The pan-African information and communications technology company, CWG Plc, has warned that there are certain due diligence that banks must complete before starting the End of Day and Start of Day (EOD / BOD) process. If the checks are not made, the company warned that the process would continue to fail and generate errors.
This was revealed by the CWG’s team leader, Finacle Support, Mr. Gerald Esekhegbe, during a virtual quarterly partner workshop.
The EOD / BOD process is one of the main activities carried out by fund managers in banks. It plays a key role in the banking system, as it prepares it for the next business day.
What the CWG says about EOD / BOD
Esekhegbe said, “In the EOD / BOD process, some pre-checks need to be done, otherwise it will continue to fail and generate errors.”
According to him, the validation checks performed by the EOD process are purely based on the HSVAM configuration, as any validation defined as blocking should always be considered before starting EOD operations.
âThis will help reduce downtime during EOD execution. Each branch can use the HSVALRPT menu to obtain a report on blocking and non-blocking validations. The branch must take the necessary actions on blocking validations that will help give an error-free EOD execution â, he advised.
How it works
Okeke John, another team leader, Finacle Support, CWG explained that before starting EOD, no transaction should be on entry status, stressing that banks should be notified if such a transaction exists and the steps to take.
He said, âBanks should reduce as much as possible the number of blocking jobs, which are present in BJS, because they will have a lower execution priority until the job is completed.
What does that mean
This implies that when the blocking task is running, no other task can run in parallel, thus extending the time required at the end of a step.
âA good way to do this is to move the jobs that are interdependent around the different stages of DOE. For example, instead of having a Savings Reservation Job and a Savings Application Job at HSOLCOP with the Reservation Job as a blocker (which means that the reservation must be completed before the start of the application ), we can make the Pre-Date Reservation Job change at ground level (HSCOD) and make it non-blocking, “ he said.
He added that banks should avoid overlapping jobs, which can cause locks on the account, leading to NEM slippage and resource overload.
He pointed out that overlapping jobs are jobs that run in parallel and access the same entity.
“Because the system will put a lock on the entity during processing, multiple processes accessing the account at the same time can cause locks on the database sometimes dragging the EOD process and causing jobs to fail.” he added.
Also, explaining the types of imbalances that typically occur with the Finacle solution, Mr. Oladipupo Kelani pointed out that there is a GST imbalance and an EAB imbalance.
He explained that the GST imbalance occurs when the general ledger aggregation does not reflect the true position of the entries, while the GST imbalance occurs when the general ledger aggregation does not reflect the true position. position of the entries.
According to Mr. Kelani, for a transaction to exist in the Finacle solution except for an anomaly, said transaction must be balanced.
He said, “This means that the sum of the transaction amount for the undeleted credit party transaction must equal the sum of the transaction amount for the unsuppressed debit party transaction. But where there is an anomaly in posting or other related processes, it will cause imbalance. “
He argued that the likely causes of GL imbalance range from system issues, multiple updates on a single transaction by multiple services, locks on tables, proxy posting of previously published transactions, and posting of unbalanced transactions. .
He also outlined the steps to be taken to identify and resolve LG imbalances. they identify the source of the imbalance, run traces to identify the affected records, perform a reconstruction / correction for the identified counts / GLs, and confirm that the difference is cleared.