The specific core banking system for foreign banks of PASS Solution World Banking covers all relevant banking processes of a foreign bank in Germany: from the administration of accounts, loans, deposits and securities through letters of credit, collections and rembourse, the complete payment transactions, as well as money laundering prevention to financial accounting, regulatory reporting and risk management. Our intelligently designed core banking system for foreign banks adapts to changing circumstances on an ongoing basis and guarantees long-term investment and future security.
The PASS Foreign Banks Package can be easily obtained as software-as-a-service from the PASS banking data centers in Germany.
A Foreign Banks Package with two characteristics
Foreign banks in Germany can choose whether they want to use the complete solution package or only a part of it, e.g. if certain specialist modules from the parent company should continue to be used in Germany. Therefore, we offer our foreign banks solution in two tailor-made versions, which can be implemented easily and quickly: complete package Financials and flexible package Dynamics.
Individual needs of a foreign bank can be covered by the modular structure of our Foreign Banks System:
- Branch processing
- Regulatory reporting
- SEPA payment transactions
- International payment transactions
- Forward exchange dealing
- Money markets
- Credits, sureties, bills of exchange
- Cash desk
- Connection ATM
- Cost centers/profit center
- Eqipment bookkeeping
- Anti-Money Laundering
- Current accounts
- Master data
- Securities transactions
- Documentary international business
- Connection to customer-payment traffic systems
- Connection to account retrieval system (PASS in-house or third-party providers)
ACCOUNT RETRIEVAL SYSTEM
We operate our own account information service according to § 24c of the German Banking Act and § 93b of the General Fiscal Law. The Federal Financial Supervisory Authority (BaFin) and the Federal Central Tax Office (BZSt) have access to all relevant data on banking customers via these centers.
Our state-of-the-art technology framework technology framework ensures the adaptability, efficiency, reliability and openness required for a high-quality core banking system for foreign banks. The infrastructure is regularly checked to determine any potential for further improvement and we only incorporate new technologies into business solutions when they have been proven to provide sustainable benefits to users. This approach helps to ensure that the content is always up-to-date and complies with legal regulations while also protecting against extensions that are not necessary. This Foreign Banks System allows flexible collaboration for all parties involved without security risks.
A ONE-STOP SOLUTION
The Foreign Banks System Financials covers all business processes used by banks on the German market.
The individual requirements of an overseas bank can be met thanks to the modular structure of our foreign banks systems.
Continual updates and innovations are automatically rolled out to our customers and you decide when you want to update your solution.
Our general core banking system covers all the special requirements of a foreign bank. Here you will find further information of the PASS SolutionWorld Banking.
|Type of package||Complete package||Flexible package (a typical example)|
|Foreign exchange transactions|
|Account retrieval system|
|Export and import collection|
|Export and import letters of credit|
|Financial accounting/main accounting|
|Balance sheets (HGB, IFRS) *|
|Money laundering prevention|