operate on mid-range software, which can be turnkey software-out of the box software customized for banking industry applications. Customer account applications provide unique primary key identifiers to link customer information to an account number assigned by the information system during a creation of the account.
Banks make the majority of their money through loans and investments. Through loan accounting software, bank personnel can process the forms and paperwork needed to make a decision on a customer's credit standing. The managerial side of a loan accounting application is where managers can access data to examine the bank loan portfolio, generate compliance checks for auditors and track loan loss reserve accounts. Loan origination software can interface with an accounting information system through most PC-based systems.
For banks in the mortgage industry, mortgage bank application modules create and maintain information according to mortgage loans provide by banks to its customers. The mortgage information system generates customer statements, tax statements for federal and state tax offices, and creates an escrow account for mortgages on the banks portfolio. On the general ledger, mortgage bank accounts consist of several sub-account layers reflecting taxes, actual value of the mortgage, assessed value of the mortgage and other variables.
The latest evolution in banking information systems is the web-based applications that support Internet banking. Internet banking programs interface with accounting information systems through a web server or portal with the website or page performing the role as a template or "point of access." Through secure web-servers, customers can perform actions, which can affect, update or change general ledger status. Management analyzes reports pertaining to Internet banking, such as how many customers are using the internet for deposits, transfers and accesses other banking products. Internet banking applications are...