Temenos Transact (T24) Core Banking System - Funds Transfer

It delves into the critical functionality of core banking systems: funds transfer. Temenos Transact, also known as T24, is one of the biggest global solutions for core banking presently, applied by banks and financial institutions worldwide. This course shall specifically concentrate on the funds transfer component, an integral part of every banking service.

The course starts with an overview of transactions and the introduction of the principles of debit and credit balancing. From there, it moves into the basics of transaction types in T24; this is all uniquely tailored to meet various banking needs. You will learn about transfers between accounts, different types of transactions, and accounting for money transfers in the T24 system.

We will delve into important concepts like transaction fees, whereby you will learn how banks make money from the transfer of money services. Additionally, you will be exposed to accounting entries-the lifeblood of any transaction-how debits and credits are posted in T24. You will also take on more complex topics such as backdate and forward accounting, which is a must when processing transactions for dates that have already passed or dates that have not yet arrived.

At the end of this course, the students will understand the funds transfer functionality in Temenos T24 with full depth so that they are well equipped to manage and operate within this powerful core banking system.