Temenos Transact (T24) Core Banking System - Funds Transfer

Temenos Transact (T24) Core Banking System Series

What you'll learn

Overview of Transactions: Learn the general principles of financial transactions

Funds Transfer Application: Understand how money transfer transactions are processed in the T24 Core Banking system

Transaction Types: Discover the different types of transactions within T24

Transaction Fees: Explore the importance of service fees in funds transfer services

Accounting Entries: Learn how to accurately identify and query accounting entries for all types of transactions

Backdate and Forward Accounting: Understand how banks handle transactions with past or future effective dates

Preventing Duplicate Transactions: Gain insights into strategies and techniques for preventing duplicate transactions

Requirements

Basic Knowledge of Core Banking: A foundational understanding of core banking concepts and functions, such as customer accounts and financial transactions.

Familiarity with T24: It’s recommended that students have prior exposure to the Temenos Transact (T24) system, ideally through earlier modules or hands-on experience.

Understanding of Accounting Principles: Basic knowledge of accounting principles, including debit and credit balancing, will be beneficial

Description

Temenos Transact (T24) Funds Transfer is a comprehensive course that delves into one of the most essential functions of core banking systems: funds transfer. Temenos Transact, commonly referred to as T24, is one of the leading global solutions for core banking, widely used by banks and financial institutions worldwide. This course focuses on the funds transfer component, an integral part of any banking service.The course begins with an overview of transactions and introduces the principles of debit and credit balancing. From there, it moves into the fundamentals of transaction types in T24, each uniquely tailored to meet various banking needs. You will learn how funds are transferred between accounts, how different types of transactions are processed, and how to account for money transfers within the T24 system.We will explore key concepts such as transaction fees, where you'll understand how banks generate revenue from money transfer services. Additionally, you'll gain insights into accounting entries, the lifeblood of any transaction, understanding how debits and credits are posted in T24. You'll also tackle more advanced topics like backdate and forward accounting, which are crucial for processing transactions on past or future dates.By the end of this course, students will have a deep understanding of the funds transfer functionality in Temenos T24, equipping them with the knowledge to manage and operate within this powerful core banking system.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Temenos Transact (T24) Core Banking System - Funds Transfer

Lecture 2 Funds Transfer Overview

Lecture 3 Funds Transfer - Transaction Type

Lecture 4 Funds Transfer - Fee

Lecture 5 Funds Transfer - Accounting Entries

Lecture 6 Funds Transfer - Backdate & Forward Accounting

Lecture 7 Funds Transfer - Preventing Duplication

Banking Professionals,Aspiring Core Banking Specialists,Finance and Accounting Professionals,Students and Fresh Graduates: Those pursuing careers in banking, finance, or financial technology, who want to gain insights into a leading core banking solution like Temenos T24.