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\\r\\nMIMICS Account Reconciliation Software will allow the tracking and reconciliation of any number of checking accounts at any number of different banks. Our software imports statements submitted from the banks in an importable format (ie. Excel, CSV, Text). Next, the software imports the activity that must be reconciled. This can be from any of your MIMICS Financial Software Software, or from a third party system (such as a third party General Ledger system). Imports from any MIMICS Software are automatically handled by the MIMICS Account Reconciliation Software. Imports from third party systems can be in any importable format (ie. Excel, CSV, Text). Our software will print reports listing the activity imported from the statements for verification.
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\\n Tracking Reconciliation Errors is easy because our software will compare the activity provided from the bank with the activity from in-house. Errors, such as No Match Found, Incorrect Date, Incorrect Debit Amount, and Incorrect Credit Amount are recorded, and can optionally be posted to a Temporary Suspense Account. Suspense Account entries can be categorized and printed, to facilitate the tracking down of the cause of the errors.
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\\n Once the error has been tracked and corrected, the entries may be moved from the Temporary Suspense Account back to the Checking Account in a reconciled state. For unresolved errors, the entries may be moved from the Temporary Suspense Account to a Permanent Suspense Account that will be brought forward to the next accounting period.
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\\n Reconciliation Reports can be printed in a Summary or Detail level, showing the Beginning Balance provided by the bank, the reconciled entries in the period, and remaining suspense account activity in the period, and any outstanding items, such as outstanding checks to be cleared. Comparing this activity to the final balance reported from the bank will provide a report of the amount out of balance.
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\\n If you would like more information about our products and services, please fill out our online request form.\\n
MIMICS Accounts Payable Software provides all of the functions needed by an Accounts Payable department.\\n Our software interfaces with the MIMICS General Ledger and other General Ledger systems.\\n It also interfaces with the MIMICS Purchasing Software or any other Purchase Order\\n System. Our software has features ranging from entering multiple types of invoices, verifying invoices entered, and processing\\n payments for the invoices entered, including printing checks or making direct deposits. Our software is an end-to-end\\n solution for payables that eliminates lengthy manual procedures. Contact us to find out how our software can handle all your needs.
\\n\\nA file of extensive vendor information, including tax information and alternative addresses, is maintained for correspondence,\\n payment information, and standard terms.
\\nThrough the Image Entry feature the user can receive scanned documents from remote locations of bills, receipts, and\\n invoices. The staff at the remote location scans the document, enters the invoice and the vendor numbers, and finally\\n transmits the information through a web browser or WAN to the centralized Accounts Payable department. The image\\n is archived and the data from the OCR document is transferred to the invoice form and saved to the database. If the\\n scanned document is not satisfactory it is returned to the sender.
\\nEnter invoices that are received along with the items purchased in the software. All parameters for payments are entered\\n with many coming from default settings and from the vendor file. Similarly, receipts may be entered for items already\\n received. Information entered is similar to bills. Cash purchases can be entered either in the Accounts Payable software\\n or the General Ledger software. Our Software takes into account any discounts offered.\\n
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You can enter Standard Invoices, Recurring Invoices, or Prepaid Invoices that amortize over time. Our software can\\n allocate invoices, such as marketing expenses, across branches of your company. The invoices can be split and tax\\n can be calculated.
Through our Departmental Approval feature our software gives you the option to require all entries to be approved by\\n a supervisor before payment. The Payment Status screen allows the user to:
\\nPayments can be generated automatically with the auto-pay feature. Manual or automatic pre-paid expenses can be set up\\n and accounted for. Payment can be made by check or ACH. Our software notifies you of any discounts due in time for\\n you to make the payment and take advantage of the discount. Set up installment payments for automatic payments in\\n the future. Payments can be made from any number of bank accounts.\\n
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Automatically import expense reports for employee payments. Payments can be made by check or ACH. Easily print or\\n view cash flow requirements with our Cash Flow Report. Quickly see a report on the status of the checks for tracking\\n purposes Check Register and Check Status Reports.\\n
Checks can be printed from the item payment screen or they can be batched for future printing. Checks can be cleared\\n quickly with a manual interface or with an automated interface. Through our Check Consolidation feature a single\\n check can be printed for multiple purchases with an itemization of the payments on the check stub. Our software can\\n assign check numbers (from a sequential batch of pre-printed checks) or it can create numbers for printing checks\\n on blank check stock. Alternatively, check numbers can be assigned by the user. Checks can be printed on pre-printed\\n checks or on blank check stock. Our software can print checks on a printer with micr toner and can print signatures.\\n They can be reprinted with the same or different check numbers if they are lost or destroyed. Checks can also be\\n printed manually in case of emergencies. Envelopes or mailing labels can be printed by our software.\\n
\\nMIMICS Accounts Receivable Software provides the features required by an Accounts Receivable department\\n that interfaces with the MIMICS General Ledger or exports to other general ledger systems.\\n Our software has features ranging from generating invoices, tracking received payments and outstanding invoices, handling\\n recurring bills, and tracking customer deposits and credits. Optionally our software can handle billing for time spent\\n on user-defined projects or services with our software keeping track of all of the time. There are a number of specialized\\n Accounts Receivable Reports that our software will generate for reviewing past transactions, invoice history and payment\\n history. This software is an end-to-end solution for receivables that eliminates lengthy manual procedures. Contact us to find out how our software can handle all your needs.
\\n\\n\\nInvoices can be printed in batch or immediately upon invoice generation. Invoice information can be added ad hoc\\n on a flexible invoice entry screen. Invoice numbers can be generated by our software or can be manually assigned.\\n Automatically generated numbers can be created according to a user-defined ID template.
\\nInvoices will be generated for customers with recurring invoices. The user can select the number of days in advance\\n to prepare and print the invoices. Manual invoices prepared ahead of time can be printed at the same time.
\\nOur software can track the amount of time spent on user-defined projects and services. The user “clocks in\\n and out” of these projects for specific customers during the day and the software keeps a detailed history\\n of the work. This time can be automatically billed to the customer based upon the rate that is set for the customer\\n and the employee.
\\nA file of extensive customer information, including alternative addresses, authorization codes and credit rating\\n information, is maintained for correspondence, billing reasons, and standard terms.
\\nSet up different invoicing schedules for the same customer. These recurring invoices can be of any schedule and for\\n any amount.
\\nOur software accepts payments from the customers and manages over and under-payments. The software will either keep\\n overpayments or will print a refund check as defined by the user. Finance charges can be set up for delinquent\\n bills.
\\nOur software provides a screen on which the user can view the status of all outstanding payments. The user can drill\\n down to specific items, customer information, and payment history.
\\nPast due invoices are flagged as such, and the number of days past due is tracked. Interest can accrue on the balance\\n past due, depending on the software options selected. Statistical reports can be printed to grouping the past\\n due items by the days past due. Past due notices can be produced by the software. The past due “buckets”\\n are user-defined.\\n
\\nInvoice stubs and payment checks may be scanned and the image will be archived for record keeping with the specific\\n invoice.
\\n\\nAfter invoices are printed, envelopes or mailing labels can be printed by our software. Alternatively, with the\\n
Our software will interface with the MIMICS General Ledger Software or a third\\n part GL System. Accounting Rules are defined by the user and are used by the software to generate the accounting\\n entries.
\\nAccount Report - All accounts and their parameters are available to verify billing information including\\n recurring invoice information.
\\nPayment History - The history of payments made can be printed for any time period and can be printed\\n by customer.
\\nPayments Due - This report shows all of the payments due for a user-specified period of time.
\\nInvoice History - Our software prints a history report of all past invoices based on payment status,\\n date range, account type, etc.
\\nMIMICS Back Office Software will process security purchases and sales, make the payments for the transactions,\\n and assist in the delivery of the securities. Our software handles a wide variety of investment instruments efficiently.\\n It calculates prices and yields, and the software prepares confirmations to your specifications. It automatically interfaces\\n with your general ledger, giving you up-to-date financial statements whenever you like. You can easily view the transactions\\n on-screen whenever you need more information. Contact us to find out how our software can handle\\n all your needs.
\\n\\n\\nMIMICS Back Office software includes fixed income securities, equities, and derivatives of fixed income\\n securities and equities. Mortgage backed securities and related products are also included. The software even handles\\n cash management products such as repos and fed funds. Optionally, commodities, foreign exchange, and other products\\n are processed.
\\n\\n Each security type is treated in its own unique way in order to give you the maximum flexibility in output whether in the\\n form of GL or DDA entries or confirmations and reports.
\\n\\n The software saves the securities entered and the appropriate security information (e.g. description, rate, maturity date,\\n etc.) will remain on file. The security information can be retrieved by entering the CUSIP or ISIN number, and the\\n security information will display automatically.\\n
\\nOnce a trade purchase is entered, it goes into inventory only to be reduced by sales or maturity. At the time of entering\\n the purchases, reoffer prices can be entered for printing on the inventory reports. Traders can view the reports\\n to see current pricing.\\n
\\n\\n When selling a security, our software will display the remaining inventory for the appropriate CUSIP/ISIN number allowing\\n the operator to select the purchase that is to be sold. This allows the user to determine which costing method (e.g.\\n LIFO, FIFO, etc.) must be used.\\n
\\n\\n All of the information regarding purchases, sales, payments and deliveries are recorded on Customer Activity Records and\\n they can be printed in the customer statement form. This information is also recorded on Security Activity Records\\n (Position Records) needed for compliance.\\n
\\n\\n Every transaction that takes place is added to the Audit File with a time and date stamp. The audit trail identifies the\\n user making the update. In addition, every transaction is added to the History File. The history is available to\\n you for printing, displaying or exporting. You can easily print reports for management or for your own use. Equally\\n as easy is displaying information on the screen. You can report information from the History file to databases, spreadsheets\\n or word processors.\\n
\\nFor preparing confirmations, our software maintains the list of sales representatives, delivery instructions, payment\\n instructions and customer demographic data. The payment and delivery instructions are user-defined. The default instructions\\n for customers can be overridden by the use of another standard instruction or by typing in a unique instruction.\\n This information can be updated by the operator as needed.
\\nAfter the trades are entered, they may be delivered or received in various methods on the appropriate dates. If securities\\n are not delivered by the settlement date, our software will report accordingly on the Fails Report.\\n
\\n\\n The software will allow full or partial payments. Payments that are close enough can have the difference washed.\\n
\\nMIMICS Back Office will handle your accounting based on your accounting requirements. Both trade date\\n and settlement date accounting are available. The software will provide accounting reports for domestic as well as\\n foreign offices. Information from this procedures will determine the accounting entries, and it will print on the\\n Settlement Date Blotter and Settlement Date Inventory report. Reporting is designed for full compliance. The entries\\n can be passed directly to your GL and DDA system.\\n
\\n\\n As the trade is completed, sales commissions are calculated and commission reports can be printed later.
\\n\\n 1099 processing is streamlined with our software handling the majority of the processing automatically. 1099s are prepared\\n to be printed on paper forms or they can be written to electronic files in IRS format. Other equivalent sovereign\\n tax forms can be created.
\\nMIMICS Bond Swap Software enables the swapping of bonds, including at a loss for tax purposes. The swap\\n will determine the time it will take to recover the income given up from the group of bonds that may be replaced (Held\\n Bonds) by the income from the bonds to be purchased. The swap takes into account the applicable tax rates, the profit\\n or loss on the bonds currently being held, and the bond life of the two groups. Contact us to find out how our software can handle all your needs.
