Sovereign Module: Funding

Sovereign supports any form of Funding Account including Certificate of Deposit, Call Account, Term Deposit and Saving Accounts. Funding accounts may be tailored to the specific needs of any financial organization

Interest rates options provide maximum flexibility for controlling accounts. They may be maintained at either a Product or Account level, with base rates available if required. In addition to standard interest, penalty rates may be applied for early redemption or bonus interest applied to accounts meeting certain user defined criteria.

Maturity actions may be predefined and include the opportunity to pay out, reinvest, transfer to another account or add additional funds. An added feature is to have a combination of these options for the same redemption.

Full history of all transactions from start date is always available ensuring effective customer service.

All relevant letters are generated by Sovereign including confirmation letters, certificates, statements, maturity letters and tax advices.

‘Load and forget’. Once loaded the processing of a deposit account can be completely automated, including the pay out of interest and redemption processing.