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Oracle FLEXCUBE Universal Banking
Oracle FLEXCUBE Universal Banking is a comprehensive, integrated, and modular banking solution provided by Oracle. It is designed to meet the diverse needs of financial institutions, including retail banks, corporate banks, and financial services providers. FLEXCUBE Universal Banking covers a wide range of banking functionalities and can be customized to suit the specific requirements of different financial institutions. Here are some key features and aspects of Oracle FLEXCUBE Universal Banking:
1. Modular Architecture of oracle flexcube core banking system V 14.4:
FLEXCUBE is built on a modular architecture, allowing financial institutions to choose and implement specific modules based on their business needs. Modules include core banking, lending, trade finance, treasury, and more.
2. Core Banking Functionality:
The core banking module includes features for managing customer accounts, deposits, loans, and other essential banking operations.
3. Multi-Channel Banking:
FLEXCUBE supports multi-channel banking, allowing customers to access banking services through various channels such as branches, ATMs, online banking, and mobile banking.
4. Comprehensive Lending Solutions:
The lending module provides functionalities for managing various types of loans, including retail, corporate, and specialized lending products.
5. Trade Finance:
FLEXCUBE offers trade finance capabilities for managing international trade transactions, letters of credit, guarantees, and other trade-related activities.
6. Treasury Management:
The treasury module enables financial institutions to manage their treasury operations, including risk management, foreign exchange, money markets, and investment activities.
7. Compliance and Regulatory Reporting:
FLEXCUBE includes features to help financial institutions adhere to regulatory requirements and generate reports for compliance purposes.
8. Scalability:
The solution is designed to scale with the growth of financial institutions, making it suitable for both small banks and large, complex financial organizations.
9. Analytics and Business Intelligence:
FLEXCUBE incorporates analytics and business intelligence tools to provide insights into banking operations, customer behavior, and performance metrics.
10. Digital Banking and Customer Experience:
The platform supports digital banking initiatives, providing a seamless and enhanced customer experience through online and mobile channels.
11. Integration Capabilities:
FLEXCUBE can integrate with other systems within the bank's IT infrastructure, facilitating smooth data flow and interoperability.
12. Security Features:
The solution includes security features to protect sensitive financial data and ensure compliance with industry standards.
13. Regular Updates and Support:
Oracle provides regular updates and support services to ensure that financial institutions using FLEXCUBE have access to the latest features, bug fixes, and security patches. The above list make oracle flexcube as number 1 core banking system in the world.
Test Case for Customer and Accounts Module of Oracle Flexcube core banking system v 14.4.0
Creating test cases for a core banking system involves ensuring that various functionalities and scenarios are thoroughly tested. Below are examples of test cases that cover different aspects of a core banking system. Keep in mind that the specific test cases will depend on the functionalities and requirements of the core banking system being tested. Lot of banking knowledge and system knowledge is required to write best banking application related test cases. Levarus put lot of effort in understanding the latest version of oracle flexcube core banking system version 14.4.0.0 and created the following list of test cases for all the modules.
1. System should support creation of customer for Group Leader/Group Member,Minor/non minor,Individual,Corporate,Guardian,Prospect,Mandate holder for Individual & Corporate customer.
2. System should support individual customer details including - Title,Customer name (e.g. customer long name, customer short name, customer alias, etc.),Identification (e.g. national ID card no., passport no., birth certificate no., etc.), Background (e.g. country of residence, residency status),Gender,Sensitive personal information (e.g. mother's maiden name, date of birth, country of birth, etc.)and Customer risk level/risk classification from Central Bank.
3. System should allow to capture core customer information for corporate Customers such as Business sector (in classification consistent with those used in Central Bank and credit bureau),Background (e.g. country of registration/incorporation, date of registration/incorporation, etc.),Parent company (e.g. name, ID, etc.),Child/subsidiary company (e.g. name, ID, etc.),Ownership/major shareholder details (e.g. name, ID, sharing holding, voting right, etc.)
4. System should allow to maintain PID type master.
5. System should not allow to accept expired PID.
6. System should allow the maker to input NIC details for walk-in-customer, if the customer is a country resident.
7. System should allow the maker to input passport details for walk -in- customer, if the customer is a foreigner.
8. System should allow the customer to input NIC details for a country resident and passport details for a foreigner, if the request is via channel
9. System should able to identify, if the customer PID is already linked with the existing customer.
10. System should have a provision to run a blacklist check for existing customer as well as non-existing customer.
11. System should have the provision to send request to compliance department for clearance,if the customer is blacklisted.
