Skip to content

Deposit Management

In most systems, adding a new type of deposit means raising a change request with the software team. In Dara, a deposit category is a set of policies. The product specialist decides whether withdrawals are allowed from the category, whether partial holds are accepted, and what the per-withdrawal and daily limits are. An account opened in the category takes its number from the defined numbering pattern and a check digit, and gets its own dedicated detail account in the Financial Core. From then on, every deposit and withdrawal is a voucher posted to that detail account.

Book a demoAll solutions

Key capabilities

  1. 01About thirty policy switches for each deposit category
  2. 02Account numbers generated from a pattern and a check digit
  3. 03Joint ownership with ownership percentages, withdrawal rules and signatory groups
  4. 04Full or partial holds that reference a financing contract
  5. 05Nineteen operation codes, from account opening and deposits to fees and dormancy
  6. 06Statements and account turnover by date range, in the back office and the customer app
01

Policy-driven categories

An account's behavior is determined by its category. Each category has about thirty switches that set which operations are allowed on the account and within what limits. That way, a Qard al-Hasan current deposit, members' savings and a special account for a particular scheme each have a category of their own, and a new type is defined simply by creating a category with the right settings.

  • Withdrawal and deposit permissions
  • Acceptance of partial holds
  • Per-withdrawal and daily limits
  • Account numbering pattern
02

Joint ownership and signatory groups

An account with several owners records each owner's share as a percentage. Withdrawals can be governed by rules, for example requiring the signatures of all owners, or of any one member of the signatory group. These rules are stored on the account itself and checked whenever a withdrawal is made.

  • Each owner's share as a percentage
  • Withdrawal rules for joint accounts
  • Signatory groups
03

Holds and collateral

When a deposit is pledged as security for a loan, all or part of its balance is placed on hold, and the hold references the financing contract number. The teller can see how much is held and for which loan file, and when the loan is settled, the release is processed against that same reference. The withdrawable balance always equals the balance minus active holds.

  • Full or partial holds
  • Every hold linked to its contract
  • Available balance calculated from the Financial Core
04

Operations and statements

Nineteen operation codes cover all day-to-day account activity, from opening, deposits and withdrawals to fee deductions and dormant-account status changes. Statements and account turnover by date range are available in the back office and in the customer app alike, and both read from the same source.

  • Nineteen account operation codes
  • Statements by date range
  • The same view in the back office and the customer app

Deposit accounts in Dara are also connected to the Scoring & Eligibility module. If a fund or bank ties loan limits to deposit history, the daily balances of these accounts are converted into scores every night. Details are on the Scoring & Eligibility Models page.

Platform modules behind this solution

Financial Core

Financial Core

Holds each company's chart of accounts, detail levels, vouchers and fiscal periods. Every account balance on the platform is read from here, and other modules record their financial effect only by posting vouchers to it.

Qard al-Hasan Deposit

Finance & Payments

Deposit accounts from opening, with account numbers built from a numbering pattern and a check digit, through to joint ownership, collateral holds and customer statements. Each deposit category's behavior is set with policy switches.

Collateral

Credit

Collateral registration, versioned valuation, pledging and release. Collateral is released only when the status of the loan file allows it.

Scoring & Eligibility

Credit

Converts daily account balances into a score using the configured scoring method, then applies an eligibility policy to turn that score into a financing limit.

More 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

Scoring & Eligibility Models

Daily deposit balances are converted into scores every night, and an eligibility policy turns each score into a financing limit. Eleven scoring methods and four eligibility models are available.

  • Eleven scoring methods, from average daily balance to progressive tiers
  • Four eligibility models with rounding rules and minimum and maximum amounts
  • Each method's parameters held in a versioned policy, outside the code
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
Get in Touch

See this solution on demo data

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

Book a demoContact us