Back Office for Bank Operations
Purpose and Applications
An intermediate operational back office is to be implemented in the bank in the following situations:
- increase in daily transaction volume,
- a larger volume of transaction needs to be processed,
- timely preparation of daily reports is required.
Modules and Services Used
- The following functions are transferred to the backQORT back office:
- on-line position keeping and performing internal analysis during the day;
- preparing daily reports for the clients;
- preparing reports for the financial market regulator;
- calculating personal income tax for a period;
- preparing daily trading limits for front office systems;
- verifying data against reports of primary brokers, exchanges, and clearing organisations;
- providing a single information warehouse, unification of information flows for all operations.
- The main back office of the bank retains the following functions:
- preparation of reports for the Central Bank;
- integration with the accounting system, depositary, other internal systems.
Problem — automation of back office operations in a bank, providing up-to-date information and reporting to clients and market regulators.
The functionality of the operational back office can be extended by additional modules.