Overdraft Products

The Overdraft Module is intended for the computerizing business operations related to maintaining and servicing overdraft and card products.

Short

The Overdraft Module is intended for the computerizing maintaining overdraft and card products at the back office.
The Module is providing for the servicing of the following products:
  • Allowed overdraft
  • Allowed overdraft for a group of companies with a common limit
  • Credit card
  • Technical (unauthorized) overdraft
The Module’s specific feature is automatic completion of all operations related to the servicing of agreements:
  1. The opening of accounts for agreement servicing;
  2. the providing a tranche to cover the “red balance” in accounts;
  3. Interest accrual;
  4. Debt repayment;
  5. Drawing up invoices;
  6. The application of a grace period when paying a principal;
  7. Arrears transferal;
  8. The application of a grace period when paying penalties for overdue debts;
  9. The computation and collection of penalties and fees, including:
    • Monthly omission fees;
    • A penalty for a failure to pay a compulsory payment;
    • A penalty for the fact of generating a technical overdraft;
    • A penalty for the fact of the emersion of an overdue debt.
  10. The computation of a exposure group under an agreement;
  11. the accounting of changes in such exposure group;
  12. the generating Provisions for Probable Loan Loss and Provisions for Probable Loss in the group of coupled borrowers;
  13. the applying scheduled amendments in agreement parameters;
  14. the accounting of operations.
The Module has been optimized for automatic effective processing of a great number of agreements. The time consumed for the processing of 1 million of active agreements equals from 10 to 20 minutes.

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