\\n\\n\\nMIMICS Bond Swap Software provides a flexible method to design swaps. The bonds you are considering\\n replacing – the Held bonds – can be either taxable issues or non-taxable. You can consider one or more bonds in your\\n Held bond portfolio if you interface with the MIMICS Portfolio Management Software.\\n Otherwise, you can enter the parameters of the bonds to be swapped out as they occur. The program will calculate\\n the profit or loss of the Held bonds on a straight-line or constant yield basis, or you can plug your own book value\\n of the bond.
\\nYou can also have any number of bonds on the purchase side. These bonds can also be taxable or non-taxable.\\n
\\nThe swap program will calculate prices and yields on both the held side and the purchase side so you do not have to calculate\\n dollar prices on one system and plug them into the swap program.
\\nAfter you enter the swap, our software can print a statement that will list the parameters of the swap, the profit or\\n loss of the swap, and the time to recover if there is a loss. It will also graph the recovery line.\\n
\\nMIMICS Bond Swap Software user interface is easy to use with all of the data entered and all of the\\n results presented on one screen. The results can be printed for your own use and a customized form can be printed\\n to be sent to a customer. Customer information, Security (CUSIP) information, and the swaps themselves are saved\\n for future reference.
\\nMIMICS Certificate of Deposit Custody Software manages the custodial CD holdings of your customers from\\n the point the order is posted on the website. Interest Bearing and Discount CDs are handled. Our software tracks multiple\\n levels of status of the CDs, from Pending to Approved, based on different compliance issues needed to complete the transaction.\\n
\\nOur software projects the interest to be received from the institutions and projects the interest to be paid to your\\n customers. It also calculates the spread in rates, and determines the portion of interest that you take, and the portion\\n to amortize the broker commission. Contact us to find out how our software can handle your needs.
\\n\\n\\nInterest can be calculated on any calendar and can be paid at any frequency. Our software facilitates payment processing\\n by check, by ACH to your customers’ DDA account, or by wire. Checks can be printed on blank check stock or pre-printed\\n check stock based on your specifications. Credit advices and reports can be printed from our software.\\n
\\nA sinking fund account manages the payments received from the issuer that can then be distributed to the holders. This\\n account can be handled by CD or by issuer.\\n
\\nIf your procedures require it, the initial entry of new holder purchases can be entered by brokers at a remote site.\\n Otherwise, they can be entered locally. Matched Trades can be entered, where there is a 1-to-1 relationship between\\n the Depository and the Investor. Block Trades can also be entered, where there is a 1-to-many relationship between\\n the Depository and Investors. Trades (Matched or Block) can be simple interest bearing, compound interest, or can\\n be discounted. All trades entered by brokers pass by a bank employee for verification before final posting. Custody\\n receipts can then be produced.\\n
\\nPayments are received from the Issuer and passed through to the holders. You can have the software mature securities\\n automatically on maturity date or they can be matured manually.\\n
\\nOur software will let you know if the CD is pledged.
\\nFees and Spreads can be calculated, including Custodial Fees, Broker Fees, and Early Withdrawal Penalties.\\n
\\nCash paid to the brokers can be a flat amount, a percent of the purchased amount, or according to another scheme. They\\n can be paid at once or can be amortized over a period of time.\\n
\\nUsing the web interface, investor lookups can allow a holder to check on the status\\n of his or her holdings. Broker lookups can allow brokers to check on their sales and their commissions. Input screens\\n can also allow remote data entry by brokers if you do not have a pre-existing network set up.
\\n1099 entries are made throughout the year and are ready for printing for customers and post to the IRS electronic format\\n file.\\n
\\nMIMICS Certificate of Deposit Issuance Software provides the functions of paying agent, registrar, and transfer agent for certificates of deposit. Interest can be simple or compounded and can pay and compound according to a variety of schedules. On the customer side, holdings are tracked, principal and interest are distributed, and 1099s are prepared. On the issuer side, the obligation to the holders is accounted for by the system.
\\nMIMICS Certificate of Deposit Issuance System allows easy issuance of certificates to holders. It allows them to make deposits and withdrawals, and recalculates interest accordingly.
\\nThe system contains all the procedures of paying agent for the securities. Interest payments can be made by check or direct deposit. Checks can be printed on blank safety stock or in any other format. A check register is updated with new payments by check and the register can be maintained by entering cleared or voided checks.
\\nIf acting in a Trust capacity, payments can be received and applied to the balance of a certificate or customer's account to be used for disbursing payments.
\\nRollovers with or without changes to the parameters of the CD can be made automatically or manually.
\\nCommissions are calculated automatically and payments are distributed to the salespeople.
\\nAccounting entries can be created for every event occurring in the system according to accounting rules set up specifically for you. The rules can be changed at any time by the user.
\\nOptional features such as Web Enabling for Customer Access are also available.
\\nIf you would like more information about our products and services, please fill out our online request form.
\\n\\n\\nThis is a subset of the Currency Management Software, and tracks the\\n vault contents of Numismatic (Collectors') Currency Items, including the categories of General Stock, Consignment Stock\\n (available for sale), Redeemed Stock, Gratis Stock (items to be given as gifts), and Archive Stock (the Bank's Collection).\\n It allows for the entry of requests for numismatic items for sale or as gifts, and tracks the process of their removal\\n from the vault and delivery to the proper department, with full audit capabilities.
\\n\\n\\nMIMICS Treasury Bill Management Software handles the management of the Treasury Bills and Notes from the\\n Auction to their Maturity. Our standard software can be customized to your institution's exact needs. We work closely\\n with you to build a software solution that accommodates your institution's unique operations and statement requirements.
\\n\\n The Treasury Bill Management Software facilitates the Auction process by handling the applications received, allocating the\\n applications and producing letters of acceptance or rejection. After the auction process, the software maintains and\\n tracks the holdings. Accretion is calculated. Maturity payments are processed. Any number of reports can be printed.\\n Contact us to find out how our software can\\n handle all your needs.
\\n\\n\\nOur software allows the user to easily track the auction process. The auction is declared, including setting some default\\n parameters such as the maximum discount. Full applicant information is stored, including names, addresses, contact\\n information, etc. On the Tender Date, all application information can be loaded into the software. Once complete,\\n the user needs only press a button for the software to allocate the applications appropriately. The allocation can\\n be verified before finalizing. Certain values are calculated, such as the Average Discount Rate, Average Tender Rate,\\n Market Rate and Re-Discount Rate. Upon finalizing, customized letters can be produced listing the amount accepted\\n and the discount rate, or if the application did not meet the minimum accepted. The accepted applications at that\\n point are converted into holdings.\\n
\\nThe holdings of each investor are tracked through the software. Reports can be generated in many layouts, including As-Of\\n Reports. Transfers can be made and tracked. The accretion and accruals are calculated on a daily basis. Customer\\n statements can be produced.\\n
\\nMaturities Due Reports can be generated. Maturity processing is a simple process of choosing the date range for which\\n you desire to process the maturities and pressing a button. The maturities will flag the holdings as being matured,\\n but will retain their history. Maturity payments can be made by check, direct deposit, or wire.
\\nWe work closely with you to establish the accounting rules required by your institution. Our software can automatically\\n generate accounting entries from your daily operations and create a daily or real-time export file.\\n
\\nThe Treasury Bill Management Software easily interfaces with external systems allowing you to import or export current\\n data and information.
\\nAn extensive list of reports is included in the software. They include detailed information about auction allocation, holdings,\\n and maturities due.\\n
\\n\"","export default \"\\n\\n\\nMIMICS Commercial Paper Issuance Software is designed to eliminate many of the cumbersome and often repetitive\\n bookkeeping chores associated with the issuance of primary market Commercial Paper. Our software offers the issuing agent\\n the flexibility needed to handle transactions on behalf of different issuers who may all use different certificate formats.\\n This system can also handle book entry transactions by issuing only a receipt/confirmation for the transaction. Our software\\n handles both foreign & domestic securities. Contact us to find out how our software can handle all your needs.
\\n\\n\\nA table containing all information on any number of corporations is used to maintain the multiple companies’ addresses,\\n tax IDs, bank routing numbers, and other data. A company can issue any number of commercial paper issues. The software\\n system maintains an issuer file that keeps specific information necessary to process transactions for each issuer.\\n Customer information is also maintained centrally in a customer account information file. Alternatively, the software\\n will interface with the MIMICS CRM Software System that contains additional\\n information on customers. The information includes the customer’s name, address, tax ID number, payee, trustee, 1099\\n requirements, and other account information.
\\nOur software calculates both interest bearing and discounted paper. Interest is calculated to maturity and, if the certificate\\n is interest bearing, it is displayed on the face of the certificate. A daily reconciliation report is printed showing\\n certificate dispositions. Maturity proceeds are disbursed to holders of record and corresponding entries are made\\n to issuer accounts.\\n
\\n\\n Interest rates can be fixed, tiered, variable, or pegged to another rate.\\n
\\nOur software will print certificates, confirmations, or any other form that you wish. MIMICS can print on pre-printed\\n forms or can print on blank certificate or paper stock to your specifications.
\\nAn optional feature allows calculating commissions for individual sales representatives and sales team. Sales teams can\\n be either pre-arranged or ad hoc. Commissions can be calculated in several ways. Sales commissions reports are available\\n that are categorized by individuals and by team.
\\nInterest Payments, Maturity Payments and Transfers are handled in the software.\\n
\\n\\n Holdings can be rolled over at maturity if the customer wants to re-invest.\\n
\\n\\n Paper can be redeemed early with or without a penalty.\\n
\\nPayments can be made by check, wire advice, DDA, and remote DDA (ACH files sent to other banks).\\n
\\n\\n Checks can be printed on blank safety stock to save printing costs. MIMICS has interfaces available to bank DDA and various\\n GL systems. A check register is available for all payments made by check. The user can maintain the check register\\n manually or can import bank statements to update the register. Checks can be reprinted when they are verified as\\n lost or destroyed.\\n
\\nOur software maintains 1099 information, prepares 1099 paper tickets and includes an IRS interface for direct reporting.\\n Other equivalent sovereign tax forms can be created.\\n
\\nPreview your reports before printing or creating a new file. Reports can be printed to hard copy or to another format\\n such as PDF, RichText, Microsoft Excel, and others.\\n
\\nMIMICS Consulting takes a comprehensive approach to our client's on-site implementation process. In order to minimize the\\n overall implementation cost, MIMICS completes much of the data migration and verification, and setting up custom reports\\n prior to the on-site visit. This allows our consulting team to focus on in-depth end user training, parallel testing,\\n and additional custom changes to the system while on-site. Prior to the visit, MIMICS' team of consultants will work\\n with each client to formulate an implementation schedule that fits the client's time frame, budget, and objectives.
\\n\\n Consulting Services are also available for major system upgrades, new interfaces and new module integrations. While on-site,\\n MIMICS will set up the test system, check the data integrity, and provide additional training for the end users. If\\n new and unexpected custom features and utilities are needed, they may be programmed and installed during the on-site\\n visit to accelerate the upgrade process and minimize any loss of time.\\n
\\nBoth in-house and external auditing can be an arduous and lengthy process for many departments. Before, during, and after\\n major audits, MIMICS clients request new reports for internal and external submission. Depending on the scope of the\\n project and the urgency, MIMICS Consulting Services can assist with this project. While on-site, our team will identify\\n the required information, gather the data, and create the reports for the clients' review. Audit requests or required\\n changes may be made on the spot without delay. Your staff will not need to expend their time and resources analyzing\\n and researching audit requests. They can continue to perform their normal day-to-day responsibilities and make your department\\n more efficient during the audit. Utilizing MIMICS Consulting Services will make the audit process much easier to manage,\\n and maintain your department's productivity level.
