Features

Loan module

Modularbank's loan module is our pride and joy. It is a fully automated lending platform that takes care of the entire loan process from applications and offerings to product management and handling day-to-day operations of contracts.

In addition to classical scheduled loans and lines of credit, it also covers more complex products. For example, combining scheduled loan and line of credit under one contract which is common practice for business loans and helps banks to be more flexible with their own customers.

Different loan products can be defined and modified up to a point that allows fine-tuning of related fees, interest rates and their conditions together with the option of campaigning.

The loan application processes can be accustomized to the needs of your organization. This includes:

  • Different background checks
  • Decision making
  • Creating offers based on product rules and customer data.

The module also allows to fully automate these day-to-day operations.

For example, it is easy to change and version contracts for covering different use cases such as payment holidays, premature repayments, changing schedules, interest rates and fees. It also applies for past dates so that schedules and other related components are recalculated automatically, thus fully supporting back value date.

Collateral module

Modularbank allows for registering different types of assets. Including:

  • Vehicles
  • Real estate
  • Financial assets
  • Commercial pledges
  • Crypto assets
  • Deposits
  • Sureties

The collateral module also manages their ownership, insurance and evaluation information. Modularbank takes care of managing the relationships between different contracts and assets making it easy to monitor and create reports. As some of these assets can be extremely volatile we support real-time asset valuation tracking so that you would always know if your risks are managed or not.

Current-account module

Current - account is the core and heart of Modularbank.It offers a multi- currency account together with all the necessities including:

  • IBAN generation
  • Managing accounts lifecycle
  • Managing reservations
  • Managing limits
  • Monitoring their usage.

Modularbank supports preparing, managing and booking transactions on accounts together with necessary currency conversions and custom booking options for handling different error cases.

Account module itself handles intrabank payments. Other types of payments, however, are initiated by account and sent to different payment modules for processing and routing payments to networks like SEPA and SWIFT. Modularbank offers flexible price list management, transaction and volume-based pricing and also good old monthly based fees.

Deposit module

Modularbank’s deposit module covers all deposit related operations from applying and opening a deposit contract to managing different products and the handling of contracts. Product management allows defining different flex and fix-term products with related fees and interest rates together with the option of campaigning on products.

Modularbank supports tailoring applications process to your unique business offering together with the relevant terrorist list, money origin and other mandatory checks. Deposit module automates situations like cancellation, partial repayments, premature termination and prolongation without back office involvement.

Finance module

Modularbank’s financial module generates general ledger entries from business transactions coming from different modules (current account, payments, loans, deposits etc) in real-time. The finance module lifts the weights on behalf of other modules and holds the relevant business logic of how and to what GL accounts transaction or business event need to be booked.

Every time the CFO opens the ledger, she will see an exact state of the business at that point of time.

Financial module plays well with different accounting, ERP and reporting services, making it possible to extract and exchange between the module and various solutions.

Customer registry

Customer registry is the central place to store your customers personal and financial data so that other modules would not have to duplicate it. This allows easier management and is also more effective from GDPR point of view as only one place is maintaining the data.

To avoid unnecessary duplication we recommend data integration with your own CRM.

Workflow engine

Our powerful workflow engine allows you to define unique and smooth business flows. It thus helps to differentiate from the market and optimise operating costs. Workflows can be built for onboarding and KYC, loan and deposit applications, collaterals registration, but also for different back-office procedures that involve multiple persons and benefit from automation.

Decision engine

The decision engine is part of the workflow engine and allows making complex decisions such as onboarding, money laundering, fraud and lending decisions. It is a set of business rules and decisions tables which can be extended with state of the art machine learning and AI models allowing to manage your risk in real-time.

Digital signatures

Uses DocuSign, the most widely-spread standard. Signicat, Signable, and other providers can also be used.

Payments

Modularbank comes with various payment modules. Our current account module offers multi-currency intrabank transfers between accounts managed by Modularbank, but all other connections to various payment rails are offered by specific modules.

One of these is the SEPA module which enables SEPA Credit transfer and SEPA Instant Credit Transfer related workflows and messages processing. It handles rejects, returns and errors and manages routing directory together with other relevant registries.

As SEPA handles only EURO payments then we normally implement separate modules to support other payment schemas such as SWIFT, BACS and Bankgiro, but also Transferwise, PayPal and others.

