Deposit Management System (DMS)

The Versabanq Deposit Management System (DMS) is a Windows-based proprietary software program originally developed for Pacific & Western Bank of Canada to manage and report on its investment products such as guaranteed investment certificates, retirement savings plans, and daily interest savings accounts. The system was designed to provide maximum flexibility while incorporating strong internal control features and is scalable to any size organization. Pacific & Western Bank of Canada is a Schedule I Canadian Chartered Bank.

Features

• One-Stop Information Access Point. The system allows users to manage investment products, deposits, clients, cheques, and agents. Dozens of printable reports are available including investment details, cheques, savings account statements, official tax receipts and government forms. All this is available from one central access point.
• Customized Search Functionality. Users can easily search for data by using product, client, or agent information as search criteria through a common search interface.
• Operates in Real-Time. Additions and deletions to data within DMS take effect as soon as an authorized user saves an operation.
• Controlled Access. Access to various functionality is tightly controlled through defined individual users or groups that are easily managed by an administrator.
• Database Driven. Utilizes a SQL database to store and access data.
• Electronic Data Interchange. DMS allows for the interchange of data to and from other financial institutions and government departments. New investment purchases, bank statement details, investment confirmation reports, and government forms can be handled through the electronic interchange using industry standard or custom formats.
• Email Notifications. DMS can be configured to send e-mail notifications to concerned users when defined events occur during the life of a product, deposit or cheque.
• Status Management. The system tracks the status of a GIC, RSP, or Savings account from the initial creation through to the final reconciliation of the payout cheque.
• Custom Reports. Customized reports can be generated as frequently as daily based on user requirements, including comprehensive General Ledger and Subledger Reports, Agent and Client Portfolios, Trial Balances, Deposit Reports, Daily Logs, Bank of Canada and CDIC Reports, etc.
• Audit Trailing. The system tracks all changes in order to create an audit trail. DMS records the date, the user, and all fields changed with original and new values when an authorized user makes a change. DMS also provides a daily log facility to identify changes in the system and to show the complete historical details of investments.

Flexible interest payment terms and customizable interest rates allows you to provide the products you need. DMS also provides flexible cut off periods with accurate transaction postings. A comprehensive accounting report package includes detailed Subledger Postings by Product, Daily Posting Sheets, Export to Excel readable format, and Regulatory Reports.

Client-server application
Windows-based user interface

Client Requirements:
Windows 2000/XP

Server Requirements:
MS SQL-based backend
Hardware requirements dependent on the scale of the organization