\\n\\n\\nMIMICS Customer Relationship Management (CRM) Software allows financial organizations, corporations, investment\\n managers, and credit collections departments to record and manage contact information, sales and service communications,\\n collections information, customer history, new product offerings, and other sales and marketing campaigns. The MIMICS\\n CRM Software allows users from various departments to use the same software to manage existing clients, sales prospects,\\n and employees’ and vendors’ information. If you already use any of our MIMICS Software, those systems can easily interface\\n with the CRM Software. The MIMICS CRM Software System has been upgraded for all phases of the FATCA regulations.\\n Contact us to find out how our software can increase\\n your productivity.
\\n\\n\\nMultiple contacts, addresses, phone numbers, and email addresses may be recorded, and the software can track all types\\n of communication history, including documents sent and received. By tracking the communication between your organization\\n and your clients, both written and verbal, it is much easier to provide the necessary customer care that will lead\\n to future businesses and lasting relations.
\\nNew accounts are set up with no restriction on number of contacts on any given account. Our software will still track\\n the individual customers across the several accounts to which they may be associated. Each account can have any number\\n of products such as DDA accounts, savings accounts, securities portfolios, loans, etc. Our software is able to consolidate\\n assets and liabilities from the many products owned by the customer account. Other information is captured such as\\n signatory authority, references, and others.\\n
\\n\\n Multiple contacts, addresses, phone numbers, and email addresses may be recorded, and the software can track all types of\\n communication history, including documents sent and received. Both business and individual contacts can be saved\\n in multiple levels- corporation, staff, spouses, beneficiaries, and more. Account holders’ electronic signatures\\n and ID images are stored for security verification.\\n
\\nSince our software can consolidate assets and liabilities, it is aware of both FATCA and KYC requirements. The documentation required by US Indicia is built into our software. The FATCA status of individuals\\n is determined and then the FATCA status of the customer accounts is also determined.
\\n\\n Any change in status can require additional documentation to be submitted by the customer. Our software can maintain the\\n documentation or the reference to the documentation as desired.\\n
\\nAll customer and contact data is securely encrypted. Data for specific customer and prospects can be protected for a\\n department and even for an individual employee. Therefore, confidential information does not have to be open to all\\n employees with access to the CRM Software or by unauthorized departments or employees.\\n
\\nSales features include the ability to create a process Marketing and Sales Campaigns, Prospecting, and tracking of Sales\\n Calls and other contacts.
\\nAn optional module for managing your workflows can be used for processes related to the CRM Software and related modules\\n or can be used independently for non-related purposes. It allows you to set up any process that can have multiple\\n “outcomes,” each one of which can be assigned to different personnel; can produce alerts or emails; can send information\\n automatically; and can spawn another process.
\\nAn optional feature allows the customer representative to enter incidents report by the customer. Our software will assign\\n the incident to a person responsible for rectifying the problem and will track the incident through a series of steps\\n that end with the resolution of the incident. Notes can be added by any party involved with the resolution of the\\n problem. Our software provides metrics for the time taken to resolve the problem and the productivity of the various\\n personnel involved in the resolution.
\\nAn interface between the MIMICS CRM Software and all other MIMICS Software can transfer contact information transparently\\n between the modules. Data can be consolidated across all systems under the control of the CRM. The customer’s entire\\n account information from the various MIMICS Software may be viewed through the CRM screen with a single-glance.
\\nAs an optional feature, MIMICS will set up a Web Interface to allow your staff or you customers to access parts of the MIMICS CRM Software. MIMICS customizes all websites to\\n match the aesthetic layout of your existing website.
\\nMIMICS Debt Collection Software system can be used by companies to track and follow up on unpaid debts.\\n The Debt Collection software will receive information on unpaid debts via interfaces with systems such as the MIMICS Loan Management System.\\n The Debt Collection System will track the original due date and amount of the debt. It tracks conversations and includes\\n alerts either from the loan servicing department or to the department. Contact us to find out how our software can handle all your needs.
\\n\\nThrough the MIMICS CRM System, full information on the debtor and related collateral\\n and assets are saved. This information can be interfaced from the originating system, but can be expanded upon within\\n the Debt Collections System. An unlimited amount of contact info can be saved. User-defined fields of multiple types\\n can be created for company-specific fields to save. Scanned documents and signatures can be saved along with the\\n debtor account. Any existing documents can be associated with the debtor account (including PDF, Word, and Excel)\\n and can be launched directly from the Debt Collections system.\\n
\\nNotifications (or alerts) can be sent by other systems, such as the MIMICS Loan Management System,\\n and notifications can be sent to other systems. These could be notifications such as a customer’s loan becoming delinquent\\n according to a delinquency category in the Loan Management System. Notifications can also automatically be sent to\\n the appropriate personnel in the Loan Servicing department informing them of an upcoming payment.
\\nThe system will track a full diary of communications with the debtor, including calls, faxes and emails both sent and\\n received, in-person visits, and all attempted communications. Full information on the communication or attempted\\n communication is saved, along with the results of the attempt. A full audit is saved of the user and timestamp of\\n each communication. The communications are fully searchable and reportable.\\n
\\n\\nThe system can automatically schedule call-backs to customers according to a specific schedule or according to an ad\\n hoc date set at the time of a call. The system records these scheduled calls and maintains statistics regarding the\\n results of the calls.
\\n\\nThe system can produce automatic emails directly from the system. Interfaces with automatic phone-dialing software and\\n interfaces with faxing software are optional. The system tracks emails that were sent and whether they were either\\n not received or not read. These emails are logged into the communication log for the customer and the emails and\\n phone calls can be reviewed in chronological order. The system, through its Process Flow can send reminders and messages to other applications.
\\n\\nThe system has the capability to print documents for mailing to customers or can automatically send encrypted pdf documents\\n to customers. The documents can be user-designed using the embedded report writer.
\\nThe MIMICS Debt Collection System has a built-in Process Flow sub-module. The\\n Debt Collection System can initiate different user-defined processes that are triggered by different events, such\\n as upon a specified number of days past due, upon a specified number of failed communication attempts, and upon user-specified\\n dates, such as becoming a certain number of days past due. The processes that are created can be directed to specific\\n user or user groups. The processes can have any number of steps involved. Automatic emails or system notifications\\n can be generated to inform the appropriate users of items in their process queue. Processes can also automatically\\n create printouts, emails or can initiate interfaces with other systems. The interfaces with other systems can be\\n for exporting to or importing data from these other applications. The printouts and emails do not have to be between\\n users of the system or systems. They can be to customers as well. This includes reminder notices that are scheduled\\n at different times or time intervals as defined in the parameters for the specific process.
\\n\\n For example, there could be different processes defined for the various loan types with a revolving credit loan having a\\n different reminder schedule than a real estate loan. These processes can be spawned by other MIMICS Systems. For\\n example, if a loan falls into a user-specified delinquency category, a process can be spawned. Another feature of\\n the system is that a process can spawn one or more other processes. This would normally be done for customer responses\\n outside of the normal process\\n
\\nThe system retains statistics regarding the results of the calls, the number of calls it takes for a positive resolution,\\n and other results. These statistics can be displayed in graphic format.
\\nFull reporting capability is available, including analysis on aging, successful reclamation ratios, and individual debt\\n collection histories. The system interfaces with the MIMICS Report Writer module for user-defined reports.
\\nThe system can manage negotiated settlements of debts, and track all parts of the negotiations process.
\\nThe MIMICS Direct Data Connection Option allows users direct access to authorized parts of the database of the related MIMICS module. This type of connection can then be used for any of the following purposes:
\\nThe connection would allow read-only access to database views. Since it is read-only, it will not allow data manipulation to ensure data integrity and security. MIMICS provides a Data Dictionary document with this option, that describes the views and fields available.
\\nThe areas of the database enabled for viewing through this login will also not include sensitive data, such as passwords or internal MIMICS tables or fields.
\\nThis option gives you the ability to perform more flexible independence with the system, which retaining the security and integrity of your data.
\\n\\n\"","export default \"\\n\\n\\nMIMICS Inc. currently offers two types of Disaster Recovery Service: Backup Server Option at the client's site and the Off-Site\\n Storage Option hosted by MIMICS.\\n
\\nThe Backup Server Option provides you the greatest control and flexibility of protecting your MIMICS system and data. The\\n server is on the same network as the server where your primary MIMICS system and database are stored, but the back up\\n server should physically be located at a different site. Additionally, the Data Replication Server feature provides real\\n time data backup so you won't have to worry about backing up your data every night. If you have limited activity, then\\n you can opt for manually backing up your data.\\n
\\nThe Off-site Storage Option is recommended for clients with limited hard drive space or clients with small networks or one\\n server. For a monthly fee, MIMICS will set up an automated nightly upload to copy your files to our secure server.\\n
\\n\\n\\nMIMICS Email Option allows customer forms such as confirmations and statements to be encrypted and emailed\\n automatically. The Email Option can be set up for any MIMICS Software that you have licensed. The choice of what forms\\n are enabled for the Email Option is up to you. The layout of those forms is based upon your specifications.\\n
\\n\\n Statements, confirmations, receipts, reports, and other forms can be e-mailed either individually or to a group. The forms\\n and reports are sent as PDFs attached to emails that are sent through your normal email program.\\n
\\n\\n The PDF attachments can be encrypted individually by customer, encrypted as a group, or not encrypted. The PDF files are\\n encrypted with the built-in Adobe 128-bit encryption.\\n
\\n\\n Generic information on the emails can be specified on the email setup screen, including a CC address (for email audit), Subject,\\n and Message Body.\\n
\\n\\n When the emails are produced, they are written to the Outbox of your standard email program or an email account set up specifically\\n for this purpose.\\n
\\n\\n Passwords are maintained by the users of our software and can be set on the Customer level. If a universal password is used,\\n the user can set that password right before exporting the emails.\\n
\\n\\n If you would like more information about our products and services, please fill out our online request form\\n
\\n\\n\\nMIMICS EProxy Software provides online proxy materials and voting capabilities for your shareholders. The site can be hosted by MIMICS or any other web host. The site allows anyone to download the materials that are uploaded by the company. In compliance with SEC regulations, the MIMICS site does not require installation of cookies and it does not track or collect information about the visitors to the site. Proxy information on the site can be downloaded directly; can be emailed; or can be mailed. Optional features are available for registered shareholders to log in to vote. Votes are then tabulated by the system.
\\nThe site allows you, through a secure interface, to upload proxy materials for your shareholders. Any materials can be uploaded in pdf, html, or any other form. Alternatively, MIMICS can upload the materials for you.
\\nAnyone visiting the site, according to SEC regulations, can download the proxy information without being tracked. The system does not install cookies and does not in any other way track the site visitor. The proxy information that is made available can be downloaded to a user-directed location on their computer.
\\nThe user, instead of, or in addition to downloading, can have the proxy information emailed. All that is required is for the site visitor to enter their email address and to check the material they want to have emailed. The system emails the visitor's email address without tracking the address.
\\nThe site visitors can elect to have proxy material mailed to them. In this case, they must enter a name and mailing address. This information is emailed to you for your processing.
\\nThe visitor can also elect to have the information always emailed or mailed. In this case the instructions are sent to you.
\\nIf you do not want to have emails sent to you regarding the processing of the proxy material that is not done anonymously by the visitor, you can elect to have the system build a database of the information and associated tickler to allow you to process the proxy materials in the future without needing a manual interface. The system will build a mailing list and will print mailing labels and/or envelopes for the proxy material to be mailed. It will also create an email list and can broadcast the information automatically.
