The Design And Implementation Of Deposits System Of Commercial Bank X’s Canadian Branch

Commercial Bank X decided to promote FOVA oversea system in its Canadian branch in early20xx,for the following purposes: to meet the business development demand; to improve the capacity of internaland external interconnection system; to realize the sharing of resources from both home and abroad; toenhance the centralized management capabilities and strengthen business risk control capability. As there’refunctional differences between the original system and Canadian branch’s business requirements,Commercial Bank X set up a special project team to upgrade the system, and then test the accuracy andstability of the functions..Throughout the project cycle, the FOVA upgrading system covers customer information management,general ledger and accounting, loans and deposits, remittance and clearing, foreign exchange trading,clearing, etc. the author is mainly involved in the research and transformation of deposits line business, sothe research subject of this paper is the design and function realization of deposits business. Focusing onspecific characteristics of the relevant business functions, the author elaborated on the transformation of thewhole process, including initial business needs analysis, detailed system design and function realization, aswell as final test of production function. Concerning commercial secret of Commercial Bank X, the paperdoes not give very specific implementation details of some features.The deposits line transformation of the Canadian branch mainly involves the following five areas:Overdraft limit management reform: The overdraft limit is extended to support multiple accounts,based on original mode, which only supports one account.Customer cash monitoring transformation: According to local financial regulatory requirements, cashbusiness needs24hours of real-time monitoring, and bank shall report to supervision bureau for excessbusiness.Pay packages flexibility transformation: Based on the original charges deal by deal, the pay packagesare now a combination controlled by parameters, and support preferential price.Interest Tax Function Expansion: Support interest rates distinction based on customers’nationality.Local specialties deposit business in Canada branch: RRSP-resident retirement savings plan productsand TFSA tax-free savings accounts. The transaction between the two groups of accounts enjoys specialtax-free policy.