Credit Unions

The entire FORPOST architecture supports uninterrupted 24/7/365 operation.

The FORPOST system is convenient for the user. It is managed via menu commands and uses workstation software environment. The system does not depend on the language of the user; it enables to simultaneously operate in several languages. Thus it may be used in the representative agencies worldwide.

FORPOST supports all types of multi-currency operations. The European currency (EUR) is fully supported.

FORPOST basic package of functionality:

Functionality

FORPOST product / subsystem

Basic functions of the credit union activity

General Ledger

  • Creation and management of a chart of accounts

Customer Relationship Management

  • Registration and management of customers
  • Support of natural persons’ registry
  • Support of legal entities’ registry
  • Establishing and support of relations between persons and customers
  • Filling out of the customer’s dossier

Accounting

  • Opening and management of customers’ accounts
  • Opening and management of internal accounts
  • Opening and management of NOSTRO, VOSTRO, LORO accounts
  • Formation and sending of statements
  • Execution of batch (bulk) operations
  • Execution of standing orders

Anti-Money Laundering

  • Prevention of money laundering and financing of terrorists
  • Periodic formation and submission of the regulatory authority’s prevention registry

Payments and cash-desk

Payments

  • Transference of funds between customers’ accounts
  • Internal operations
  • Cashless conversion
  • Payment transfers in Lithuania

Cash management

  • Settings of the cash warehouse
  • Setting of cash-desks
  • Currency exchange operations

Pricing

  • Setting and management of commissions for operations
  • Setting and management of periodic commissions

Deposits

Deposits

  • System of deposit management

Loans

Loans

  • Contract registration and change of conditions
  • Formation of the payment schedule
  • Calculation of interest
  • Automated repayment of the loan and loan repayment at the initiative of the consumer
  • Agreement termination (at the initiative of the customer of the lender)
  • Account of overdue payments
  • Registration and accounting of penalties, fines, commissions
  • Notifying of customers regarding overdue payments

Loans Risk Management

  • Customer rating
  • Contract rating

Internet banking

Internet Banking Basic Edition

  • Viewing of accounts
  • Statement, account analysis, statement ordering
  • Opening of a new account
  • Payments into one’s own account
  • Local payment
  • Payment templates
  • List of beneficiaries
  • Currency exchange
  • List of operations
  • Loans (viewing of contracts)
  • Deposits (valid contracts)
  • Information and settings

Reporting

Reporting

  • Data warehouse
  • LB mandatory reporting

Integration with other systems

Integration Solutions

  • Import of currency rates
  • Interface with SAIS and PRDB
  • Other sources as needed

Securities

Securities

  • Main functions of securities’ products
  • Product “Off-exchange contract (OTC trade)”

FORPOST advanced package:

The advanced package embraces the functionality of the basic package and the additional products:

Functionality

FORPOST product / subsystem

Public utility payments

Public Utilities

  • Collection of funds from customers
  • Settlement with service providers
  • Submission of the information regarding the collected payments to service providers

E-invoicing (from 2016)

  • Settlements with providers by submitted invoices
  • Standing orders by submitted invoices without exceeding the set limit

Payments

Cross-border payments

Audit and control

Information control system (ICS)

  • Control and monitoring of actions

Loans

Application Servicing

  • Registration of customers’ applications
  • Evaluation of customers (evaluation in scores)
  • Taking and registration of the automated decision or the decision of a responsible person regarding the application
  • Automated contract registration

Internet banking

Internet Banking Advanced Edition

  • Instalments and payments
  • Standing orders
  • Payment cards
  • Applications
  • Loyalty programmes
  • E-gates

Payment cards

Cards Issuing

  • Opening and administration card contracts
  • Full management of card issuing process
  • Support of credit and debit cards
  • Support of chip and magnet-stripe cards
  • Management of operation limits
  • Servicing of already issued cards
  • Support and management of blocked cards
  • Debiting of commission fees
  • Customer notification

On-line Processing

  • On-line processing of cards

Off-line Processing

  • Off-line processing of cards

Salary Disbursement

  • Import of the list of employees
  • Crediting of the salary into the accounts in accordance with the submitted employer’s information
  • Registration of special employees’ charges

Cards Overdraft

  • Registration and management of overdraft contracts
  • Setting and control of overdraft limit
  • Calculation and debiting of the interest for the used overdraft from
  • Accounting of overdue payments, calculation of penalties

Loyalty encouragement system

System of encouraging loyalty

Reporting

Management the loan portfolio

Automated support of the account balance

Sweeps

 Guarantee

FORPOST*Guarantees product

  • Registration of both an agreement with a customer and guarantee data
  • Entering and adjustment of the limits considering the correspondent banks and the agreement as well as customs guarantees
  • Formation and calculation of provisions
  • Accounting of guarantees and payments
  • Reimbursement of the amount paid
  • Changes of guarantee conditions

IB Pay

 IB Pay system

  • The FORPOST IB Pay product is intended to conclude both bank and seller agreements
  • The FORPOST key repository is intended to manage seller digital certificates
  • FORPOST*Internet Banking applications are intended for the interface between the FORPOST*Internet Banking user and the seller