July 2022

📌 Exciting news!! We have some critical updates on the Woodcore SAAS banking system that we'd like to share with you!! Most important update of this issue is that we have a brand new user interface!!!!! Exciting right?? Read on to learn more about other updates!!

🎉🎉 New Features

Brand New User Interface 🚀

We are constantly improving Woodcore's outlook and user experience while considering feedback from our community of users. This all-around research and community feedback have led us into the implementation of the best user interface yet for a core banking platform!!!

The new look of the Woodcore console promises to give users a refreshing feel of calmness and ease while performing their various business operations.

New Woodcore Logo

In line with the recent updates we made to the Woodcore console and also following some internal research and brand restructuring, we've decided to upgrade our brand logo to a more captivating one.

Woodcore's new logo

Tier-level Configuration

The Tier Level configuration allows users to add tier-level rankings to their respective tenants. This makes it possible to increase the withdrawal limits for your customers with a higher tier rank configured.

You can now configure new tier levels on Woodcore by navigating to System Configs under the Utilities tab located in the navigation panel.

In the image above, click on the Tier card to navigate to the tier-level configuration page. On the page, you'll find all the already configured tiers which you can go ahead to Edit or Delete by clicking on their respective buttons.

The New Tier Level button enables you to create a new tier level on the CBA.

Input the required details and click on the Submit button to create a new Tier level.

Client Tiering

Adding a Tier Level to a Client's Account

On the creation of a new client, a tier level dropdown would be shown for the user to select a tier level for the particular client. After clicking on the submit button, the tier level field would be displayed on the client's profile.

Editing a Client's Tier Level

To edit a client's tier level, select the particular customer in the clients tab and go to the profile section of the customer. Select options and click on the Edit Tier button to update a client's tier level.

Select a new tier level to edit the customer's tier level and click on the Submit button to update.

🚀 Improvements

Seamlessly Navigate to Customer Accounts from the Account Module

This is a major improvement in the user experience as you navigate through the Woodcore console.

We've made it very easy for users to access all the accounts that are attached to a particular customer by selecting the customer accounts (Deposits or Loans) directly from the Account module on the navigation panel.

After clicking on the customer name, or account number on a particular row, all the customer accounts, either under the Deposits or Loan modules, are displayed in different tabs namely: Deposits, Fixed Deposit for the Deposits module, and loans for the Loan module.

Other customers' details like the signature, customer name, address, etc., are displayed in the Document and Profile tabs.

Report: General Ledger Report

The generation of General ledger reports is a new addition to the reporting module. Reports are important to any established organization as they give insight into operations within the system e.g., GL transactions, customer transactions, and many others.

The General Ledger report can be found in the Financial tab of the Reports module in the navigation panel as shown below:

The General Ledger report generates important information about a particular GL selected from the list of GLs available on a tenant and converts it to a .xlsx downloadable format.

After clicking on the General Ledger report as described above, proceed to input all the necessary details and click on the Run Report button to generate the report.

An example of a generated GL report is shown below:

Audit Trail: Sort Actions according to Made Date

The actions on the audit trail table can now be sorted according to the date (i.e. via the Made by Date parameter) as shown below.

This feature allows a user to view the audit trail from the newest to the oldest by filtering with the date.

Cancel Button on both Savings and Loan modification pages

Woodcore is now equipped with the ability to cancel ongoing changes/edits to loan and savings accounts that have been created and pending approval.

Earlier, this was not possible as initiated modifications on both savings and loan accounts could not be canceled and had to be submitted.

⛏ Fixes

Edit Interest Rate On Savings Account Creation

On the creation of a savings account, a user can now edit the interest rate associated with the particular savings account on the console.

Formerly, a NAN value was displayed which did not allow for editing.

Display Charges Created With the Loan Product on Loan Account Creation

Charges associated with the loan product are now displayed when a user initiates a loan account creation on the console.

What this means is that a user can now view the charges tied to a loan product at the point of creating a new loan account.

Fixed Deposit Account Creation

Formerly, on the creation of a Fixed Deposit Account, the system, i.e., the Woodcore console, would go blank after the Submit button is clicked.

This issue has now been fixed as a newly created fixed deposit account can now be submitted successfully.

Edit Fixed Deposit Product

On editing Fixed Deposit Products in the Utilities tab previously, the Woodcore console would go blank which would force a hard-restart thereby making a user loose their saved progress and new changes to the said fixed deposit product.

This bug has now been fixed and Fixed Deposit Products can now be edited and modified successfully without any downtime on the console.

Charges section: Savings account modification

Charges can now be added/edited to a Savings account that's been created but is still under the pending status.

Select a savings account as shown below:

Click on the Take Action button as shown below:

Next, click on the Add Charge button.

On selecting a specific savings account that's still in pending state, and clicking on the button, the Add Charge option is now shown so a charge can be added to the savings account application.

Add the Savings Charge in the modal as shown above and click on the Submit button to modify the savings account application.

Charges section: Loan account modification

Charges can now be added during a loan account creation and also modified for newly created loan accounts inpending state i.e. a loan account awaiting approval.

Click on the Take Action button

The specific loan account which is in the pending state can be selected and after clicking on the Take Action and Modify Application buttons respectively, a new charge can be added to the loan account application.

Finally, select the charge and click on the Submit button to save the changes.

Audit Trail: From date and To date search parameters

Audit trail module is now equipped with advanced search features which allow a user to search for specific actions that occurred between a specified period by using the From Date and To Date parameters to filter the search.