Corporate Online Banking Solutions (COBS)
Corporate Online Banking Solutions (COBS), has a full range of services that enable banks and other financial institutions to offer their corporate clients the most robust, technically advanced, and efficient cash, treasury and trade finance management solutions over the web. Salient features of this product are as follow:
Broadly speaking, DPS Kuwait has developed the COBS solution in two segments.
The Inquiry module comprises the following significant elements involved in banking and treasury controls.
Global Financial Position
In this segment COBS provides our customer with a summarized and consolidated report with regard to the overall global positioning of every individual enterprises of the bank. This provides a holistic view of the customer’s positioning within the global business outfit.
Authorized bank personnel can view real-time account statements and have access to complete information including historical cash movement within accounts.
Through this COBS feature, customers can track the positioning of their cheques, adequately allowing them to determine remaining processing time.
Customers associated with Trade Financing can easily locate the position of their LC requests. In addition to this, they can also determine the current situation of any inbound LC requests.
Understanding the significance of having real-time knowledge with regard to LG tracking, COBS covers both in and outbound LG Tracking.
COBS addresses comprehensive details of this core banking activity. Through COBS, both bank and customers can attain loaning positions, loaning schedules, repayments status and outstanding reports. All these reports are generated in consolidated and summarized formats.
Its ability to provide smart solutions for secure online transactions, places COBS in prominent standing amongst other banking solutions.
It is recognized by DPS Kuwait that its Corporate Online Banking Solutions should be able to provide corporate customers of a bank with a complete range of online services. In light of this requirement, COBS is embedded with high class features for Trade Finance. A brief overview of these features is provided below:
Maintain Letter of Credit
Corporate customers of a bank can place issues of all new LC requests through web including:
- New LC Request
- Setup LC templates
- Amend LC request
- LC Locator
- Approved LC request tracker
Maintain Letter of Guarantee
LC and LG requests can be generated through the web. In addition to these requests, each customer and requester would be aware of the processing of his/her requests.
This ensures quick processing of all swift transfers including Foreign Currency transfers and transfers to banks overseas. This allows the customer to review exchange rates and process their request much quicker.
DPS Kuwait has designed COBS to be a utility solution for following online banking services:
Issuance of Cheque book
Bank customers can request the bank for issuance of cheque books and also to locate their requests.
COBS provides customers with the options to transfer Funds to other accounts online. COBS also ensures quicker transfer processing and provides customers with an immediate confirmation and supporting account statements.
COBS ensures that salaries for employees can be swiftly transferred to respective accounts on a single authenticated request. Since most salary transfers are for a large number of employees, it can be a lengthy activity; however, COBS provides all necessary measures for accurate transfers and provides real-time statements to the requester for confirmation.