12. System should have an option to screen the customers against various lists like FATF, OFAC etc.
13. System should allow CSO to input Customer Details after Screening process is cleared by Compliance officer.
14. System should allow the maker to input the customer details,account details and upload the scanned documents in case of new customer.
15. System should allow the user to select customer type and account type. Based on the selection system will enable the applicable fields.
16. System should allow to do the KYC check during customer on-boarding.
17. System should allow to accept applicable special characters.
18. System should allow to accept AKA name during customer on-boarding.
19. System should allow to create bulk CIF(Customer Information File) by importing
customer lists from external batch file/Excel/ XML/ API etc and upload into the system.
20. System should check and display warning message for duplication of customer information in the batch file/Excel/ XML/ API etc while generating CIF.
21. System should support to define the minimum and maximum number of characters for each field while creating customer information
22. System should allow to capture contact information like Address,Contact number,Fax number,Email address and Preferred contact channel.
23. System should allow to capture socio-economic information like annual income, monthly salary income, spouse income, other income, etc for Individual customers.
24. System should allow to capture socio-economic information like annual turnover, net worth, authorized capital, paid-up capital, etc for Corporate customers.
25. System should allow to capture demographic information like Employer/sponsor name,Employer contact number,Sponsor contact number,Duration of employment,Marital status and Parent Details.
26. System should have the provision to verify the customer identity including online signature card, photograph and any other identity proof
27. System should allow to capture relationship details such as Customer/group customer to facility/product/limit on a one-to-many basis.
28. System should support generation of Flexible Customer ID/CIF Structure which will help to easily identify and configure by the bank.
29. System should allow to accept other customer privileges such as alerts, ATM/debit card, cheque book issue, mobile banking/internet banking registration, statement request etc during customer on-boarding.
30. System should allow to assign relationship manager, customer service representative who should be responsible for managing the relationship between the customer & the bank.
31. System should allow to capture FATCA details wherever required.
32. System should allow to customer risk classification based on various parameter such as occupation/nature of business/customer type/transaction pattern.
33. System should display an error message in case any mandatory fields are not captured.
34. System should not allow to submit the record without capturing the mandatory fields.
35. System should allow to capture introducer details.
36. System should able to capture thumb impression/biometric information during client on-boarding wherever applicable.
37. System should have the option to collect the required documents as per the product
38. System should allow the CSO to verify the documents as per checklist.
39. System should have an option to request the customer for the missing documents, if the documents are not as per the Checkllist
40. System should allow the CSO to verify whether the customer is low/medium risk.
41. System should be able to assign a Customer Risk Rating automatically.
42. System should have a provision to send for approval,if the CRR is low/medium.
43. System should have a provision to send to the compliance department for clearance,if the CRR is high
44. System should have an option to update the CRR,if the compliance department agrees to change the CRR from high to low/medium
45. System should allow the authorizor to authorize/send back the updated CRR request.
46. System should generate CIF and account number, if the updated CRR request is approved.
47. System should also be capable of configuring the authorization as 4 eye principle or 6 eye principle
48. System should be capable to integrate with signature pad or biometric device.
49. System should allow to create CIF for individual/corporate/minor/joint/senior citizen/employee/partnership/trust/society/proprietorship/entity etc.
50. System should allow to modify customer information after creation of CIF.
51. System should be able to capture connected roles/info during corporate customer on-boarding.
52. System should also allow to validate blacklist check for corporate customers.
53. System should support quick customer on-boarding.
54. System should have a flexibility to migrate the existing customer numbers as it is.
55. System should have a flexibility to provide a Old to New mapping that will allow new account records to be created with the new logic and algorithm and also to provide mapping for old and new account number.
56. System should have a provision to upload supporting documents and link it with respective specimen signature for corporate customer.
57. System should have provision to deactivate specimen signature data and maintain historical data changes including audit trail.
58. System should have the capability for identification of duplicate customer records such as passport number, ID card number, phone number, Business Registration Number, and Driving License etc and display error message accordingly.
59. System should allow to set up & maintain of third party type (e.g. brokers, agents, etc.) and contact information (e.g. title, name, address, telephone numbers, email address, etc.)
