CS Company has implemented one of the key projects for modernizing the ABS B2 – ensuring 24/7 system operation. The term “24/7” is clear to everyone: round-the-clock operation throughout the week without weekends or breaks, but what does this mean for banks? It means the availability of the central banking system in 24/7 mode. This will allow modernizing the entire IT landscape and technical process of the bank, offering clients new services in accordance with modern market requirements.
For your consideration – an overview of the capabilities, features, and advantages of the new functionality.
“Where’s the Power?” Capabilities and Advantages
The main capability of the development is instant operational day (OD) switching and the absence of monopoly mode during OD. This ensures constant system availability for any user. Including during day closure, the system is available for reading and writing by external systems and interfaces.
As a result of implementing the new development, a special ABS mode has emerged that allows simultaneous operation in two operational days: in the old (current OD being closed) and new (next OD being opened).
The recommended time for date switching is 24:00, while SEP day closure is performed after 24:00. The system provides the ability to set the time for automatic date switching.
The advantages of ABS B2 operating in 24/7 mode are obvious: the current operational day is not limited by the end of the bank’s working day and continues until the next OD opens or even simultaneously with it. This significantly extends the timeframe for performing operations in the operational day required by the client or bank.
Moreover, clients are accustomed to measuring time in calendar days rather than operational days. For instance, if a loan is repaid on the last day at 23:59, the client expects they made it on time. However, in regular operation mode, the actual repayment date depends on when the bank initiated the day closure task and when it was completed. The client cannot know in advance whether they met the regulations. B2 24/7 mode helps avoid such situations. Any task launched in the old day will be processed in it. Even after 24:00, when the new day is open, you can launch the necessary EOD task in the old day, and it will process correctly.
The 24/7 operation mode allows maximum elimination of the human factor during day switching. Direct participation of back-office employees is no longer required for this. Risks associated with untimely day opening and consequently the inability to serve clients in the morning are minimized. During day closure in 24/7 mode, it’s possible to disable certain end-of-day tasks, while restricting access to specific functionality, but the system as a whole remains available for operation.
Basic Operating Principles
Seamless day closure and simultaneous operation in two operational days involves opening a new OD without fully closing the old one.
Closing the old and opening the new OD is performed in ABS B2 using operations executed on the operational day settings form. These are new operations available only for 24/7 mode:
- work in the new OD is allowed while the old OD is open;
- the possibility of complete (final) closure of the old OD is verified;
- work in the old OD is prohibited when the new OD is open.
The old OD is closed if the end-of-day tasks (before and during closure) completed without errors. For correct operational day closure, a complex of special checks is performed. For example, various transactions and dates considered during these transactions are verified, the presence of various input/output files, messages, receipts and their statuses, rate fixation, transactions, presence of counterparties blocked by the financial monitoring system, and much more. In total, about 100 checks are performed to determine the possibility of closing the operational day.
Technical Features
Features of operation in the new “24/7 Day Closure” mode:
- 24/7 operation mode is enabled through special settings by the CS company’s development department.
- In 24/7 mode, the day opens instantly.
- Operation in 24/7 mode is carried out with complete absence of monopoly mode.
- During day closure in 24/7 mode, simultaneous user operation in old and new operational days is possible (regulated by permissions).
- During simultaneous operation in two ODs, the system controls fund movement in accounts for the next day. Debiting and executing transactions on day X is impossible if funds have been used in the next day X+1. Meanwhile, if funds are received in the next day X+1, they are available for debiting only in that day.
- Each user session works only in one operational day, which is determined at the moment of session connection (creation). In the current implementation, new session connections are performed on the day of opening the new OD. The operational day in which the session works does not change, and the session either completes fully or disconnects, but never independently switches to another operational day. Forced session switching for work in another operational day is performed normally using the corresponding operation and with necessary permissions.
- 24/7 operation mode does not create additional database load and does not require additional server capacity.
- In 24/7 operation mode, the system is available during data archiving (unlike operation in regular mode).
The presented functionality allows instant opening of a new operational day and closing of the current one in ABS B2 “24/7” operation mode, where the system is available to end users 24 hours a day, 7 days a week. Meanwhile, the complete absence of monopoly mode ensures access for any user to work. Simultaneous operation in old and new ODs is also possible. Additionally, day closure in parallel mode significantly reduces the time required for this process.
For more detailed information and functionality acquisition, please contact CS company’s client department: [email protected].
