The MIMICS Core Processing Solution handles all core functions needed by a Bank or Credit Union, including:
· Customer Relationship Management (CRM)
· Online Banking
· Checking Accounts
· Teller Functionality
· Savings Accounts
· General Ledger/Accounting
· CDs/Fixed Deposits
· Loan Management
· Check Clearing
· Full Audit and Reporting
The MIMICS Customer Relationship Management (CRM) functionality, as part of the larger Core Processing Solution, can help your organization track, manage and build all aspects of customer relationships, from early sales stages through to complete customer maintenance. Full KYC tracking is included, and options for FATCA or CRS are available. Optional interfaces for AML or Watchlists can also be utilized.
Full Account Management functionality is included. Any number of Checking or Savings accounts can be opened for each customer, based on user-defined rules and limits. Different parameters can be set up for each account type. Defaults, such as Rate, Calendar, and Payment Frequency, can be set by Account Type, or overwritten per Customer. Account Receipts and Disbursements can be processed (by Cash, Check, ACH, Wire, SWIFT, RTGS, etc.). Funds can be transferred between accounts. Standing orders can be created to facilitate transfers and payments. Fixed Deposit/CD placements can be made, including interest calculation and compounding. Full approval processes/workflow can be utilized. Debit/Credit Card and ATM interfacing is available.
MIMICS can provide an Online Banking Portal, or can interface with a third-party portal. If MIMICS programs your online banking portal, we customize it to the look and feel of your existing website, using your logo and color scheme. The functionality provided can be tailored to what you would like to offer your customers, but can include account overviews, transaction history, transfer requests, disbursement requests, statement downloading and a Contact Us form. Typical website functionality like Forgot Password is also available.
The MIMICS Teller can organize, monitor and streamline your entire teller operation, including any number of Tills. This front-end module can facilitate any type of receipt or deposit, process disbursements or other types of payments and perform the full range of teller functions including check cashing, currency exchange, CD management, loan payments and remittances. Till balancing and audit are included.
The MIMICS General Ledger is a fully functioning general ledger system with standard financial reporting, budgeting, analysis and other features. Accounts Receivable and Accounts Payable functionality can be included. A journal entry feature allows the user to post entries that are always balanced. Entries from other modules are created according to flexible accounting rules defined by the user. Standard accounting reports can be selected at any time, and an optional report writer allows for the creation of your own reports. Reconciliation functionality is available as well.
The MIMICS Loan Management functionality allows you to originate new loans, save loan documents and track loan transactions. The system prints invoices, statements and a variety of reports. The loan parameters are very flexible. The term of the loan can be fixed or on-demand. Rates can be fixed, variable, or pegged to another rate. Interest can be simple or compounded. Payments can be interest-only or with principal pay-down. Payment schedules and compounding schedules are extensive. Payments can be based upon a projected amortization schedule, or it can be calculated and pro-rated at the time of payment without a fixed loan schedule. Past due tracking is included. Loans can be restructured.
The MIMICS Core Processing Solution also has many other features, and can be customized to your particular needs. The MIMICS Core Processing Solution also interfaces with other MIMICS modules seamlessly. Contact Sales at sales@mimic.com for more information or to schedule a demo.