\\nAnother optional feature is for your corporation to add the ballot to the website. After the ballot has been added, and after the specified time, shareholders are allowed to log on to the site in order to cast their vote. The voting site is secure and all shareholders are given passwords with the ability to change them. The validity of their login is verified and, when verified, the shareholders are allowed to cast their vote.
\\nThe system can either provide the vote per shareholder to you or, if you enter the number of shares, the system can tabulate the vote, providing detailed reports and a precise audit trail. If you have the MIMICS Shareholder Accounting System, the number of shares of record are already known and the tabulation can proceed without intervention.
\\nThe MIMICS Shareholder Accounting System, that interfaces seamlessly with the MIMICS EProxy System, provides comprehensive Paying Agent, Transfer Agent, and Registrar features for stock (both common and preferred) as well as for other derivatives such as rights and warrants. For more information please contact us.
\\n\\n The MIMICS EProxy System can handle your proxy needs and provides a seamless interface with the complete registrar, paying agent, and transfer agent features.\\n
\\nIf you would like more information about our products and services, please fill out our online request form.
\\n\\n\\nMIMICS CRM FATCA Option is an add-on to the MIMICS CRM Software System that allows for the capture and processing of FATCA required data according to the U.S. Foreign Account Tax Compliance\\n Act. It allows for the seamless integration of other software systems, such as Customer Portfolio Management in order to manage the real-time\\n current balances for customers. This option integrates seamlessly with the MIMICS CRM Software enabling the collection\\n of required documentation and other information. Contact us to find out how our software can handle all your needs.
\\n\\nMIMICS CRM Software can help your organization track,\\n manage, and build customer relationships. The MIMICS FATCA Option is embedded in our CRM Software.\\n When the option is enabled, FATCA related fields appear on the screen. There are also FATCA related tabs and menu\\n items that appear if the option is enabled. The software uses parameter driven intelligence that prompts the user\\n in the collection of data for new accounts; for the collection of the same type of data for existing accounts dependent\\n upon the balance of the account; and for other purposes such as customer challenges to FATCA classification. These\\n parameters can be changed as the IRS rules change in the future.
\\nWhen a new customer is added to the CRM system, the software checks US Indicia to determine the type of documentation\\n that the user should request of the new customer. Our software determines the FATCA status depending upon the documents\\n received by the customer. As fields are changed for customer, the documentation and FATCA status are reassessed and\\n the user is notified of possible new requirements. FATCA related fields are highlighted by the system to prompt the\\n user to enter data for the critical fields.
\\nProcedures similar to adding Individuals are followed when adding a new entity. The company type, according to IRS Chapters\\n 3 and 4 are entered in order for the software to determine the type of documentation required for collection from\\n the new customer. As the values for the fields are changed at a future date, the FATCA status of the entity is reassessed\\n by the software.\\n
\\n\\n Our software prompts for the entry of the holdings of shareholders in a company and determines if a shareholder is “substantial”\\n based upon FATCA rules. If the shareholder is substantial, the company’s holdings effects the customer holdings.
\\nNew accounts are set up with no restriction on number of customers on any given account. Our software will still track\\n the individual customers across the several accounts to which they may be associated. The FATCA status of the account\\n is partially determined by the holders on the account. Our software checks the FATCA status on the holders before\\n determining the FATCA status of the account. As holders and signatories are added, the FATCA status and requirements\\n are reassessed by the software.\\n
\\n\\n Our software consolidates assets and liabilities from the many products owned by the account. The value of the accounts are\\n determined as well as the values of the holdings for individuals and entities across accounts in order to compare\\n against the FATCA de minimus rule.
\\nDocumentation that is required for FATCA compliance is tracked by our software. The request dates, received dates, and\\n expiry dates are captured and are tracked. The user is prompted prior to the expiry of the document so that the customer\\n can be contacted to provide updated information.
\\nIf an individual or entity does not comply with documentation requests in a timely manner, they are marked as being recalcitrant\\n and are reported on accordingly.\\n
\\n\\n MIMICS FATCA Option to the MIMICS CRM System generates reports of recalcitrant customers; customers with US Indica; status\\n of documentation; FATCA status of both individuals and entities; consolidated holdings; and many others.\\n
\\nOur software is set up to withhold according to the FATCA rules. Our software checks the FATCA status of the Account\\n and Customer to determine withholding requirements. As the FATCA withholding rule comes into effect, the software\\n will withhold accordingly.\\n
\\nAn interface between the MIMICS CRM Software and all other MIMICS Software Systems can transfer contact information transparently between the modules. Data can be consolidated across all software under\\n the control of the CRM. The customer’s entire account information from the various MIMICS Software Systems may be viewed\\n through the CRM screen with a single-glance. The integrated interface allows for a seamless interaction between the various\\n modules.
\\n\\nMIMICS Fixed Assets Management Software provides a completely automated solution for managing corporate\\n assets. The assets can be categorized by asset type, and a user defined modeling feature allows for quick asset entry\\n while minimizing entry errors. The system tracks assets for an unlimited number of companies, along with other physical\\n and logical location codes such as cost center, department, building, floor, etc. Simple transfer processing keeps a\\n history of the assets' life cycle through different locations.
\\nThis system will help your organization cut costs by tracking accurate asset valuation to minimize insurance costs and maximize\\n replacement values. Assets can be valued by any number of indices, such CPI and PPI. Keep vehicles and equipment properly\\n maintained with maintenance scheduling and tracking. Pictures and documents can be saved for each asset showing lease\\n agreements, purchase documents, and pictures of asset condition. Reporting to foreign governments or foreign reporting\\n entities can be easily accomplished by using the multi-currency feature and can be further enhanced by setting up separate\\n foreign books. Maximize tax savings with your choice of depreciation methods and first year depreciation methods. Keep\\n an unlimited number of books for the most effective reporting to stockholders, IRS, state governments, foreign governments,\\n and other entities.
\\nMIMICS Fixed Assets Management System fully integrates with the full suite of MIMICS Accounting System products.
\\n\\n\\nCorporate Structure allows the tracking of assets for an unlimited number of companies.
\\nAsset Locations are user defined. The user identifies and names the locations in the system so assets can\\n be tracked by cost centers, branches, buildings, departments, floors, rooms, etc.
\\nTransfer Processing allows the transfer of assets to any location defined in the corporate structure.
\\nWork Orders are produced for transfers that require scheduling and special handling.
\\nHistorical Location Tracking provides a complete history of all the locations where an\\n asset has resided and lists the dates of each transfer.
\\nAsset Category Modeling allows the user to define asset categories. Each category can have any of the asset\\n attributes predefined and automatically assigned to any asset during the entry process. These attributes can be overridden.
\\nLost, Stolen, and Missing Assets can be identified and reported separately for claim processing. The historical\\n location can assist in finding missing assets.
\\nDepreciation Methods of Straight Line, Declining Balance, Sum-of-the-Years'-Digits, ACRS,\\n and MACRS are available through the system. Any depreciation method can be created at the user's request.
\\nPurchases and Disposals feature allows the tracking of assets from the point of their purchase or acquisition\\n to disposal. Reports are available to show the status and disposition of new and disposed assets.
\\nMultiple Books can be maintained in the system for any company. The books can be named and designated as\\n the user wishes for corporate grouping; federal, state, and any governmental grouping; and foreign grouping.
\\nForeign Reporting and multi-currency reporting are available. A currency conversion table allows reporting\\n in any foreign currency of choice.
\\nInsurance Reporting and valuation tables are used to accurately calculate replacement values and to ensure\\n adequate insurance coverage. These can be valuation tables of your choice. The location and pictures of asset conditions\\n assist in maximizing the recovery amount on damaged, lost, or stolen property.
\\nAsset Valuation can be used for much more than insurance. Current asset value can be determined by any of\\n the numerous methods available. The indexes for any method can be added to the valuation tables and used to calculate\\n current and past asset values.
\\nAsset Maintenance Scheduler tracks upcoming maintenance orders and repairs. The system reports when assets\\n are due for maintenance and keeps a documented history of the\\n
maintenance and repairs. Document images can be stored with the asset information.
Document Management allows documents and pictures to be stored with the asset information. These documents\\n can be copies of invoices, maintenance documentation, lease agreements, original purchase orders, or any document that\\n needs to be kept with the asset. The documents can be stored in any picture format or in PDF format.
\\nElectronic Pictures can also be stored with the asset information for a documented history of the assets'\\n condition and surroundings.
\\nAdditional Reports are included in the system with user defined sorting and data selection capabilities.
\\nWeb Interface of Asset Review and Update are available. Asset information can be reviewed through the Internet.\\n This can be used to review agreements and pictures of the asset when the company network is not available at the asset\\n location.
\\nIntegration of this system with the MIMICS General Ledger System and other\\n general ledger systems is easy to set up.
\\n \\n\"","export default \"\\n\\n\\nMIMICS Front Office Software shows your available inventory to help you give quick quotes to your customers.\\n The system handles fixed income securities, equities, fixed income derivatives, and equity derivatives. Once there is\\n a sale, your trades are automatically transmitted to the back office for further processing.
\\n\\n The Trade Inventory Screen is the major interface for the salespeople. It shows the current inventory that can be sold to\\n customers, it maintains commitments by customers, and it serves as a traffic manager for the salesperson. It is an "intelligent"\\n inventory that notifies the salesperson of a potential customer for specific trades. You can search the current inventory\\n for the security you want, or you can let the system automatically choose it.
\\n\\n The Investment Calculator makes dollar price and yield calculations for fixed income and mortgage backed securities. It also\\n makes generic financial calculations such as days between dates and present value, it calculates volatility, and the\\n calculations can be saved for later use.
\\n\\n If the customer wants to think about your offer before committing to the deal, save your quotes by using the Quote Manager\\n feature. When you contact your customer again, pull up the quote you saved, change it if necessary, and then activate\\n the trade.
\\n\\n When trades are entered, price/yield and accrued interest calculations are made. Purchases are instantly added to inventory\\n and the sales immediately reduce inventory. The Trade Blotter is available in real-time. Tickets are prepared along with\\n daily management reports. Inventory available from other sources can also be added and can be segregated. Accounts can\\n be consolidated per your definition. As the trade is completed, sales commissions can be calculated and commission reports\\n can be printed later.
\\n\\n The activation of the trade immediately integrates the trade to the MIMICS Back Office System.\\n The trade can be automatically processed by the back office, or a control point can be established that requires back\\n office acceptance of the transaction. When the trade is accepted by the back office, commissions are calculated, confirmations\\n are printed, and compliance reporting is available within seconds.
\\n\\n The system also works as your sales assistant. It keeps track of your appointments and calls, and the system will automatically\\n prompt you for these tasks. The system will also keep track of your customers' trading preferences, and it can maintain\\n detailed records of your conversations with your customers.
\\n\\n The MIMICS Front Office System is designed to help you organize your sales efforts and close more sales. It offers a smooth\\n interface to the back office, and it easily enters and tracks all trades. The system assists in providing reports for\\n management while complying with government regulations. All of this is accomplished with minimum operator time, and with\\n the utmost regard for the security and integrity of your operation.
\\n\\n\\nMIMICS General Ledger Software interfaces directly with any other MIMICS module, or can stand-alone. It\\r\\n is a fully functioning general ledger with budgeting, analysis, and other features. A journal entry feature allows the\\r\\n user to post entries that are always balanced. Entries from other accounting modules are created according to flexible\\r\\n accounting rules that you define. Standard accounting reports can be selected at any time, and an optional report writer\\r\\n allows creation of your own reports. Contact us to find out how our software can handle your accounting needs.
