Business & Corporate Enterprise Service

Interest accrual is the accumulation of interest on funds that are deposited into an interest-bearing account over a period. It can occur daily, monthly, quarterly, or annually depending on the account terms. The below service operations are used to retrieve the interest accrued for various time frames.

Sweeps are a movement of funds from one virtual account to another targeting to maintain the defined minimum or maximum amount of account balances. You can set up balance sweeps among virtual accounts that are part of the same structure and currency. You can also perform sweeps among accounts in a cash pool group.

Finances of a cash management structure has the following balance information.

Account details include displaying of transaction account summary and the details of the accounts individually under a bundle.

You can create a payment order for transferring the funds from an account to a facility arrangement account to repay the facility amount.

Loan disbursements refer to the drawdown of the loan principal, which can be in a single disbursement or tranches. The proceeds of the disbursal can be channelized into a customer or customer-authorised account available within the bank or externally. In the former case, loan disbursements can be automatic (using a settlement account) or manual. In the latter case, funds can be transferred to another bank using clearing and other payment mechanisms.

You can create a payment order to move funds from a loan account to a funding account by specifying the details such as currency, debit amount, initiation type, credit account, and so on.

You can link between a financial institution, or payee, and a drawdown account to facilitate the automatic collection of funds through direct debit.

Loan payoff is the pre-closure of a loan in a single payment before the actual maturity of the loan tenure. Payoff can also be called foreclosure, early closure, or early settlement of a loan account. Loan payoff involves functions like a simulation of the outstanding amount payable and a distinct function for payoff loans based on the simulation.