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Credit Institutions & Cooperatives

Credit institutions and credit cooperatives usually operate through a network of branches, with a product range that runs from several deposit types to a variety of financing schemes. Each branch should see only its own data, while management needs the full picture. On top of that, arrears classification, provisioning and reporting to the supervisory authority have to be accurate and defensible. Dara meets these needs with one Financial Core and one access model.

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Challenges we hear about

  1. 01

    Branch-level access

    Each branch should see only its own cases and balances, while head office needs the full picture.

  2. 02

    Arrears and provisioning

    When arrears classification and provisioning are done by hand, the results arrive late and cannot be defended in an audit.

  3. 03

    Many kinds of collateral

    Cheques, promissory notes, real estate, deposits and bank guarantees each have their own procedure for registration, appraisal and release.

How Dara responds

  1. 01

    Multi-branch, with fine-grained permissions

    Branches, roles and the permission catalog are defined in the Users & Companies module, and work queues can be restricted to a branch or a geographic scope.

  2. 02

    Automatic arrears classification

    Unpaid installments move a loan file from past due through to written off, and loan-loss provisions are set aside at rates of 2%, 25% and 100%.

  3. 03

    Sixteen standard collateral types

    Each collateral type has its own registration procedure, versioned valuation and controlled release, and a deposit hold references the related financing contract.

Recommended solutions

01

Core Banking & Qard al-Hasan Fund

A multi-level chart of accounts, three-stage vouchers, fiscal periods and treasury in a single Financial Core. Deposits, financing, cards and wallets all read their balances from it.

  • Chart of accounts with up to six detail levels and conflict-free code allocation
  • Vouchers in three stages: draft, provisional and final
  • Consecutive, non-resettable voucher sequence numbers for each fiscal period
Solution details
02

Deposit Management

Each deposit category is defined by about thirty policy switches, from withdrawal permission and partial holds to daily limits. The balance lives in the Financial Core, and the account simply points to it.

  • About thirty policy switches for each deposit category
  • Account numbers generated from a pattern and a check digit
  • Joint ownership with ownership percentages, withdrawal rules and signatory groups
Solution details
03

Loan & Credit Product Builder

Define financing products through configuration: profit and penalty rates, installment start policy and eligible collateral, attached to one of fifteen Islamic contracts. Installment schedules are built on the Solar Hijri calendar.

  • Fifteen Islamic contracts, each with a dedicated calculator
  • Solar Hijri installment schedules with a fixed day of the month and three profit distribution methods
  • Repayments allocated to penalty, then profit, then principal, following the Central Bank of Iran's priority order
Solution details
04

Cards & Customers

Card credit lines on the Financial Core. Each card type is linked to an account heading, purchases are posted in two phases, and if the merchant's confirmation does not arrive, the credit is released automatically.

  • Single and bulk issuance, replacement cards, renewals, primary cards and card sharing
  • Physical card activation with a one-time password, plus PIN management
  • Two-phase purchases: a provisional voucher at purchase, a final voucher on confirmation
Solution details
05

Sources, Uses & Commitments Dashboard

A real-time picture of where the organization's money is, what it has been used for and what commitments sit against it, all read directly from the Financial Core with no parallel tables.

  • Real-time balances of the organization's cash desks and bank accounts
  • Sources: deposits by category, branch and customer
  • Uses: financing portfolio, classification and provisioning
Solution details
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Talk to us about your organization

In a demo session we walk through your organization's scenarios on Dara's demo environment and answer your technical and finance teams' questions.

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