Getting Started with Core Banking

After performing the installation process, Core Banking needs a series of configurations to be put in place before being ready for production. For example, it needs records for the main bank that uses the system, reconciliation accounts to be used for transactions, exchange rates information, holidays to be declared, specific settings for the Core Banking system parameters that indicate how the system should handle different situations or perform specific calculations, and so on.

This page is a step-by-step guide about what has to be set up, with links to detailed instructional pages related to each specific step. Follow through these steps after installing Core Banking and before declaring it ready for production.

Step	Operation	Notes
Setting Up Core Banking
1	Log into FintechOS Portal using a user with administrator rights	The user credentials for an administrator user are received from your FintechOS contact person. Insert the user name and the password associated with it to log into the FintechOS Portal.
2	Define your main bank	Using the Core Banking Operational > Bank menu, create a bank record to be the main bank. This record must have the Main Bank checkbox selected.
3	Manage your Core Banking system parameters	The system parameters used by Core Banking determine the behavior of all the contracts, transactions, limits, and other parts that make up your Core Banking system. See here the list of system parameters used by Core Banking, along with their descriptions.
4	Manage allocation methods	In Core Banking, allocation methods are used to determine the order in which credit items are prioritized when repaying loans, credit accounts, etc. The Allocation Method menu stores information about the details and the banking products using those specific definitions in their setup. Read here how to create and manage allocation methods.
5	Enter holidays for the desired countries	Public holidays for each country are used in the product definition for the calendar years over which the bank's current business is spread. The Holiday menu allows the creation of holiday records specific to the bank's country or organization. More details about setting the holiday records can be found here.
6	Define exchange rate types and enter exchange rate records	Exchange rates represent the value between the currencies of two countries on a given date. These rates are free-floating or fixed. The Exchange Rate Type menu allows users to add exchange rate types where there is a need to differentiate between exchange rates based on the currency market or business area. Learn how to create exchange rate records and how to manage exchange rate types in this guide's dedicated pages.
7	Define your loan classification	Banks classify their existing loan contracts based upon the days past due (DPD), the number of days passed since repayment due date without fully repaying the due amount. Since the provisions have an impact on the financial results of the bank, this is again driven by regulations and may vary in time or depending on country or region. Create loan classification records as described here.
8	Manage operation items specific for your business	Operation items are those items that relate to a bank's core business, such as all types of fees, commissions, principals, interests, advances, or penalty calculations. They can also be considered as balance types that add up to a certain deal or used in tracing what happened on a particular deal. Examples and information on creating operation item records are available on a dedicated page.
9	Manage transaction types	Any transfer of funds between two bank accounts is recorded as a transaction. The transaction types are predefined for usage within Core Banking processes. Read here the list of different types of transactions used in Core Banking.
10	Define other banks with whom your main bank has business relations and add external accounts	Using the Core Banking Operational > Bank menu, create bank records for the banking institutions with whom your main bank collaborates. Add external bank accounts within these banks.
11	Define reconciliation accounts	Reconciliation is an accounting process that compares two sets of records to check that figures are correct and in agreement. Learn here how to manage the reconciliation accounts records.
12	Create limit types for role-based limits	You can define new limit types that are based on roles associated to contract participants specific to your business, and use them throughout Core Banking with all the functionality of any other default limit type. Read here how to manage limit types.
13	Make sure a JobServer is up and running	In order to perform the processes within Core Banking, a JobServer must be up and running. Manage server jobs as described here. Learn here about Core Banking's scheduled jobs.
14	Create users and allocate them appropriate security roles	For appropriate access and rights within Core Banking, create users and allocate them appropriate Core Banking security roles. The following pages contain information related to this topic: Adding Users, Editing Users, Recovering Password and Security Roles.
15	Operational Ledger	The accounting information needed for ledger reports and other financial statements is managed via the Operational Ledger add-on. Access the Operation Ledger user guide for detailed information.
Setting Up Banking Products
1	Log into Innovation Studio using a user with administrator rights	The user credentials for an administrator user are received from your FintechOS contact person. Insert the user name and the password associated with it to log into the Innovation Studio.
2	Define banking agreements	Banking agreements are not relevant to be set up for Core Banking. They are used in digital journeys such as Mobile Retail Loan Origination.
3	Define product classifications	This functionality allows banks to set up classification items for their banking products offer. For more details, view the Banking Product Classification page.
4	Define your banking product hierarchy	The banking system has developed numerous products and services to tend to their customers' needs and to stay competitive ahead of time. To aid consultants and developers manage these products, Innovation Studio offers a dedicated menu, Banking Product Hierarchy, where a hierarchy can be built. Learn here how to manage this hierarchy.
5	Manage your banking schedule types	The Banking Schedule Types menu creates payment schedules, a quintessential part of a loan. Its menu items help you configure the installments, dates, and calculations. For details on managing banking schedule types, see this dedicated page.
6	Define and manage commissions and commission lists/ interests and interest lists	Interests and commissions are set up independently from the banking products. They are available in banking products in the form of interest lists or commission lists respectively, after they have been grouped based on their use. Read here detailed instructions about managing interest and commissions.
7	Define insurances and insurance lists	Insurances and insurance lists are defined at the banking product level, but they are not used within Core Banking processes at the moment.
8	Define discounts	Discounts are defined at the banking product level, but they are not used within Core Banking processes at the moment.
9	Define questions	Questions are not relevant to be set up for Core Banking. They are used in digital journeys such as Mobile Retail Loan Origination.
10	Manage your banking product filter	Banking product filters are defined at the banking product level, but they are not used within Core Banking processes at the moment.
11	Create and approve banking products	A great variety of banking products and hybrid products were created to offer the best service to a customer. Based on their rights, a user has access to the existing products. Learn about managing banking products on the dedicated pages.
Using Core Banking Capabilities
1	Log into FintechOS Portal using a user with an associated Core Banking security role	Insert the user name and the password associated with it to log into the FintechOS Portal.
2	Add customers and groups	Customers are at the core of the banking business. Learn how to create customer records and attach them to groups on this dedicated page.
3	Set up customer limits	Manage the limits available for the customers as described here.
4	Register collaterals	Collateral management is the method of granting, verifying and managing collateral transactions in order to reduce credit risk in unsecured financial transactions. It is an essential and integral part of any financial institution's risk and regulatory compliance framework. Learn here how to manage collateral records in Core Banking.
5	Create banking contracts	Core Banking allows banks to create contracts for their customers based on approvals, as described on this guide's dedicated Banking Contracts pages.
6	Create credit facilities	Credit facilities are groupings of multiple credit products that a customer has arranged with a bank under a single credit limit. Read here how to manage credit facility records.