\\r\\n\\r\\n\\r\\nOur software will account for multiple companies, departments, and other entities. The software can report on the individual\\r\\n entities or can consolidate reporting based upon the user-defined hierarchy. Each entity in the corporate hierarchy\\r\\n can have different Chart of Accounts structures. The various Charts of Accounts can be mapped to each other in order\\r\\n to produce consolidated reports on the higher levels.\\r\\n
\\r\\n\\r\\n The user can set up any structure for their business hierarchy from holding company all the way down to branches or other\\r\\n locations. The scope of the hierarchy is unlimited and can consist of any number of levels. If multiple institutions\\r\\n are being used, each can have its own hierarchy with differing numbers of levels.\\r\\n
\\r\\nEntries can be made in any number of currencies and our software can report on these transactions in any other currency\\r\\n using an exchange rate table. Unrealized gains and losses can be reported in the base currency.\\r\\n
\\r\\nA flexible Chart of Accounts allows user-defined account numbers. These numbers can be identical to other business units\\r\\n with the software maintaining the units separately in the database. Accounts can be set up for one unit and can be\\r\\n copied to any other to save setup time. The account numbers can be grouped to enable summary reporting and to allow\\r\\n for financial ratio calculations.
\\r\\nOur software handles any kind of accounting periods and any fiscal year. These accounting periods can be closed by individual\\r\\n unit or they can be closed out as a group at one time for those with the same period end date.\\r\\n
\\r\\n\\r\\n The database is updated in real time so up-to-the-minute reports can be created at any time.\\r\\n
\\r\\n\\r\\n Closing at period end closes out revenues and expenses for the next period. Period End Closing can be re-run at any time,\\r\\n if required. If there is a problem with a previous period, it can be re-closed resulting in all following periods\\r\\n to be re-closed.\\r\\n
\\r\\nAll entries entered through our software are required to be balanced due to internal system rules. There is an option,\\r\\n however, for banks that require entering unbalanced entries to be transferred to another application that creates\\r\\n the contra-accounting entries.\\r\\n
\\r\\n\\r\\n The Journal Entry feature allows manual dual entry bookkeeping entry with an automatic balancing feature. This feature is\\r\\n used for posting entries if other MIMICS Accounting modules, such as Accounts Payable,\\r\\n are not licensed by the user. It can also be used for entering correcting entries if required.
\\r\\n\\r\\n Entries can be reversed easily through a simple user interface. The reason, date, and time of the reversal is recorded.\\r\\n
\\r\\nDefine the format of your Cash Flow report and the source of the data. View your cash flow in real-time.
\\r\\nCreate budgets for any business unit and track the variance from actual on screen or by report. Our software provides\\r\\n several methods for assisting with defining budget figures such as historical averages and percentage increases/decreases.
\\r\\nQuickly view the standard ratios for your accounts on a screen view that allows drill-down to specific accounts. The\\r\\n accounts to be used in calculating ratios are defined by the user, i.e., the accounts are not predefined by MIMICS.
\\r\\nAccounting transactions from other software such as billing, security trading operations and portfolio management can\\r\\n be directly posted to the General Ledger without the need for an import or manual entry. This will result in very\\r\\n few entries needing to be entered directly into the General Ledger through journal entries.\\r\\n
\\r\\n\\r\\n Reports can be exported in spreadsheet, pdf, word processing document, and many other formats.\\r\\n
\\r\\nThe various MIMICS modules such as portfolio, pensions,\\r\\n loans, etc. create accounting entries based upon accounting rules that are set\\r\\n up by the module. The entries can be posted in real-time to the General Ledger.
\\r\\nMIMICS Hedge Fund Software has evolved to match today's market requirements. The system manages security\\r\\n portfolios for any type of security, and it maintains margin accounts. An embedded General Ledger System provides\\r\\n all financial reporting for the fund. Accounting is entirely flexible, and the system can handle any kind of accounting\\r\\n transaction. Net Asset Values are calculated in the fund portfolio, and are seamlessly integrated with the transfer and\\r\\n paying agent (customer) side. The customer side provides all features of registrar, paying agent, and transfer agent.\\r\\n Extensive and detailed information can be maintained for each customer. Payments can be handled as a group, in several\\r\\n groups, or specifically for individual clients. For example, you may pay most payments by ACH, while also maintaining\\r\\n a group for reinvestments, with the exception of three customers who are always paid by check. With the MIMICS Hedge\\r\\n Funds System, you can manage any number of funds on the same system.
\\r\\n\\r\\n The funds that are being managed can contain any type of security. For example, the portfolio can contain fixed income securities,\\r\\n fixed income derivative such as CMOs and mortgage backed securities, equities, equity derivatives, and foreign exchange\\r\\n transactions. The system manages income from dividends, principal, and interest. Recurring and other expenses are maintained.\\r\\n All revenues and expenses are posted to the embedded General Ledger System. The system provides performance reporting\\r\\n and cash flow projections. This data can be printed on reports, viewed on the screen, or viewed or printed as charts.\\r\\n (See MIMICS Portfolio Management System). A trial balance can be\\r\\n printed at any time since all of the accounting is done in real time. According to your schedule (or ad hoc),\\r\\n a Net Asset Value and NAV per share are calculated.
\\r\\n\\r\\n MIMICS Hedge Fund System also manages the customer side of the hedge fund. The system provides all features necessary for\\r\\n the registrar, paying agent, and transfer agent. The system verifies the fund requirements when the customer information\\r\\n is entered. For example, it can verify nationality and net worth requirements. Transfers can be made between individual\\r\\n or multiple holders. Settlement dates can be set in the future. Shares can be restricted according to parameters set\\r\\n by the user. Payment can be made by check or direct deposit. Statements, acknowledgements, confirmations and any other\\r\\n form desired are printed for holders.
\\r\\n\\r\\n This feature is applicable any time a number of funds are used with an investment strategy already established. The asset\\r\\n allocation system does the investment distribution for you. The concept is so simple, but the handling is so time consuming\\r\\n if done manually. MIMICS has automated the process for you. MIMICS Hedge Funds System allows you and your customer to\\r\\n decide the distribution of investment dollars, based on whatever criteria you supply. The system will invest all contributions\\r\\n automatically, based on the model portfolio you develop. When it is time to re-allocate, due to any circumstance, it\\r\\n will automatically make the appropriate redemptions and investments.
\\r\\n\\r\\n\\r\\n
MIMICS Investment Calculator Plus Software performs daily calculations instantly, and displays all pertinent\\r\\n data at a single glance. This system will eliminate the need for another calculator or terminal on the desk. The calculations\\r\\n can be saved for later use.
\\r\\n\\r\\n Calculator Key Pad: This feature presents price and yield calculations on your screen at computer (not Calculator) speed.\\r\\n The trader or salesperson can manipulate the trade easily while on the phone with the prospect. These quotes may then\\r\\n be printed for your own records, and can be sent to your customer.
\\r\\n\\r\\n Back Office Interface: The calculations can be saved until final execution of the trade is done. The information can then\\r\\n be passed to the back office after the customer has been identified and an inventory item has been "tagged."\\r\\n The final acceptance of the inventory item tagged must come from the back office.
\\r\\n\\r\\n\\r\\n\\r\\n
MIMICS Loan Origination Software provides you with the tools to effectively execute the loan application\\r\\n process from start to finish. Loan application information is easily entered into the software system and can be completed\\r\\n in one sitting or can be stopped and restarted until the application is completed. When the financial data is entered,\\r\\n the software will analyze the financial statements immediately, providing standard financial ratios. Any values outside\\r\\n of user-defined ranges will be flagged. The entire application will be reviewed and analyzed for completeness and is\\r\\n searched for information that is outside of user-defined standards.\\r\\n
\\r\\n\\r\\n Our software can generate documents, such as letters to applicants, based on the information you provide. All written and\\r\\n verbal communications with the applicants and clients can be recorded to the software to fulfill procedural requirements\\r\\n or for record keeping purposes. Loans can be tracked after approval of the application if desired, through the\\r\\n
You can set the parameters for acceptable values in the loan application, for acceptable financial ratios, and for many\\r\\n other system features. With your input, we can set the parameters to your specifications and create a virtually customized\\r\\n system for you.
\\r\\nYou can define the loan application input screen including the field layout; which fields are required; upper and lower\\r\\n limits of the fields; on-screen captions; and other parameters.
\\r\\nThe clearly defined fields for the loan application make it easy for you to enter the necessary information to complete\\r\\n the process. Alternatively, the customer can fill in the application through a web interface.
\\r\\nA copy of the application is printed for the customer’s signature. Print preview screens ensure the accuracy of the document\\r\\n before printing on costly materials.
\\r\\nCustomer information can be entered quickly into a custom-designed format, or a standard format. All information is checked\\r\\n against parameters you pre-defined so problem areas can be immediately identified, and incorrectly entered information\\r\\n can be corrected before completion of the application.\\r\\n
\\r\\n\\r\\n Our software tracks all communications with the customer including emails and phone calls. You can enter the content of phone\\r\\n conversations for future reference. Calls can be scheduled in advance to provide a tickler for the loan officer.\\r\\n
\\r\\nOur software can prepare any number of documents, either standard or user-defined, from the data entered during the application\\r\\n process. The software tracks the disposition of the documents and provides reporting on all of the documents either\\r\\n provided by or sent to the applicant. The software system tracks acceptances, rejections, and requests for additional\\r\\n information. Commitment letters and other documents are designed to your specifications with logos and any other\\r\\n images printed directly on the letter. You can create your own letter templates with text, mail-merge, and graphics.
\\r\\n\\r\\nEnter detailed financial information. As a user option, financial ratios can be calculated immediately. These ratios\\r\\n are compared to requirement tolerances and are fully reported, showing any amount of discre
\\r\\n\\r\\n Our software can keep any number of years of financial information and will also calculate trend lines. Net cash flows are\\r\\n calculated to help determine payback ability. The software system can require assets, liabilities and equity to be\\r\\n balance, e.g. for corporate accounts, or it can remain unbalanced, e.g. in the case of consumer accounts.
\\r\\nAny amount of collateral can be pledged to a loan. Appraisal values, insurance, and other features of the assets are\\r\\n tracked and can be passed, after loan application acceptance, to the MIMICS Loan Management Software to continue the life of the loan.
\\r\\nA user-defined checklist by class of loan can be defined for assistance in the loan review.
\\r\\nOur software facilitates the review of the application and the final approval, rejection, or temporary rejection in the\\r\\n case that additional information is required.
\\r\\nAll reports can be printed in hard copy, pdf, and in spreadsheet and word processor formats. All data can be exported\\r\\n to other systems.\\r\\n
\\r\\nMIMICS Long Term Savings Account (LSAs) Software is a comprehensive management system for handling long\\r\\n term saving accounts, a special deposit instrument created by Parliament on June 1, 1999. The Government of Jamaica\\r\\n had introduced this Jamaican Dollar denominated tax-free account specifically for individuals.
\\r\\n\\r\\n An individual is allowed to invest up to a maximum amount per year in an LSA account as dictated by the Government of Jamaica. MIMICS\\r\\n LSA System tracks each individual's deposits to their LSA account and monitors the investment limit. The system will\\r\\n check each new investment to check if it would exceed the limit in relation to the other investments done in that same\\r\\n year. The system also checks when the new LSA is approved, in case there were multiple pending LSAs.
\\r\\n\\r\\n The interest paid or credited to this account is not subjected to tax if the LSA is not encashed early. However, the MIMICS\\r\\n LSA System will retain the percentage of interest to be withheld in case the LSA is encashed early.
\\r\\n\\r\\n MIMICS LSA System calculates the penalty deduction percentage on the income accrued on a long term savings account when an\\r\\n early encashment occurs. It calculates the amount to be retained for the Collector of Taxes and the amount of the accruing\\r\\n interest to be payable to the account holder.
