What Is CoreBOSS Retail

CoreBOSS (CoreBanking Operation Support System) Retail is an integrated retail banking system for servicing private individuals, which handles back-office and front-office functions for main sales channels, including Internet banking and it

Is a centralized system;
Implements the ability to service a client at any bank branch;
Is business process oriented;
Provides comprehensive functionality on a single screen;
Offers a high level of performance, unlimited scalability;
Supplies powerful tools for generating new operations and products without assistance;
Can minimize implementation time of a new product to several days;
Accumulates the best practices of the banking systems of Ukraine and Russia of the last 15 years;
Service-oriented architecture (SOA) certified. The system is ready for work at modern bank landscapes using bus architecture.

Implementation CoreBOSS Retail allows a bank to:

Decrease operational costs;
Reduce servicing time;
Create a unique center of retail business management;
Considerably reduce the number of highly qualified workers;
Extend the front office by creating a "virtual banking desk";
Increase the number of clients and number of operations due to remote client Internet self-service and by offering a wide range of retail bank products;
Create a unified processing area - unified business processes, products, operations;
Increase the speed of reaction to changing market conditions;
Deprive the main bank accounting system of handling a big number of accounts and products for private individuals;
Increase the share of non-cash payments for retail clients.

CoreBOSS Retail business architecture

The Core that holds key information: contractor - private individuals and corporate clients, bank products, operations, tariffs, accounts, etc.

Set of subsystems, each of which corresponds to a certain segment of the retail business.

The Core contains the key mechanisms that support its functions

Accounting, adjustment and execution of operating mechanisms;
Validator of financial documents that verifies such documents for integrity and consistency;
Generator of transactions (accounts);
Financial transaction processor;
Security mechanisms;
Adjustment and tasks of auto-run mechanisms, means of document creation;
Report generating.

In its turn, the Core consists of modules:

The Ledger - it is a solution for organizing financial activity, providing a high level of automation of financial information processing and the ability to take control over financial activity.

The clients - private individuals and corporate clients the bank is dealing with.

Tariff classifier – it is a tool for managing bank tariffs. It consists of tariff descriptions and tariff definitions.

Operation classifier – it is a tool for managing operations performed in the CoreBOSS Retail system, where an operation is considered as a sequence of actions taken (workflow). The classifier provides a means for adjusting and executing the operations.

Document circulation module – it is a solution that provides the ability to create, modify, and adjust documents by means of CoreBOSS Retail.

Task scheduler – it is a tool for planning and running automatic operations.

Cash service module – it is a solution for classifying financial operations in cash according to cash plan symbols and managing cash positions.

Currency exchange module – it is a solution for performing currency exchange, conversion, bank metals buy-sell, and encashment operations.

Currency control module – it is a solution that verifies if currency control meets the requirements of NBU currency control for operations of residents and non-residents.

Report module – it is a tool that provides a report on financial activity.

Power of attorney module – it is a solution for registering powers of attorney issued to private individuals for performing operations in CoreBOSS Retail on behalf of bank clients.

Security module – it is a tool that contains mechanisms for authentication and authorization of users, and data segregation.

CoreBOSS Retail contains the following subsystems:

Current accounts and call deposits;
Credits;
Deposits;
Cash service;
Workflow schedulers, calendars;
Payments;
Currency exchange;
Traveler’s cheques.

CoreBOSS Retail IT Benefits

Three-tier architecture

All Ukrainian competitors offer two-tier systems. Nowadays, the majority of the banks realize that these solutions do not fit the centralized model of a bank and a new solution is in demand. CoreBOSS Retail is a retail banking system with architecture developed in accordance with the classical three-tier "client-server" model. With this solution it is possible to create bank applications, including complex servicing of corporate clients. Thus, if a bank becomes acquainted with CoreBOSS Retail and learns to use it without outside assistance, it will understand that the solution can replace all old operations with core banking for corporate clients, minimizing and unifying the bank’s program landscape.

Modern industrial standards

CoreBOSS Retail is developed on the J2EE (Java2 Platform Enterprise Edition) standard and is implemented in SOA. The system is a finished element of the bank landscape of the future.

High level of scalability

CoreBOSS Retail works on the J2EE server base of the IBM WebSphere Application Server, which in turn has mature scalability capabilities. CoreBOSS Retail development is based on our patent model of server business logic development as a multi-channel system of mass service with non-synchronized request processing. This model provides for performing parallel computing and dynamic charge balancing. This mechanism is used when charge balancing capability performed by applications servers is exhausted.

The CoreBOSS Retail core architecture allows server capacities to be extended on demand without changing a single program string. This platform makes it possible to work efficiently on a client base of several million clients executing tens of millions financial operations every 24 hours.

Two types of client application

CoreBOSS Retail is delivered with two types of client applications:

Rich client - a desktop application with powerful capabilities developed on the Windows API basis;
WEB 2.0 client - developed on the browser basis.

Low requirements for connection channels

To allow bank clerks to work comfortably, the desktop client application requires 33 kps of carrying channel capacity. Thus, several clerks will be able to work on even a dial-up phone channel.

BAPI accessibility

Built according to service-oriented architecture, CoreBOSS Retail has a layer of requests of key business functions published in accordance with the Business Applications Programming Interface (BAPI).