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PRODUCT - Functions

Fees and Commissions

The fees and commissions in the OLYMPIC Banking System are totally user-definable.  The bank can set up new tariffs for new transaction types it has created in the OLYMPIC parameter system, and is also free to manage its commission structures, tariffs, fees, exceptions at any time.

The OLYMPIC Banking System distinguishes between:

  • Fees and commissions per transaction types
  • Periodical billing (e.g. custody fees, management fees etc.)

The rules for the calculation of these fees and commissions are also defined in the parameter system.  New products can be set up by the bank itself, as well as its attribution, calculation, processing, accounting and workflow rules.

Fees and commissions per transaction types are generated automatically and posted in real-time to the related accounts.

The frequency of periodic billing is user-definable. Generated invoices are customisable and can be sent to the bank's client via multiple communication mechanisms.

Tariff management can be applied under general and/or specific conditions by:

  • legal entity (grouping several centres) such as e.g. a country
  • centre e.g. a country branch
  • parameterisable tariff class (definition of major categories) e.g. occupation, activity, profile and classification of clients by assets
  • specific condition per client

Each single client may be provided with customised tariff conditions.

Functions include:

  • management of client tariffs (input, control, display)
  • management of tariff reduction or increase by client
  • management of client structures
  • generation of tariffing conditions
  • control of the client typology linked with a tariffing structure
  • simulation of fees calculation

Fees and commissions - The fees and commissions in the OLYMPIC Banking System are totally user-definable