\\r\\n\\r\\n New investments are handled by the system as a new LSA transaction as opposed to contributing to an existing LSA Transaction. This\\r\\n is because each contribution is subject to the 5-year limit. However, all LSAs for one customer are tied together for\\r\\n annual limit checking.
\\r\\n\\r\\n Rates can pegged to an overall LSA rate in the case that all LSAs have the same rate, and that rate changes periodically.\\r\\n Set the peg whenever the rate changes, and the system automatically changes the rate on all of the trades.
\\r\\n\\r\\n The payment schedule can be set to \\\"At Maturity\\\" so that the system will not automatically disburse interest accrued on the\\r\\n LSA. If the Payment Schedule is changed, disbursements will automatically be created by system.
\\r\\n\\r\\n In addition, the system also allows interest to be manually withdrawn periodically. The system can allow the LSA Customer\\r\\n withdraw interest accrued at any time. The system can disallow the portion of the interest that would be withheld if\\r\\n the LSA is encashed early.
\\r\\n\\r\\n The user can define the allowable withdrawals. The interest amount paid out is based on the withdrawals that are allowed.
\\r\\n\\r\\n The Compounding Schedule can be set periodically for example to default to \\\"Quarterly\\\". In that case, every quarter the outstanding,\\r\\n un-withdrawn interest will be reinvested into the principal of the LSA.
\\r\\n\\r\\n Setting up fees for your customers through the MIMICS System is simple and straight-forward. The user can define different\\r\\n types of management fees to be charged for example periodic fees, interest withdrawal fees and early encashment fees.\\r\\n In addition, G.C.T. (Gross Consumption Tax) can be calculated and charged on the Management Fee.
\\r\\n\\r\\n The user can define which actions will occur upon maturity of the LSA when the account is initially set up. Examples of\\r\\n actions are Rollover Principal and Interest, Rollover Principal, Reduce Principal and Do Not Rollover. The system allows\\r\\n this action to be changed after the LSA has been created, at any time before it matures.
\\r\\n\\r\\n Confirmations, statements, interest payment tickets, checks, advices and any other forms that you send to your customers\\r\\n are printed. These forms are designed to your specifications, and they can be printed with micr encoding.
\\r\\n\\r\\n By interfacing with the MIMICS Portfolio Management System you can fully utilize your portfolio securities. There is no\\r\\n need to have the collateral sit idle. The Portfolio System will make sure the collateral is not pledged elsewhere, e.g.,\\r\\n to public funds deposits, so you cannot double or over pledge.
\\r\\n\\r\\n The system comes complete with full audit trail reporting and history posting. These are accessed through standard reports\\r\\n or through use of the on-board report writer. GL and DDA entries can be automatically transmitted to your mainframe GL\\r\\n and DDA systems.
\\r\\n\\r\\n\\r\\nMIMICS has interfaced with over 150 different third-party systems over the years, such as Electronic Data Interchange (EDI),\\r\\n Daily/Periodic Interfaces and Data Conversions. These interfaces have been facilitated a number of ways, including the\\r\\n following:
\\r\\nOf these various interfaces offered by MIMICS, we would like to highlight a few:
\\r\\nSWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial\\r\\n world conducts its business operations with speed, certainty and confidence. More than 9,000 banking organisations, securities\\r\\n institutions and corporate customers in 209 countries trust us every day to exchange millions of standardised financial\\r\\n messages. (from SWIFT)
\\r\\nAutomated Clearing House (ACH) is an electronic network for financial transactions in the United States.\\r\\n ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit payroll\\r\\n and vendor payments. ACH direct debit transfers include consumer payments on insurance premiums, mortgage\\r\\n loans, and other kinds of bills. Debit transfers also include new applications such as the Point-of-Purchase(POP) check conversion\\r\\n pilot program sponsored by NACHA-The Electronic Payments Association. Both the government and the commercial sectors\\r\\n use ACH payments. Businesses are also increasingly using ACH to collect from customers online, rather than accepting\\r\\n credit or debit cards. (description from Wikipedia).\\r\\n For more information, go to NACHA.
\\r\\nReal time gross settlement systems (RTGS) are funds transfer systems where transfer of money or securities takes place\\r\\n from one bank to another on a "real time" and on "gross" basis. Settlement in "real time"\\r\\n means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed.\\r\\n "Gross settlement" means the transaction is settled on one to one basis without bunching or netting with any\\r\\n other transaction. Once processed, payments are final and irrevocable. (description from Wikipedia)
\\r\\nThe Corporate, Municipal, and UITs (CMU) system provides all of its customers with RTTM - a single pipeline, a\\r\\n common processing platform, and a standardized message format for the U.S. fixed income markets. RTTM reduces execution\\r\\n and settlement risk as well as costs because it allows customers to maximize the volume of trades that match on trade\\r\\n date, and ensures that trades are locked in and ready for settlement, moments after they've been submitted. It also allows\\r\\n firms to fix any processing problems the same day when an error occurs, rather than waiting for the following morning,\\r\\n as in the previous batch processing system.
\\r\\n\\r\\n RTTM is the matching mechanism for CMUs, however, clearance & settlement remains with the existing systems established\\r\\n at NSCC. Both NSCC and FICC are wholly-owned DTCC subsidiaries. FICC, which began operations on January 1, 2003,\\r\\n was created through the merger of the Government Securities Clearing Corporation (GSCC) and MBS Clearing Corporation\\r\\n (MBSCC).
\\r\\n\\r\\n The Corporate, Municipal and UIT services offered by FICC avails participants membership to Real-Time Trade Matching (RTTM)\\r\\n Services. (from DTCC)
\\r\\nIf you have a Bloomberg Data Services license, MIMICS can directly request and receive Security Header information, Prices,\\r\\n Corporation Actions, and other information from Bloomberg. The request schedule is configurable and can be automated\\r\\n on a schedule.
\\r\\nMIMICS interfaces with various data providers to import information such as pricing, factor information, CUSIP information,\\r\\n and exchange rates. MIMICS is also partnered with Interactive Data to interface with their services, including DATAFEED.
\\r\\nAlthough MIMICS offers a General Ledger software, MIMICS also interfaces with numerous\\r\\n third-party General Ledger systems to export accounting entries on a real-time or batch basis.
\\r\\nMIMICS can also customize any type of interface for an hourly charge.
\\r\\n\\r\\n\\r\\nMIMICS can provide you and your customers access to their data online through mobile devices such as iPhones, Blackberries,\\r\\n Android devices, or any other device that has internet access. Typically, MIMICS can provide this access by utilizing\\r\\n the devices' web browser.
\\r\\n\\r\\n The MIMICS websites can identify requests from a mobile device and can provide a lower-resolution, simplified website presentation\\r\\n accordingly. The mobile-device version of the website is streamlined to reduce load time and to provide an intuitive\\r\\n user interface that fits within the constraints of the mobile device.
\\r\\n\\r\\n As with the standard MIMICS websites, the mobile device version of the website can be customized to your company's look and\\r\\n to the functionality that you require for your customers. Your customers can have access to view simplified statements\\r\\n and other reports, or to request a full version to be emailed to themselves automatically. Access can be provided to\\r\\n allow the customers to be able to post certain types of transactions from their device.
\\r\\n\\r\\n Alternatively, MIMICS can program applications specifically designed for a certain type of mobile device upon request. This\\r\\n goes through the MIMICS Outsourcing Services.
\\r\\n\\r\\n\\r\\nMIMICS Money Desk Software allows money desk operations to be integrated into a single module, providing\\n reporting across all products and a simple GL or DDA interface to your core system. You can process investments from\\n overnight through longer terms. A wide variety of rate offerings are available from fixed rates through pegged, tiered,\\n and variable. You can process overnight transactions individually or by way of automated sweeps. The system will print\\n confirmations, customer statements, and reports for compliance and management. You can view customer transactions on-screen,\\n and you can drill down through the displays to find detailed information.
\\n\\n\\nMIMICS Open Time Deposit Software enables your organization to easily manage your customers’ open time deposit\\n accounts. Our software handles fixed rate, variable rate, and rates pegged to another rate such as LIBOR. Both simple\\n interest and compound interest are handled. Our software allows you to offer your customers a highly liquid investment\\n that offers a higher return and helps you earn fee-based income. Contact us to find out how our software can handle all your needs.
\\n\\n\\nWith the MIMICS Open Time Deposit Software you can set up any number of accounts, such as savings accounts, with multiple\\n accounts being allowed for the same customer. Setting up the accounts is flexible. For example, rates can be fixed,\\n variable or can float against another rate. The rates can be assigned according to principal tiers. Peg rates are\\n user-definable, and can be internal pegs or can be external pegs such as Prime or LIBOR. Interest can be calculated\\n using a variety of calendars, and can be simple or compounded using a selection of compounding schedules. You can\\n specify the interest payment schedule.\\n
\\nYou can set up any number of account classes, including specifying the default Interest Calendar, Term, Payment Frequency,\\n etc. When you create a new Account and select the Account Class, all defaults will populate the account detail automatically.\\n
\\nOur software can automatically process the scheduled payments on the account based on the outstanding accrued interest.\\n Payments can be made by Check, ACH, and Wire. Interest can also be compounded.
\\nYou can sweep your clients' excess balances into open time deposit. You can specify the target balance for each customer.\\n Our software can then be configured to receive a sweep file from your DDA system for any outstanding balances. The\\n software can also sweep into repos, fed funds and mutual funds.\\n
\\nMIMICS Order Management Software is designed to facilitate taking and entering buy and sell orders from\\r\\n clients of any instrument type, processing the completion of the orders, and processing additional exchange and legal\\r\\n actions, such as certificate lodgment, pledging, indemnity fees, and transfer taxes. Fee and commissions are tracked\\r\\n for all activity. Full reporting is available.
\\r\\n\\r\\n MIMICS Order Management Software allows the easy entry of trading orders. Buy and sell orders can be entered. A specific\\r\\n quantity or a specific value can be entered. The price can be specified, or the order can be placed at the market price.\\r\\n Limit and stop/loss prices can be entered. You can indicate if there is a minimum required to fill, or that the filled\\r\\n amounts must be in a certain increment amount. The order duration can be entered as a day order, good 'till a certain\\r\\n date, or as good 'till cancel. If the exchange where the order is placed provides an interface, the MIMICS system can\\r\\n automatically post the approved orders.
\\r\\n\\r\\n The MIMICS Order Management System will handle the processing of any type of instrument that is traded over an exchange including,\\r\\n but not limited to, Equities, Fixed Income, and Commodities.
\\r\\n\\r\\n Complete your orders manually or they can be completed manually. The trades can be imported from a file sent by the exchange.\\r\\n At the time of completion, the MIMICS system will verify that completion falls within the proper parameters specified\\r\\n when the order was placed (such as the price, the quantity, etc.). Any completed amounts that do not comply will be automatically\\r\\n posted to the house account.
\\r\\n\\r\\n The system calculates fees, commissions and taxes. Fee and commission defaults can be set for flat or tiered. Tiered schedules\\r\\n can have different tiers as flat amounts or as a percentage of principal. Taxes can be calculated on the fees and commissions\\r\\n charged. Fees and commissions can be overridden manually.
\\r\\n\\r\\n Additional exchange activity can be processed, including lodging certificates with the exchange, withdrawing certificates\\r\\n from the exchange, pledging certificates, releasing pledges, entering indemnity fees and transfer taxes.
\\r\\n\\r\\n The customers' account balances are tracked in the system. Receipts are posted when the customer deposits funds. Disbursements\\r\\n can be processed. If the disbursement is paid by check, the system can print the check and maintain the check register.
