The branch users can initiate transactions that are allowed at their respective branches to be authorized by appropriate user. Some of the operations are; booking of shares to be purchased, generating share purchase certificates, generating dividend warrants, etc.
In order to keep shareholders abreast with their status with the bank, the system allows automatic and manual alerts through sms and or emails. A share holder is alerted automatically with sms stating current share percentage after purchasing shares, after withdrawing dividends, after transferring shares successfully, etc. system users are able to announce shareholders' status manually at any point in time. This can initiate a cycle of share purchase even among already existing shareholders who usually want to maintain certain percentages of shares with the bank.
The system would be customized to generate all required reports in the exact formats stated. These reports could be printed, converted to pdf for electronic communication and or exported to a csv file for consideration. These would assist the bank to analyze share related transactions in less time than before.
The system records all share transactions by a share holder under the same account thereby allowing the system users to see all these transaction on a page. Also, this enables the printing and or sending of statements of share transactions to shareholders.
Within the networked environment, shareholders can get their share purchase certificates within same day of purchase. Users can print multiple share purchase certificates for different shareholders together according to selection choice. Same applies to dividend warrants for clearing dividends. These would all be in the exact format prescribed by the bank.
Declaring dividends is made easier in this system than ever. Shareholders are automatically allocated their dividends according to their shareholding percentage with the bank. Tax percentages are stated and used to calculate the dividend payable for every shareholder. System users are allowed to verify the correctness of the allocations before confirming the dividend declaration. If found to be different from expected, dividends declared could be nullified without affecting any shareholder account or sending alerts to shareholders.
Shares can easily be transferred from a shareholder to the other without troubles. All parties involved are alerted to avoid subsequent doubts and disputes. Also, the system serves shareholders who apply to repurchase shares with all dividends. Shares are purchased on behalf of these shareholders automatically after confirming dividend pay outs and they are respectively alerted via sms and or email.