60. System should have a provision to link the third party to the customer /opportunity for commission calculation. For e.g. Commission calculation based on the number of members in the group or the total principal outstanding balance in the group member's accounts.
61. System should support customer 360 degree view which should display the customer's relationship portfolio - all customer details, all accounts that customer holds with the bank, along with average balances, net relationship value and split based on assets, liabilities, income and expenditure for that customer.
62. System should support wild card search or search name based on few literals.
63. System should have a provision to automatically flag up customers if the customer is no longer linked to any accounts after a period of time defined in the parameter.
64. System should have a provision to review the missing verification details with reason code.
65. System should have a provision to query upcoming expired date of signatures, ID numbers, Valuable papers, documents based on time range defined in the parameter.
66. System should allow to authorize Individual / corporate customer pending record.
67. System should have provision to send back the pending CIF record to maker for modification before authorization.
68. System should allow the Authorizer to reject the pending CIF before authorization of pending record
69. System should allow the user to modify the CIF record.
70. System should allow to authorize the pending modificaion CIF record.
71. System should allow to support decentralization for account opening.
72. System should support the customer to open an account via channel.
73. System should auto fill basic details like title, communication address, mobile number and contact details in case of existing customer.
74. System should allow the maker to edit the auto filled details in case of existing customer.
75. System should allow to maintain product code for each category of account.
76. System should allow to open quick account.
77. System should allow to open individual/joint/corporate/minor/senior citizen/employee accounts etc.
78. System should allow to capture OD facility at account level/product level.
79. System should support multiple types of accounts like savings account, current account, staff account etc which includes LCY account, FCY account, interest bearing account and non interest bearing account.
80. System should allow to select mode of operation as preferred by the customer at the time of Account Opening
81. System should allow to capture first name,middle name, last name in customer name field.
82. System should display error message in case any mandatory fields are not captured while account opening.
83. System should not allow to submit the record without capturing the mandatory field while account opening.
84. System should support generation of account number in IBAN format.
85. System should allow to capture authorized signatory combination details & signing power during account opening.
86. System should allow to capture guardian details for minor account.
87. System should allow to open joint account with two minors.
88. System should allow to open joint account with minor and guardian.
89. System should allow to perform dedupe check/black list check during account opening.
90. System should allow to transfer CASA/deposit account from one branch to other.
91. System should allow the maker to open the account for existing and new customers.
92. System should send notification to the customers over email/SMS along with the CIF and account number after authorization of Account opening record.
93. System should allow to set preferential interest rate by currency / by customer/by Account type /by Account and its validity period.
94. System should be able to waive charges for applicable customers.
95. System should be able to receive the initial deposit using cash or cheque or internal fund transfer or EFT.
96. System should not allow to open a zero balance account unless proper approval is obtained.
97. System should have a provision to validate operating instruction for every debit transaction.
98. System should allow the customers to opt for transaction alerts.
99. System should prompt to view signature while debiting the customers account.(cash, transfer,clearing)
100. System should have a restriction with the period to view/download historical statement.
101. System should have an option to capture and upload customer photos and attach the same to the signatories.
102. System should allow to activate eStatement option through KYC
103. System should allow to open NRE Accounts.
104. System should allow to open Savings Account with various sub types such as Normal /Children / Women etc
105. System should allow to open Joint account for Minor twins
106. System should allow to open acounts for Student/Staff/Ex Employee,Trust,Salaried Employee, Sole Proprietoship and Partnership firm
107. System should not allow to open an Account for Deceased / lunatic customers
108. System should allow to open Savings Account with Interest rate calculation based on the Daily EOD balance
109. System should allow to open CASA account where Interest is provided at Account Level
110. System should allow to modify Interest rate and applied at Account level for Savings account
111. System should allow to provide preferential rate of interest for BPL Staff.
112. System should allow to configure the preferential charges at product level, account level, account type and account sub type levels.
113. System should allow to modify various account details for CASA accounts
114. System should allow to recover different service charges on SALARY ACCOUNT (CASA)
115. System should allow to recover applicable service charges on Student ACCOUNT (CASA)
116. System should allow to collect different service charges for Students Account (CASA)
117. System should calculate and collect the Ledger fee for each transaction based on the transaction type as per the tariff parameters set for CASA Account
118. System should process and collect the Ledger fee from the respective Account
during the EOM process
119. System should have provision to pass applicable accounting entry for collection of Ledger Charges
120. System should always provide preference to the rates configured at Account level for Interest rate calculation.
121. System should not allow to re-open a Closed Account.
122. System should have a provision to record administrative data and business parameter setting which will be used in transaction such as tax and fee, interest rate/ remuneration, and minimum balance;Formula configuration (e.g. interest calculation formula, etc);Transaction code,Blocking Fund,Operational calendar & window time.
