February 2023

Welcome to the February edition of the Woodcore monthly product update! Our ecosystem is constantly evolving, and as usual, we want to keep you informed of every change, update, and fixes that have taken place in our system in the month of February.

It’s been an interesting month, and a preview of these updates shows improvements in our reports, customer statements, and new additions to the client and employee creation field, amongst other areas of our system.

Read on to get all the details!!

New Features 🎉

Addition of country code field for customer and employee creation.

One of the notable features in our new release is the addition of a country code field to the customer and employee creation forms on the Core Banking Application (CBA). With this feature, when creating a customer or an employee, users can add the customer's country code to the customer's personal information using the country code list which contains a wide range of country codes. This will enable the users identify and sort out customers or employees based on their country code.

Customer Creation Form

To view or implement this addition on the customer module, follow the steps illustrated below:

On the navigation pane, select Business > Clients section.
Click on the New Client button on the right side of the screen as shown below:

Navigate to the Personal Informationsection, and select the customer’s country code from the dropdown list.

Note: When a country code is added ensure the first digit of the phone number is removed. This way, the phone number will be routed to the correct country and recipient.

In addition, a customer created before the addition of the country code can be edited to include their country fields.

Users can update the details of existing customers to include their country code, this would also automatically update the format with which the customer's mobile number is displayed to include the country code.

See the steps below:

On the Client module, select the customer you wish to update.
Next, click on the Profile section.
Enter the customer’s country code and click on the Update button.

Employee Creation Form

The country code feature is also implemented on the employee creation form. With this addition, you can add the country code of an employee when creating the employee on the CBA. This will ensure SMS messages are delivered to the correct recipient regardless of their location.

To implement this update on the employee module, follow the steps below:

On the navigation pane, select Users > Employee Management section
Click on the New Employee button on the right side of the screen as shown below:

Enter the employee’s information including the newly added Country code field.

Click on the Submit button to create a new employee.

Similarly, an existing employee profile can be updated to include the country code of the employee.

Follow the steps below to update an employee:

Navigate to the employee whose profile you want to update and click on the Edit button.
On the Country code for SMS field, select the employee’s country code from the dropdown.
Click on the Update button, you will receive a pop notification confirming the employee info has been updated.

Client's Savings Account: Download Customer's Transaction Receipt

This is an addition to the client module that will enable users download the receipt of every transaction that takes place in the customer's savings account. The transaction receipt contains the details of the specific transaction carried out in the savings account such as the transaction type if it is a debit or credit transaction, transaction date, amount, etc.

To perform this operation, in the Client module, select the customer > customer account. The customer account must have an active account status to enable you to view and download transactions receipt.

Next, click on the Transaction section on the savings account details page.

Navigate to the download icon on the Transaction page to download the account transaction receipt.

The user will be directed to a new tab that displays the transaction receipt.

Here is a sample of the transaction receipt.

Improvement 🚀

Detailed Anti-money laundering report with KYC information.

The Anti-money Laundering (AML) report has been upgraded to include customer’s KYC information in the generated report.

With the update the following information is now available on the AML report:

Customer’s name
Account number
Date of birth
Customer type
Email address etc.

This will enable users to provide the required customers’ identity information for regulatory compliance purposes.

An AML report will have such information as shown below:

In addition to the update on the AML report, a start and end date option has been added to the report generation form, this allows users to specify the date the report generation should begin and end.

Reports: Set date range added for the report generation

The new update has implemented a date range for which a report can be generated. This includes a start and end date. Through this, the report generation will begin from the specified “start date” and end at the specified “end date”.

For example, a user selects 2/5/2021 as a start date and 17/12/2022 as an end date. When the report is generated it will contain information from 2/5/2021 to 17/12/2022.

The date range improvement has been implemented in the following reports.

Anti-Money Laundering Report (AML)
Industry Customer Account Database (ICAD)
Current Account Savings Account(CASA)

Note: Report dates are formatted as mm/dd/yyyy.

View more details on the customer account statement

We are ensuring that our users have sufficient information on customers’ account transactions and balances over a specific period of time. With this in mind, the customer account statement has been expanded to include details such as bank details, address, account details, transaction summary, and so on.

Note: The customer's account must have an active account status to be able to generate the account statement.

To generate an account statement of an active account:

Navigate to Business > Clients section on the console.
Select an active account, you will be directed to the account details page.
Click the Take Action button on the right-side of the page.

Select Generate Statement on the modal list.

Next, enter the start and end date on which the statement should generation should begin and end.
The user will be directed to a new tab where the customer statement containing customer activity details is displayed.

Here is a sample of the new improved customer account statement.

Client module: Customer Transaction Narration

The customer's transaction details have been updated to include a narration field for each transaction. This will enable users add an informative description of each transaction they make on the system.

To view and implement this update, proceed as follows:

In the Client module, select the customer > customer account. The customer account must have an active account status.
Click on the Take Action button on the account details page.
Select Transfer fund to perform a transaction on the modal.
On the account transfer form, navigate to the Description field and add a transaction description (narration).

Users can view the transaction narration on the Transaction page.