14210, P/o 48/6
Phone: (976) 75756622
Fax: (976 11) 328707
mongolia@grapecity.mn

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