MultiCash Classic
The Electronic Banking system MultiCash provides an effective solution for corporate clients. The unique electronic Cash Management system ensures that electronic funds transfer can be made electronically, on the basis of full and timely information, using proven, state-of-the-art technology.
The MultiCash product range was developed for use by mid to large corporates working with a number of banks (in one or more countries), requiring integrated communication links alongside standardized interfaces for local payments as well as effective tools for decision-making and Cash Management.
- Flexibility based on a consistent modular design, ensuring the system can be adapted and extended to meet each customer's demands
- Security by means of encryption and Electronic Signature
- Multibanking by means of communication using the most widespread national and international communication standards
- International acceptance, including a multilingual interface (currently over 15 languages)
- Autodial of banks to provide up-to-date positions across all banks
- Extensive Cash Management and reporting options
- Sophisticated Cash Management, including liquidity planning, funds management and interest optimization tools
- Openness by means of flexible, freely defineable interfaces for routing to General Ledger and/or accounting systems
Cash Management
The functions Statements, Balances and Transactions are at the heart of the Cash Management system within MultiCash. For more extensive analysis and forecasting, a Value-dated driven report generator offers various options for presenting the available data received from the bank(s), and if required can include Plan data for a more detailed forecast. The add-on module "Cash Management Plus" provides a significant range of further options. Alongside liquidity overviews and daily funds management, special options for Zero Balancing schemes allow a corporate to evaluate concentration accounts and/or sub-accounts in a series of reports.
The option Statements is designed to match paper-based statements as provided by the banks. A zoom on each transaction enables additional information, such as the full payment details, references and ordering party details to be viewed. In addition, statements for banks which cannot be reached electronically can be entered manually, so that a full up-to-date picture across all bank accounts is possible.
The account currency is clearly displayed on each statement. This is particularly important in the Euro-zone, as transactions can be made both in local currency or Euro since 1.1.1999. For accounts converted from local currency to Euro, all data in the system are recalculated according to the predefined Euro rate. The orginal transaction and balance amounts can then be shown as "Equivalent amount".
The option Transactions provides more detailed information on the individual transactions, including (where relevant) intra-day items and advices. A wide range of cross-selection options allows a quick search for particular transactions and the generation of individually tailored reports.
A quick overview of the last ledger position on all accounts is available with the option Balances. Alternatively, the balance history of a particular account is available.
A Plan data feature allows cash flows known to the customer, e. g. expected incoming payments or liabilities to be included in Cash Management reports. Items expected on a regular basis can be set up as standing orders.
Sophisticated Cash Management
If payment modules from the MultiCash product family are being used, all transactions are automatically included as plan data as soon as they are prepared for sending to the bank(s). A Reconciliation option allows details collected from the bank(s), either intra-day or at close of business, to be matched against the Plan data automatically. An additional option allows any items not automatically reconciled to be matched manually.
Cash Management reporting is based on available positions as provided by value-dates. The user can determine a date range for the reports, which include a balance overview, a detailed breakdown per account or a summary overview. With "Cash Management Plus", additional data per account needed to provide a full liquidity analysis can be added by the user. This includes details on interest (debit and credit), credit lines and ceilings. All reports can be generated either per bank or per account. Options include either graphic overviews or a wide range of list-based reports.
Picture 1: Value-dated balances
An extensive Interest Management feature provides reports based on the interest details provided. Debit and credit interest and overdrafts can be shown per account and as a total. Detailed interest ladders can be generated, based on the most widely used international calculation methods.
At the heart of the enhanced cash manage-ment options is a Funds Management tool. In this case, the system uses all available information (current bank positions, plan data and interest details) to prompt transfers across all accounts to optimize interest.
The precise effect on the corporate's interest position in the selected currency is shown. After accepting or altering this prompt, the system will automatically create funds transfer instructions to the bank(s), either in paper or elec-tronic form. This step can be made for one or more currencies.
The transfer instructions are automatically in-cluded as plan data with the current date as expected value-date.
User Setup
A series of "Wizards" take the user step-by-step through the first installation of the software, prompting him to make all the necessary settings to start using the system at once.
Particularly useful examples are the setup of new Users, creation of User groups, Data profiles and of course customization by means of various System parameters as well as the setting of Comms parameters, which control communication between the customer and his bank(s).
The definition of User groups with a specified range of access rights facilitates the setup of new users.
The Multilinguality of the system is based on user choice. Each User decides in which language he wishes to view and work with the screens.
The selection of language is made when the user logs on to the program. If a module is not available in the required language, the system automatically selects a default language, which will be that of the core system.
In addition, a Standard user can be defined, on the basis of which individual access rights can be tailored.
The Functional profiles for specified options and sub-options can be easily set by means of a clear tree structure.
Data profiles set the range or data available for a user or user group to view and work with. The setup of data profiles, including predefined selections, is particularly useful if certain users (or groups of users) always produce the same reports or are responsible for specific banks, or work within certain amount limits.
Communication
For communication with the customer's bank(s), MultiCash supports a number of communication channels, based on accepted and audited standards. The internationally most widespread form is MCFT, which was built specifically for Electronic Banking purposes and includes all components necessary for secure communication, i. e. authentication by Electronic Signature, encryption, compression and format validation. The system is continually adapted to meet the highest available security standards and subjected to external audits. An additional feature of MCFT is a distributed Electronic Signature, allowing transactions to be authorized from separate locations, meeting the growing requirement for remote authorization among multinational corporations.
Alternative communication channels include BCS-FTAM and BCS-FTP (widely used in Germany by corporates) as well as BTX and HBCI (Homebanking solutions from the German market).
All communication links possible for each protocol are supported (e. g. X.25, ISDN, TCP/IP, modem-modem). This means communication by means of the Internet is fully integrated (for instance in MCFT, FTP and HBCI).
The File manager provides a single window over all flows of information and instructions between customer and bank. Even users making heavy usage of the system have full information on pending and completed transactions and can sign files and trigger communication from this central point.
All information for reference and audit trail purposes is available.
The information, presented in tabular form, includes the current status and summary information on file contents. Here files are signed (up to six signatures are possible) and communication can be started.
In addition, users requiring simple and direct communication to their bank(s) can set up and select Favourites, allowing communication to be made "at a mouse-click".