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Interactive Funds Transfer Front-End System

Key Benefits:

bulletEliminates hundreds of spreadsheets used in the original funds transfer process.
bulletAllows staff to process more transactions with greater efficiency and accuracy.
bulletAutomatically creates journal entries that had required additional data entry.
bulletSaves transactions in a Microsoft Access database for historical retrieval and reporting.
bulletEasier to use, easier to train, more reliable than the original transfer process.
bulletAutomatically creates and sends customer debit/credit advices.
bulletUtilizes existing Microsoft software and integrates with faxing and e-mail packages.


    Our client, a large regional bank, came to SRI looking for a way to more efficiently front-end their existing funds transfer process. Transfers were being keyed into a myriad of different spreadsheets, printed, manually faxed and then keyed again into the bank's general ledger system. Knowledge of the existing system was limited to a few key personnel and was difficult to teach to others, making vacations and sick days a problem. Funds transfer transactions had to be recollected and consolidated into yet another spreadsheet for government reporting requirements. Our client was aware of commercially available software that could handle this process, but acquiring it would have been very costly and would have required years of ongoing software support fees.


    Software Resources, Inc., met with bank management and employees during an initial "discovery" phase of the project. After becoming very familiar with the various requirements of the funds transfer system, SRI designed the funds transfer front-end, which would replace the entire transfer creation, customer notification and historical tracking methods, as well as create the bank's daily journal entries. An ancillary benefit of the new system was the creation of payroll records for the state's school board employees....a tedious task that took days literally reduced to a few minutes. After surveying the client's existing network equipment and operating systems, SRI decided to develop the new system in Microsoft Access to leverage the value of currently licensed MS Office Pro capabilities and to interface with MS Outlook, which the bank was already using to its e-mail communications.


    In the new system, customer data, recurring transaction data and historical transaction data are collected in tables that are easily accessed and maintained using Access forms. Funds transfers are created online, awaiting verification and approval. MS Access security features limit transaction approval only to authorized employees, as required by banking regulations. After transactions are approved, customer debit/credit advices are automatically generated via any combination of printed report, fax or e-mail based upon customer preferences. At the same time, general ledger journal entries are created that post to the bank's general ledger system daily.  

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Last modified: 01/04/05