\\r\\n\\r\\n The activity entered in the MIMICS system can optionally be required to go through an approval process. For example, the\\r\\n order completion can be imported, and then go through the approval process to allow the verification of fees and commissions\\r\\n calculated.
\\r\\n\\r\\n Full reporting is available in the system for all types of activity. Forms, such confirmations and acknowledgements can also\\r\\n be printed, and can be set up in your custom layout.
\\r\\n\\r\\n All data files are encrypted. The system provides multi-level password protection. All menu selections can be password-protected.\\r\\n Even fields and buttons can be protected. Profiles can be established for different job functions.
\\r\\n\\r\\n With the optional MIMICS Report & Form Designer Feature, you will be able to modify any report or form (such as a confirmations)\\r\\n with the layout feature. This feature includes the ability to design your own reports.
\\r\\n\\r\\n As an optional feature, MIMICS can set up a Web Interface to allow your customers to\\r\\n log on to view and download reports and statements. MIMICS customizes all websites to match the aesthetic layout of your\\r\\n existing website.
\\r\\n\\r\\n\\r\\nThe MIMICS Payment Processing Module provides a quick and easy way for branches to process various types of payments, including payments by Check (including Cashier’s Checks and Money Orders), Direct Deposit, Credit Advice, ACH, SWIFT and RTGS. This module also can facilitate Remittance Payments and Receipts. Accounting rules can be configured to produce accounting entries for the different payment options, which can be fed to a General Ledger module.\\r\\n
\\r\\n \\r\\n\\r\\n\\r\\n The MIMICS Payment Processing Module allows you to print checks, money orders, and cashier’s checks maintaining a central check register. The system has reports and check processing tools to properly maintain and control the check print processing.
\\r\\nPayee Information – A file of payee information is maintained for proper addressing and tracking, Payees can be marked as temporary to minimize the confusion of many one-time payees.
\\r\\nCustomer Information – A file of customer information is maintained. These are the bank customers for which the checks are written to the payees. A loan number or tracking number is used to track all payments for the customer. Customers can be marked as temporary to minimize the confusion of many one-time or short-term customers.
\\r\\nCheck Stock – One or multiple stocks of checks can be managed by the system. The template and format of each set of check stock can be customized to your specifications, and can optionally include logos, signatures, and the micr line. Checks can be printed on pre-printed checks or on blank check stock. If you process with multiple sets of check stock, the check numbering sequence can be tracked for each stock independently.
\\r\\nChecks Processing – Checks can have as many line items as will print on the check stub. The user enters the line item (stub amounts) amounts and the system automatically calculates the total check amount. Checks can be processed by the User ID to easily identify a user’s work in the event many branches are processing checks. Checks can also be selected to print by bank customer in the event that there is more than one check for a customer.
\\r\\nCheck Numbers – The system can “assign” check numbers or it can create numbers for printing checks on blank check stock. Alternatively, check numbers can be assigned by the user.
\\r\\nCheck Reprinting/Replacement – Checks can be reprinted if they are lost or destroyed. They can be printed with the same or different check numbers.
\\r\\nCheck Register – A check register allows a central location to maintain and monitor all checks. Checks can be corrected, voided, and tracked.
\\r\\nCheck Clearing – Check Status can be tracked, including whether checks are outstanding, cleared, voided, or stale-dated. Checks can be cleared manually or automatically from an import. Stale-dating can happen automatically.
\\r\\nReports – Reports show check information and status. They also track bank customers’ activity.
\\r\\n\\r\\n The MIMICS Payment Processing Module can track customer DDA/Savings account information, including Bank Routing Number and Account Number, and can produce direct deposit payments. Commonly, DDA payments can be exported via a standard interface, such as ACH or RTGS (described below).
\\r\\nRemote DDA – The MIMICS Payment Processing Module can also produce payments by Remote Direct Deposit. This is for cases where Banks you send deposits to automatically are not connected to you by a ACH network, RTGS network, or other standard messaging network. In this option, the system can produce an export file customized to the format required by the bank in question (there can be different formats for each bank) that can be sent remotely (emailed, uploaded, etc.). Along with the file, a report and/or letter can also be sent electronically to define the contents of the payment file.
\\r\\n\\r\\n Credit Advices can be printed for direct deposit payments. In some cases, payments may be processed by Credit Advice only, without another electronic payment be sent. Credit Advices can be customized to your required format. Any number of different formats (templates) can be customized.
\\r\\n\\r\\n MIMICS can produce NACHA formatted files in the format required for upload to a country’s ACH network. If you are a bank, the file can be processed into your ACH facility. If you are not a bank, your bank may allow the upload of an ACH file through their website for payment processing.
\\r\\nDescription of ACH from Wikipedia:
\\r\\n\\r\\n Automated Clearing House (ACH) is an electronic network for financial transactions in the United States and other countries. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit payroll and vendor payments. ACH direct debit transfers include consumer payments on insurance premiums, mortgage loans, and other kinds of bills. Debit transfers also include new applications such as the Point-of-Purchase(POP) check conversion pilot program sponsored by NACHA-The Electronic Payments Association. Both the government and the commercial sectors use ACH payments. Businesses are also increasingly using ACH to collect from customers online, rather than accepting credit or debit cards.\\r\\n
\\r\\n \\r\\n For more information, go to http://www.nacha.org/. \\r\\n
\\r\\n MIMICS can interface with the SWIFT Alliance Network for different message types. This module deals with message types related to the sending of payments. MIMICS can facilitate the connection to the SWIFT Alliance through a messaging software such as the IBM MQ Series.
\\r\\n\\r\\n SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 9,000 banking organisations, securities institutions and corporate customers in 209 countries trust us every day to exchange millions of standardised financial messages.\\r\\n
\\r\\n \\r\\n
\\r\\n MIMICS can interface with RTGS systems through a customized interface format or through a messaging utility such as IBM MQ Series.
\\r\\n\\r\\n Real time gross settlement systems (RTGS) are funds transfer systems where transfer of money or securities takes place from one bank to another on a "real time" and on "gross" basis. Settlement in "real time" means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching or netting with any other transaction. Once processed, payments are final and irrevocable. \\r\\n\\r\\n
\\r\\n \\r\\n
\\r\\n We work closely with you to establish the accounting rules required by your institution. The system can accommodate a complex accounting structure that includes multiple operating accounts and detailed entries. The system will automatically generate accounting entries from your daily operations based on the accounting rules configured and create a daily or real-time export file.
\\r\\n\\r\\n MIMICS General Ledger System
\\r\\n Other general ledgers
MIMICS Portfolio Management software modules offer powerful and flexible out-of-the-box solutions for managing your business’ portfolio needs. Get up and running quickly with our software’s many configurable options that easily adapt for different international and accounting standards. An extensive list of standard interfaces integrates directly with our software. We have software modules that manage proprietary trading; customer’s trading; mutual, pension, and hedge funds; and foreign-exchange reserves.
\\r\\n\\r\\nMIMICS Process Flow Application is generalized so that any process can be tracked. It defines what steps\\r\\n are taken during any process. MIMICS Process Flow System allows the user to define the flow of a process with both automated\\r\\n and manual components. The user defines the events and decision points that occur during the flow and follow the transactions\\r\\n through the process. At each point a user will approve or disapprove the step determining the queue for verification\\r\\n by the decision makers at these points. For example during the approval step, if the user disapproves the transaction,\\r\\n the transaction will appear on another user's screen for processing. An email may be automatically generated with instruction\\r\\n regarding the transaction. At some points along the way reports may be generated during the process or data may be exported\\r\\n at these points. The user has a dashboard on which they can view the transactions in the various queues and, if they\\r\\n have authorization, can verify that the transaction has met the criteria of the event, passing the transaction along\\r\\n in the process flow. The system will create alerts to the user for action to be taken, including action for transaction\\r\\n that become stale in the queue.
\\r\\n\\r\\n\\r\\nWe want to set up a sales program based on leads generated from our website. Our website logs the prospect requests and passes them to our sales force. Our sales force calls the prospect and either makes a sale or adds the prospect to a call-back queue. This process is, of course, highly simplified but the flow is shown below.\\r\\n\\r\\n\\r\\n\\r\\n
![\\\"Process](\\\"assets/images/processflow.png\\\")
\\r\\n\\r\\n\\r\\n\\r\\n\\r\\n\\r\\n The whole process can be described as a series of events with choices that can be made. These events and optional choices\\r\\n include the queue to which the transaction is sent, what is to be printed, if anything, and what kind of alerts to set.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n The event is the basic unit in the Process Flow. The event defines when in the process something is to occur and is to be\\r\\n reviewed or approved. Various processes can occur within an event such as printing reports or adding additional data\\r\\n to the database. In addition, the \\\"manager(s)\\\" or person(s) responsible for each event is defined.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n The flow of events is defined by each event in the process. Each event defines the next event or events that can occur. For\\r\\n example, the next events to occur could be to approve the transaction and move it to the next event or to reject the\\r\\n transaction and send it back for further processing. The sum of all the events with their definition of the next events\\r\\n defines the flow of the process.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n When a transaction is sent to another event it can be sent with a special alert to the responsible party for that event.\\r\\n It will show up on the manager's dashboard as usual but a pop-up alert will appear on that person's screen.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n Reports can be defined for each of the events so that the manager of the event can print this user-defined report. It could\\r\\n be a status report, list of items in the queue or any other report created from the database.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n At each event, data can be entered to the database by way of a user-defined screen. Automatically, the status of the event\\r\\n is added to the database but, for example, the user may be expected to collect some information from a customer or prospect\\r\\n that will be added to the database.\\r\\n\\r\\n
\\r\\n\\r\\n\\r\\n\\r\\n Each user has a dashboard that shows their queue(s) of transactions. The person may be manager of several events so there\\r\\n will be several queues shown. By double-clicking a transaction in the queue, the transaction is passed to the subsequent\\r\\n event. The manager is also able to print reports or add more data from the dashboard. The administrator has a dashboard\\r\\n showing the status of all transactions and all queues for all managers for monitoring purposes.
\"","export default \"\\r\\n\\r\\n\\r\\nThe MIMICS Public Fund Deposit Collateralization is an optional feature of the MIMICS Repurchase Agreement Software.\\r\\n This feature will allow you to either manually enter or sweep in the balances of your public funds customer deposits.\\r\\n The system can collateralize the deposits automatically based on collateralization preferences, or you can collateralize\\r\\n the deposits manually. If you collateralize manually, you can pick the exact securities and quantities to pledge to the\\r\\n deposit. Confirmations disclosing the collateral pledged are produced from the system to be delivered to your customers.
\\r\\nPublic funds deposit collateral can be kept in a separate collateral pool (or pools) from the other Repo collateral, or you\\r\\n can utilize the same pool (or pools) of securities for both.
\\r\\nPlease see the MIMICS Repurchase Agreement system for more information on the general system\\r\\n functionality.\\r\\n
\\r\\n\\r\\n\\r\\n\"","export default \"\\r\\n\\r\\n\\r\\nMIMICS Purchasing Software provides all of the functions of the Purchasing department that interfaces to\\r\\n the MIMICS General Ledger or exports to other General Ledger systems. The system will\\r\\n initialize and update inventory as needed. The system will track inventory information such as the number of units available,\\r\\n the amount of inventory that is in stock, the amount pending for an order, and the price per unit. Vendor information\\r\\n is maintained; including vendor's tax ID, credit line, revolving and standard interest rates, and payment disposition.\\r\\n The system will keep track of each branch's purchase orders and fill purchase orders with authorization and requisition\\r\\n approval protected by passwords. Purchase orders and inventory can be printed or e-mailed separately or as a complete\\r\\n list. This system is an end-to-end solution that minimizes manual procedures.
