General Ledger

The heart of Corniche is a flexible multiple-currency general ledger which automatically accounts for currency positions during FX movements.

You can run your own financials – balance sheet and income statement – consolidated to your base currency, or to any other currency.. Special reporting for slimline board-level financials and for jurisdiction reporting in a specific layout are provided.

Customer current, savings, loans and deposits accounts are linked to master accounts in the general ledger which is automatically updated as customer transactions occur.

A wide variety of reports are provided for viewing, printing, or exporting in popular formats.

Banking

Corniche supports a wide range of customer accounts for maximum product flexibility.

Current and money market accounts – These accounts are the entry and exit point for customer funds entering and leaving your institution. They can pay or earn interest. They can be topped up from savings accounts if their balances fall below a certain amount and they can be swept periodically to move unneeded funds to interest-bearing savings accounts.

Savings accounts – They offer advantages for longer term savings through balance-linked interest rates.

Call accounts – These accounts help the bank to manage its own deposits by attractively rewarding the customer with mid-rate interest, but importantly requiring a specific number of days notice of withdrawals.

Loan accounts – You can offer your clients a range loan types based on fixed, variable or balance-linked interest .

Term deposits – Classic term-based interest investment but with balance-linked interest so as to create products which the client can self-manage without staff intervention.

Commodities accounts – These accounts support digital or physical commodities and provide opportunities for your customers to participate in investment funds based on physical commodities.

Digital currency accounts – representing investment in cryptocurrencies.

Memo accounts – not linked to the general ledger – just placeholders for debit/credit lists.

Treasury

Treasury is the place where client funds enter and exit your control and management through current account receipts and payments.

Incoming payments, whether entered manually or arriving through a third-party interface, can be automatically reviewed and, if rules are met, posted to client accounts.

Outgoing payments can be similarly handled and may be automated for certain services. For example, Corniche supports linked direct debit accounts – where deposits or loan repayments can be requested from other banks and automatically credited.

Corniche supports a range of currency movement systems including Swedish Dataclearing, SEPA through Bank of Lithuania (CentroLink) and of course the now very common ISO 20022 payments.

You can also build your own payments integration using the Corniche API.

On-boarding

Corniche includes a fully automatic onboarding system for both savings and loan clients if all KYC and AML rules are met.

Corniche allows your prospective client to enter all information required to apply to become a new customer including upload of any number of documents.

The application system allows your staff to easily follow the process from a new application entering the system to final client approval or rejection, and can easily take action to intervene if needed.

The application system can easily be integrated with any front end or on-boarding system using the Corniche API’s.

Online banking

Corniche comes with an off-the-shelf online banking application for end-customer usage. It is directed at the typical needs of digitally aware people needing easy access to look up their balances, schedule standing orders and make transfers and payments.

Corniche also has a special API for either building a new or attaching to an existing secure online banking application which restricts the end-customer’s access in line with your financial regulations, branding and offerings.