123. System should also have provision to capture various account attributes that are defined at the account level or the product level and Configurable account number structure.
124. System should have a provision for automated procedure/workflow to support the end-to-end corporate/consumer deposit account origination process including maker-checker role.
125. System should allow to have multiple account holders to the account (joint account) and multiple account officers/signatories for corporate accounts.
126. System should allow to validate Data format/Mandatory field check/Data duplication check based on combined primary keys and supporting document’s date validity(birth date, PID expiry date etc).
127. System should support customer-defined authority of the specimen owner such as:
128. Group A --> minimum of 2-3 of predetermined signature should exist to debit an account and based on transaction amount.
129. Group B --> any one of the predetermined signature should exist to debit an account with financial limit setup.
130. System should have a provision to recover special Fee/Charges rates for each customer segment/product/services (e.g. statement printing, card replacement, etc)/ transaction/ region/account level with tiered pricing table.
131. System should support to notify the bank whenever minor customer attains majority and block operation in the account till KYC documents are submitted.
132. System should have a provision to identify/update/maintain account relationships.
133. System should allow to maintain customer status such as Active,Inactive,Blocked and Dormant .
134. System should automatically change accounts into inactive status if no customer transactions occurs after a user-predefined period maintained in the parameter.
135. System should support the automatic closure of an account after a stipulated time as mentioned in the parameter (six months, one year, etc. This time is defined by user) upon approval by authorized personnel.
136. System should allow to automatically reactivate a dormant account after a customer performs certain transactions.
137. System should allow to automatically transfer interest of account types when customer changes account's activities
138. System should support to transfer dormant account balance via RTGS and the details should be sent via XBRL file to central bank as abandoned funds.
139. System should change the status of the account as “abandoned” when BPL transfers the funds to central bank.
140. System should support interest calculation based on the user defined rules configured in the parameter.
141. System should support to create, change and manage various interest computation methods.
142. System should have an provision to define an interest rates to products and by add criteria such as time limit with effective date (Both Back date and Future Date) , customer/account level for CASA account.
143. System should support Time-based interest calculation based on the interest rate defined in the parameter for CASA account - daily/monthly/quarterly/end of defined period.
144. System should be able to calculate daily interest for holiday or non-working day as defined in the parameter.
145. System should support to post Interest adjustments to the sub-ledger, general ledger.
146. System should support the following interest calculation methods:365/360,30/365,actual/360,actual/365,actual/actual.
147. System should have a feature to be used in the calculation of interest, including : rates/balance (Daily,Monthly,Average).
148. System should support Interest rates on a product which should be set or changed centrally with changes applied to all appropriate accounts.
149. System should support for calculation, accrual, pre-notify (where defined), application of interest and report debit(Wherever OD flag is YES and closing balance is in debit)/credit interest based on transactions processed up to EOD.
150. System should have the capability to calculate the total balances for one customer or a group of customers, and allow to revise the effective interest rate.
151. System should have an option to view Interest calculation details like day wise balances (old and new balance), interest calculated day wise (old and new balance) and Interest rate changes.
152. System should have an option to generate reports for CASA account opened fro range of dates.
153. System should be able to print customer advice in A5 template.
154. System should allow to authorize the pending CASA account opening record.
155. System should have provision to send back the pending CASA Account (Individual / Corporate / Minor / Joint / Employee etc) opening record to maker for modification before authorization.
156. System should allow the Authorizer to reject the pending CASA Account opening record before authorization
157. System should allow to authorize the pending modificaion CASA Account record.
158. System must allow to generate and export reports flexibly upon to input data sources, fully support types of report for reconciliation, inventory and administration such as list of transactions by types, summary report, reconciliation report by each user/whole branch.
159. System must allow to generate report such as cash proofing report that displays the position of cash in that branch, split denomination wise.
160. Provide a detailed report of the various pricing charged on a customer, waived on a customer.
161. System should allow the users to query transaction logs in multiple criteria.
Test cases for the other modules, please contact www.levarus.com.