Modularbank's loan module is our pride and joy. It is a fully automated lending platform that takes care of the entire loan process from applications and offerings to product management and handling day-to-day operations of contracts.

In addition to classical scheduled loans and lines of credit, it also covers more complex products. For example, combining scheduled loan and line of credit under one contract which is common practice for business loans and helps banks to be more flexible with their own customers.

Different loan products can be defined and modified up to a point that allows fine-tuning of related fees, interest rates and their conditions together with the option of campaigning.

The loan application processes can be accustomized to the needs of your organization. This includes:

  • Different background checks
  • Decision making
  • Creating offers based on product rules and customer data.

The module also allows to fully automate these day-to-day operations.

For example, it is easy to change and version contracts for covering different use cases such as payment holidays, premature repayments, changing schedules, interest rates and fees. It also applies for past dates so that schedules and other related components are recalculated automatically, thus fully supporting back value date.

Modularbank allows for registering different types of assets. Including:

  • Vehicles
  • Real estate
  • Financial assets
  • Commercial pledges
  • Crypto assets
  • Deposits
  • Sureties

The collateral module also manages their ownership, insurance and evaluation information. Modularbank takes care of managing the relationships between different contracts and assets making it easy to monitor and create reports. As some of these assets can be extremely volatile we support real-time asset valuation tracking so that you would always know if your risks are managed or not.

Current - account is the core and heart of Modularbank.It offers a multi- currency account together with all the necessities including:

  • IBAN generation
  • Managing accounts lifecycle
  • Managing reservations
  • Managing limits
  • Monitoring their usage.

Modularbank supports preparing, managing and booking transactions on accounts together with necessary currency conversions and custom booking options for handling different error cases.

Account module itself handles intrabank payments. Other types of payments, however, are initiated by account and sent to different payment modules for processing and routing payments to networks like SEPA and SWIFT. Modularbank offers flexible price list management, transaction and volume-based pricing and also good old monthly based fees.

Modularbank’s deposit module covers all deposit related operations from applying and opening a deposit contract to managing different products and the handling of contracts. Product management allows defining different flex and fix-term products with related fees and interest rates together with the option of campaigning on products.

Modularbank supports tailoring applications process to your unique business offering together with the relevant terrorist list, money origin and other mandatory checks. Deposit module automates situations like cancellation, partial repayments, premature termination and prolongation without back office involvement.

Modularbank’s financial module generates general ledger entries from business transactions coming from different modules (current account, payments, loans, deposits etc) in real-time. The finance module lifts the weights on behalf of other modules and holds the relevant business logic of how and to what GL accounts transaction or business event need to be booked.

Every time the CFO opens the ledger, she will see an exact state of the business at that point of time.

Financial module plays well with different accounting, ERP and reporting services, making it possible to extract and exchange between the module and various solutions.

Customer registry is the central place to store your customers personal and financial data so that other modules would not have to duplicate it. This allows easier management and is also more effective from GDPR point of view as only one place is maintaining the data.

To avoid unnecessary duplication we recommend data integration with your own CRM.

Our powerful workflow engine allows you to define unique and smooth business flows. It thus helps to differentiate from the market and optimise operating costs. Workflows can be built for onboarding and KYC, loan and deposit applications, collaterals registration, but also for different back-office procedures that involve multiple persons and benefit from automation.

The decision engine is part of the workflow engine and allows making complex decisions such as onboarding, money laundering, fraud and lending decisions. It is a set of business rules and decisions tables which can be extended with state of the art machine learning and AI models allowing to manage your risk in real-time.

Uses DocuSign, the most widely-spread standard. Signicat, Signable, and other providers can also be used.

Modularbank comes with various payment modules. Our current account module offers multi-currency intrabank transfers between accounts managed by Modularbank, but all other connections to various payment rails are offered by specific modules.

One of these is the SEPA module which enables SEPA Credit transfer and SEPA Instant Credit Transfer related workflows and messages processing. It handles rejects, returns and errors and manages routing directory together with other relevant registries.

As SEPA handles only EURO payments then we normally implement separate modules to support other payment schemas such as SWIFT, BACS and Bankgiro, but also Transferwise, PayPal and others.

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