CORNICHE BANKING SYSTEM

For more than 10 years, Corniche has brought superior functionality and
flexibility to financial institutions. Megasol's design philosophy is simple
- from a single application, provide multiple customisable solutions.

True multiple currency accounting
True multiple currency accounting in which each currency has its own ledger
structure consolidated to a reporting currency with IFRS compliance is
standard. Inter-currency positions are automatically maintained, and both
your balance sheet and income statement can be presented with full details
of the consolidation.

Commodities and digital currencies
Commodities can be treated as currencies allowing use of the system as a commodity broking platform. Digital currencies and digital commodities for both storage and interchange are fully supported. Exchange rates can be imported from an external data service or can updated manually. Creating your own e-currency has never been easier!

Compliance
Use unlimited storage for due diligence records such as transaction sourcing, personal identity documents, employment, bank references, addresses, and for documents associated with these records. Optionally, you may attache Corniche to third-party verification services for watch and address checking and similar functionality.

Client account classes
Corniche features a full range of normal bank account classes together with further special types. These include current, money market and savings accounts, call accounts, term deposits and CD's, loans, commodities accounts and securities accounts. In addition, non-posting memo accounts are also supported and may be used for a variety of functions such as displaying debit card statements.

Interest processing
Fixed and variable interest rates are supported, as are flexible banded interest schemes in which the type and rate of interest to be paid or charged will vary depending on the balance of the account attracting interest. You can easily offer structured investment products in which the length of investment and the banded interest are predefined and your client can then invest in the deposit product with no staff intervention required.

Fees and charges
A wide range of fee earning opportunities on all financial services are available. Accounts can attract opening, monthly or special periodic fees. Debits or credits transactions can incur charges and a number of free debits and/or free credits per month may also be specified. Multiple special fees and charges can be attached to any transaction and will be automatically billed during posting. If desired, debit advices can be printed for any fees assessed.

Agents and commissions
A powerful compensation system which splits commission payment between multiple levels of agents is standard. Commission payments may be actual amounts or percentages of transaction amounts or account balances. Commissions may be defined in ranges so that the commission payable varies depending on the range into which a transaction amount or account balance falls.

Document repository
Corniche provides the ability for both back-office and clients to scan and upload documents for attachment to transactions or for storage in the repository. Documents could support due diligence, provide additional transaction information or could be stored just for safe-keeping.

Messaging
Built-in encrypted messaging services secure communications between a client and your back-office message groups such as Accounting or Customer service. Messages can be exchanged between a client and other clients if so authorised which, for example, allow an agent to keep in touch with clients whom the agent has referred.