SmartForex is client server application to computerise the foreign exchange (FOREX) operations of bank branch (Category 'B' and Category 'C'). It enables the bank to deal with the complexities of the business of foreign exchange with ease.
Objectives
To computerize all forex transaction of category 'B' and category 'C' type branches
To generate required statutory reports and other reports
To make the forex transactions simple and easy
Features
Accepting foreign currency from customers/non-customers
Accepting FC Traveller Cheques from customers/non-customers
Managing remittances (inward and outward foreign remittance)
Maintaining accounts in foreign currency (FCNR type accounts-mostly Term deposits)
Import/export bills handling
Packing Credit
Import Letters of Credit
Reserve Bank (RBI) returns (R returns) data generation
Foreign currency cash balances
Maintaining the stock of TCs, other security items like foreign DDs etc.,
Correspondent DD payment; maintaining advices received and limits for DD
Forex rates maintenance (Daily card rates) and Notional Rates
Margin maintenance for bills
Limits maintenance
Foreign currency loans
Deployment
Client server architecture on Oracle database. It can be deployed as an independent module irrespective of the main accounting system. Alternatively, it can be integrated to SmartBanker TBA Software.
