Full Lifecycle Management
Deposits supports full lifecycle management for both standard and fixed-term deposit accounts.
Product characteristics can be handled at the account level, allowing you to respond to new market conditions or to attract new customers, without altering existing customers or working with advanced customer segmentation.
ApplicationWeb
Companies apply for a deposit account through ApplicationWeb, which you can add to your existing website.
The application is checked automatically against third-party sources: company registers, beneficial owners, signing rights, and PEP and sanctions lists. The applicant answers your Know Your Customer questions along the way. You can add a four-eyes check before any decision.
Once approved, the account number is reserved and the agreement is sent for digital signing by the company's authorised signatories. When it is signed, the account opens and can be used straight away. Rejected applicants are told in ApplicationWeb or by email.
Customer Portal
The customer logs in using BankID and gets access to the following functionality:
Overview
Overview of the account with details such as balance and interest rate.
Transactions
List of all credit and debit transactions.
Documents
Agreement documents.
Lifecycle Handling of Accounts
From account opening, the core solution will handle:
Credit and debit transactions
The generation of account statements
Calculation and bookkeeping of interest and withdrawal fees
Report generation (like The Norwegian Banks’ Guarantee Fund), as well as tax reporting
Automated GDPR
The complete lifecycle of the account
The core solution will also facilitate self-service via APIs against the customer portal based on an API first strategy.
Significant benefits
Here’s What Makes Our Solution Stand Out
Compliance
Onboarding process with KYC, AML and PEP compliance built in.
Onboarding
Automated account opening.
Computation
Calculation and capitalisation of interests and fees.
Controlled Deposits
Fixed term deposits including withdrawal restrictions.
Monitoring
Ongoing transaction monitoring in accordance with AML regulations.
Lifecycle Handling
Complete lifecycle handling of deposit accounts.