Full Stack Financial Core System
A Financial Service Core System is the backbone of a regulated firm’s operations, managing and automating many of the key functions and processes related to managing its customers' accounts, transactions, and data.
The Financial Service Core System handles tasks such as account opening and maintenance, deposits and withdrawals, transfers, trades, and other critical banking functions. The goal of a the Financial Service Core System is to provide a centralized and efficient platform for managing the firm's financial operations, and to support the delivery of financial services to its customers.
The risk management capabilities of the Financial Service Core System helps to identify, assess, and prioritize risks that could potentially impact the firm's investments and financial performance. The software can analyze various types of risk such as market risk, AML related risk, credit risk, operational risk, and reputation risk. It can also help to monitor and measure the level of risk exposure and to provide insights into the potential impact of different risk scenarios. In summary, the risk management capabilities help to provide a comprehensive and centralized approach to managing risk, allowing regulated firms to make informed investment decisions, reduce the impact of potential losses, and improve overall financial performance.
The compliance capabilities of Financial Service Core System support many aspects of the compliance obligations and are automatized and optimized to handle large amounts of clients and trades in a secure manner. Through algorithms and machine learning, potential compliance-relevant issues are identified and alerts, tasks and workflows are automatically invoked to support the back-office employees of the regulated firm as much as possible. Besides handling all aspects of the client and trade lifecycle the Financial Service Core System also includes a document management system to make sure that documents, policies and procedures, legal opinions, guidance from regulators, legal documents, and the similar are versioned and in an audible way. These prompts are stored in the system and those documents are always available to the regulated firms employees.
The Financial Service Core System is combining the capabilities of a core banking system, a risk management system, compliance and regulatory reporting software, and a customer relationship management system (CRM) together in a proprietary solution. In addition to those proprietary parts, the Financial Service Core System is integrated into Odoo and works seamlessly with the available ERP modules, such as financial management (accounting, budgeting, financial reporting, tax management etc.), project management, human resource management, sales and marketing, procurement etc. The system is multi-client (e.g., several regulated firms within a group and many tied agents) and has a state-of-the-art web browser UI.