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Arium Sharia Core Banking

Sharia Banks are ubiquitously popping out throughout Indonesia. The predominantly moslem nation are depending more and more towards sharia banking and moving from conventional banking, allowing sharia banking grow faster than any financial industry. These positive trends are marked with the numerous sharia banks and products surfacing in Indonesia.

It is imperative that for business to grow today, it should be supported by technology. Although the sharia bank and conventional banking system are alike, in reality, sharia banking has different principles than conventional banking. Because of that sharia’ bank will need information technology that is well suited to let them crafting product and services which are in accordance with the sharia principles timely.

arium sharia core banking

In order to support to growth of sharia financial industry and sharia banking in Indonesia, telkomsigma present Arium Sharia Core Banking solutions. ARIUM Sharia is a comprehensive sharia core banking solutions specifically designed to support sharia banking operations. ARIUM Sharia Cora Banking’s flexibilities and intuitive design are fully supports a sharia bank (BUS) or sharia products that are offered through conventional banks sharia business unit (UUS).

ARIUM Sharia Core Banking is a solution specially designed to deliver services to let organisations gain the following benefits:

Focus – Lets you focus more on your more high value activities while our system looks after your back office processes.

Cost – Comes with a variety package options & discounts resulting in cost efficiency as whole solution

Compliance – Compliance with Indonesia regulations which means risk & complexity reduction

Flexibility – with easy-to-generate products definition and define parameters, thus deliver efficiency in resource and business development

Organization would also gain benefits on :

Flexibility & Rapid Time to Market

Being a parameterized solution, the product management helps banks conveniently launch new product faster, wider market coverage and increase competitiveness.

24 x 7 Processing

Offering high levels of availability for large volumes of transaction.

Adoption of Modern, Open Standards, New Technology and Architecture

Bring scalability and agility while delivering process excellence to the business supporting consistent growth in both the number of users and the number of transaction performed.

Proven Methodology

With proven methodology and certified human resources, a successful implementation and conversion is assured. Existing clients will also gain benefits of a pre-ready migration tool from our AS-400 Platform.

Arium Sharia New & Improved Features

The new Arium Sharia Core Banking system is equipped with several tools to support Sharia Banks in Indonesia.

Indonesia Regulatory Reporting Tools
Generate text of CTR, DHN, SID, LHBU with just an easy click. The reports are also available in PDF and Microsoft Excel Formats

Indonesia Rahn/ Islamic Pawning Module
To manage gold & non-gold collaterals

Broad Coverage of Ready-to-Use Islamic Contract Modules
To manage bank services including” Mudharabah, Mudharabah Muqqayadah, Musyarakah, Murabahah, Salam, Istishna, Ijarah, IMBT, Qardh, Rahn, PRKS, Kafalah, Channeling/ Joint Financing, Sharia Overdraft Facilty (PRKS) Musyarakah Mutanaqisah.

General Features

Parameterized Solution

Being a parameterized solution, the product management helps banks conveniently launch new product faster, reach wider market coverage and increase competitiveness.

High availability with 24 x 7 Processing

Offering high levels of availability for large volumes of transaction.

Adoption of Modern, Open Standards, New Technology and Architecture

Bring scalability and agility to banks while delivering process excellence to the business and supporting consistent growth in both the number of users and the number of transaction performed.

Proven Methodology

With proven methodology and certified human resources, a successful implementation and conversion is assured. Existing clients will also benefits of a pre-ready migration tool from our AS-400 Platform.

Technology Overview

Platforms

ARIUM Sharia Core Banking is a Java web based system runs on Open Platform and using Service Oriented Architecture (SOA) for easy integration with surrounding system, it results a better user interface, better support, and better integration in the chosen system.

Database

ARIUM Sharia Core Banking uses database system for enterprise scale plus Hot Replication Feature, deliver industry leading performance, scalability, security, and reliability on a choice of clustered or single-servers are running windows, Linux, and UNIX.

Reporting Server

ARIUM Sharia Core Banking utilizes a powerful yet flexible and lightweight reporting server with powerful report design environment to build reports from data sources, format the look and feel and export to a wide range of formats.

Arium Sharia Banking Key Modules

Arium Sharia core banking contains the following modules:

Customer Management

• Specific customer type based input for individual, corporate, Bank & Internal Customer

• Quick & Comprehensive Customer Registration

• Integrated Duplicate Checking

• Integrated Blacklist Checking

• Integrated Customer Due Diligence

• Supports Joint Account

• Supports Customer-based Financing Quality

• Equipped with Address Input Assistance

• Provides comprehensive information through Customer Portfolio

Retail Module

• Flexible Product Definition

• Quick & Comprehensive Opening Account

• Supports Multi-level Nisbah Rate

• Provides Statement of Account

• Supports cheque, Giro and Other bank documents management to assist document request, distributions and usage tracking

• Supports withdrawal of Time Deposits Accounts

• Support Muqayadah Investment

• Support Mudharabah Investment (SIMA)

• Provides optimal Profit Sharing Adjustment

• Support Overdraft, Auto Save, Auto Close & Standing Instruction

Financing Module

• Flexible Product Definition Based on Islamic Contract

• Supports Financing Subsidy

• More detailed information & history

• Provides statement of Account

• Supports multiple settlement account (Auto Grab Fund)

• Comprehensive Facilities Management

• Maintainable Finance Object

• Support various depreciation method

• Comprehensive Collateral Maintenance

• Support Automatic Rollover

• Supports Revolving Facilities

• Supports Ijarah Repricing, Restructure, Charge off & Write Off

• Supports Early Termination, Partial Payment & Excess Payment.

Rahn

• Flexible Product Definition

• Flexible Collateral Type & Gold Price Setting

• More Detailed information & History

• Supports Multiple settlement accounts (Auto Grab Fund)

• Supports Automatic & Manual Rollover

• Flexible Fee Code Setting

• Supports multi-tiered Fee

• Easy Partial Redemption with Auto Re- Appraisal and Rollover

• Supports Collateral selling maintenance

Profit Sharing

• Flexible setting of Nisbah & Spread

• Provides Profit Sharing Simulations & Sharing Portion Adjustment

• Provides Profit Sharing Reservation

• Provides Profits Sharing Adjustment

Transaction & Accounting

• Flexible GL Rule Setting

• Supports Multi- Account, Account-to-GL, GL-to-GL Transaction

• Revaluation

Treasury

• Provides Coupon & Redemption Management

telkomsigma has been providing ICT Solutions since 1987 to financial business in Indonesia. In other words, telkomsigma has 20 years more experiences on serving financial and banking industry in Indonesia.

With those 20 years experiences, telkomsigma has successfully implemented core banking to 10 banks and provided IT Operation outsourcing to more than 20 banks.

Furthermore, telkomsigma’s Sharia Core Banking has been awarded :

1. The best APICTA in 2002
2. DSN- MUI Certified
3. ADOC Award for the best e-practices in 2005