\\r\\n\\r\\n\\r\\nThe MIMICS Real Estate Management Software tracks real estate owned by the financial institution from foreclosure\\r\\n or purchase through the eventual sale of the property. During the time that the property is held, the system handles\\r\\n the property management, appraisals, litigation and all other required procedures. The system contains a REO budgeting\\r\\n feature for full planning support. Contact us to find out how our software can handle all your needs.
\\r\\n\\r\\n\\r\\nInformation on the property location, mailing address, legal description, class of property, size of property, and description\\r\\n of any buildings is entered and is given an identifying number by which the property is referred for search purposes.\\r\\n Although the property identifying "number" is the major way of looking up a property, there are other methods\\r\\n for finding the property.
\\r\\nThe system keep data on the original borrower including tax ID number; original loan details; and details on the foreclosure\\r\\n including bids. Accounting for the foreclosures is handled according to user-defined accounting rules.
\\r\\nLitigation information is maintained including attorney data, judgments, etc. This information is kept historically in\\r\\n the case of long or multiple litigations. Complete information is kept on all attorneys involved.
\\r\\nThe system tracks lien amounts and the holders of the liens along with contact data.
\\r\\nAny number of inspections can be tracked by the system along with the results of each one. The system also keeps track\\r\\n of the dates of the inspections and the inspectors.
\\r\\nAny number of appraisals can be made with the system tracking the appraisers and the appraised values. It also keeps\\r\\n track of the values recommended and accepted.
\\r\\nInformation such as key map location, environmental impact, and ad hoc memos is kept by the system.\\r\\n
\\r\\nAny number of policies can be maintained for any type of insurance. The insurance companies and contact information is\\r\\n maintained as well as information on the insurance policies. The premium payments are maintained in a payment schedule.\\r\\n These payments due are managed and are kept as part of the property management expenses.
\\r\\nAll tax liabilities are maintained along with their scheduled payments. Taxing authorities are identified in the system.\\r\\n The system creates a tax schedule for each specific tax that is expensed in the MIMICS Property Management Module.
\\r\\nAll utility payments required to maintain the property are entered along with their respective schedules. Payments can\\r\\n be made through the MIMICS Property Management Module that keeps track of all revenues and expenses.
\\r\\nMultiple escrow accounts can be managed for each property. The feature manages all deposits to the escrow account. Escrow\\r\\n payments can be made from this account. These deposits and payments interface with the MIMICS Property Management\\r\\n Module.\\r\\n
\\r\\nThe system can manage the sale from listing the property; writing sales contracts; accepting or rejecting contracts;\\r\\n and finally closing the sale. Broker information is maintained as well as all contracts submitted by the broker and\\r\\n whether they were accepted or rejected. If a contract is accepted, the property is passed to the module that closes\\r\\n the sale. When a sale is closed, it can optionally be transferred, along with all terms, to the MIMICS Loan Management Module.\\r\\n
\\r\\nThe system can handle all aspects of property management from listing the property, managing lease/rental income, and\\r\\n managing all other revenues and expenses attributable to the property. There is a direct interface from the Insurance,\\r\\n Taxes, and Utilities modules to ensure payments are timely. Rental and Lease payments can be invoiced; are tracked\\r\\n for timely payments; can charge late fees; and can otherwise manage payments in detail. Any documents can be sent\\r\\n by encrypted email.\\r\\n
\\r\\nAll functions of the system can create accounting entries according to user-defined accounting rules. These entries can\\r\\n be exported to an external GL system or can be posted to the MIMICS General Ledger System that seamlessly integrates with all of MIMICS' systems.
\\r\\n\\r\\n The system includes user-defined accounting rules that create accounting entries. These entries can be used within the system\\r\\n or can be exported (by ACH and other formats) to external General Ledger systems. A budgeting feature allows you\\r\\n to create a budget for each of the REOs along with a report on budget variances.\\r\\n
\\r\\n\\r\\nAll checks can be printed by the system. Checks can be printed on blank check stock or on pre-printed check stock. Micr\\r\\n lines are printed. The system includes a complete check register for tracking the check clearing.
\\r\\nDocuments pertaining to the property can be scanned into the system to be saved in the database for retrieval. Documents\\r\\n created by the system are also saved with the property information.
\\r\\nThe MIMICS Reconciliation Software is used to reconcile cash balances, cash transactions, share balances, share transactions\\r\\n and any other fields between any two electronic files or sources, including from any other MIMICS software system. For\\r\\n example, the system may be used to reconcile the Share Balance between the MIMICS Customer Portfolio software system against an electronic file sent from a custodian. Contact us to find out how our software can handle all your needs.
\\r\\n\\r\\nThe user will set up specific recurring reconciliations that will, among other things, define the two source files to\\r\\n be reconciled to each other. Templates will be set up then for each source file to map the fields to be compared.\\r\\n In addition tolerances can be set up that will allow the system to do “close” matches: those that are\\r\\n not exact but are within the tolerances. The system can also check for transpositions and other “typos”\\r\\n on the source files.
\\r\\nSetting up reconciliation types allows the user to define, by a simple name, the specific reconciliation to be used.\\r\\n Associated with the Recon Type identifier is, among other things, a general definition of the two source files, referred\\r\\n to as A and B, and the fields to be reconciled.
\\r\\nThe user will define the fields which will be compared between A and B. The names for the fields are user-defined for\\r\\n ease of understanding. They do not have to be the same name that is used on either A or B since the names from an\\r\\n external source may be somewhat cryptic. The fields are described briefly with the type of field, e.g. character\\r\\n or number, and the field length for character data. For example there may be fields for Customer, Transaction Date,\\r\\n and Amount. These have the field types of Character, Date, and Number, respectively.
\\r\\nEach of the reconciliation criteria explained below will have a severity code associated with it. An exact match will\\r\\n have a severity code of zero. Any close match or other match may have an arbitrary code set that is greater than\\r\\n zero. The system will report the reconciliation by severity code to allow for easier analysis of the reconciliation.\\r\\n Non-matches do not have a severity code and are grouped separately.
\\r\\nFor each field, the user will then set the reconciliation criteria. There can be multiple criteria per field. The system\\r\\n can find exact matches; close matches for numeric fields; matches due to transposition, and others. Using the example\\r\\n of fields above, we may require the Customer to be and exact match, the Data to be an exact match, but we may want\\r\\n to treat the Amount differently. We can set an Exact Match with a severity code of zero while a close match that\\r\\n is within a 0.50 range may have a severity code of one. A transposition error may have a severity code of five.
\\r\\nAt this point the user will have to define templates for the two source files A and B. These files will be in either\\r\\n csv, text, spreadsheet, or MIMICS file format. The template is linked to the specific file name (or, for example,\\r\\n spreadsheet name). The system will examine the source file and will display the names of the fields available, e.g.,\\r\\n spreadsheet column headings. The fields to compare that were already defined in the Recon Field Definitions will\\r\\n also be displayed. The user will simply map the available fields to the recon fields to compare, by dragging and\\r\\n dropping one to the other to complete the template. After this has been accomplished for both A and B, the system\\r\\n is set up to do recurring reconciliations of the two files whose templates were defined and according to the reconciliation\\r\\n criteria defined.
\\r\\nThis procedure can be followed to set up any number of reconciliations. There may be multiple reconciliations for multiple\\r\\n cash accounts; for positions in multiple portfolios; for General Ledger transactions on multiple GLs, and any number\\r\\n of other recons. The setup for a recon is done only once. A recon process can be changed if the recon criteria are\\r\\n changed, if the input file formats change, or if you want to change the process in any other way. Other than this\\r\\n you will not have to go back to revisit the reconciliation type setup or the template setup.
\\r\\nThe reconciliation process has three basic steps: import source A, import source B, and run the reconciliation.
\\r\\nSince the template describing the source files A and B have been set up, simply navigate to the file, such as a spreadsheet,\\r\\n select the template, and click Import. The system will notify you of how many records have been imported. If you\\r\\n want, you can click the Test button in advance for the system to scan your spreadsheet to ensure it is compatible\\r\\n to the template. This process is then done for the other source file. you will have then prepared the data for the\\r\\n reconciliation. The data to be reconciled is now “locked in” to the system so that any change to the spreadsheet,\\r\\n in this case, will not be reflected in the reconciliation. If someone changes the spreadsheet due to an entry error,\\r\\n the spreadsheet can be re-imported. This maintains the integrity of the data. In this way the specific instance of\\r\\n the reconciliation is related to the data imported and no one can change this data for the recon. When the recon\\r\\n is verified, the user knows that any change to the underlying spreadsheet will not affect the recon results (which\\r\\n can also be “locked in”).
\\r\\nThe reconciliation is accomplished by selecting the recon type and clicking the Reconcile button. After the reconciliation\\r\\n is accomplished according to the selection criteria, the system will pop up a message with a summary of the results.\\r\\n It will report on the matches according to severity code as well as the number of non-matches. This is done by source\\r\\n file. The system keeps a copy of the reconciliation, the results, and the respective source data on file. Any number\\r\\n of reconciliation can be done on the same data if desired, each being saved with a time stamp.
\\r\\n\\r\\n The reconciliation will report matched items, near matches, and non-matches. The user can verify each of the system’s\\r\\n matches and can manually match unmatched items. Notes can be made at verification in order to explain the reason\\r\\n for matches. When all individual items are verified, the user can indicate a verification of the entire reconciliation.\\r\\n At that time the recon is ready for approval. The approver can either approve or reject the recon, adding notes for\\r\\n the reason for rejection. This will allow for an analysis of the differences.
\\r\\nOptionally, a workflow processing feature is available through the MIMICS Process Flow module that will allow for routing of the recon through different parties depending upon issues discovered either by the\\r\\n system or by a user. Email and message alerts can be set up to notify the proper person of their task in the recon\\r\\n process. Each user has a dashboard to view their queue of tasks to be accomplished. The system also has a supervisory\\r\\n dashboard where all elements of the process can be viewed.
\\r\\nThe Verification screen will show a grid with rows have a checkboxes that can be clicked to indicate verification. There\\r\\n is also a field in which the user can enter verification notes. When each row has been checked, the user can indicate\\r\\n that the full reconciliation has been verified and it will then be available to the approver.
\\r\\n\\r\\n The verifier may see an adjustment to the reconciliation. For example there may be two sets of records that are close matches\\r\\n by differing amounts. The verifier may want to match these differently. To do so the user drags on of the rows of,\\r\\n for example, A to the corresponding row of B. The other pair will be matched in the same way. In this way the system’s\\r\\n reconciliation can be overridden on a detail and even non-matches may be matched manually.
\\r\\nThe approver will have a screen that is similar to the verifiers’, showing the notes and the changes made by the verifier.\\r\\n The approver will be able to approve or reject the reconciliation. The approver can also write notes regarding the\\r\\n reconciliation, especially if it is rejected.
\\r\\nA report showing the results of the reconciliation can be printed. It shows the results by severity code. The exact matches\\r\\n and the close matches are grouped to easily see the match that was made. The non-matches are grouped by Source file.\\r\\n The information can be verified on this report or on the verification screen.
\\r\\n\\r\\nThe system has additional reporting that describes the setup, reconciliation history, and much more.
\\r\\nThe Reconciliation System interfaces with the MIMICS Process Flow module as well\\r\\n as any other MIMICS Systems with which the user wants to reconcile data.
\\r\\nThe MIMICS Reconciliation Software is very flexible so that your reconciliation needs are not limited only to reconciling\\r\\n to a MIMICS System. The system can run standalone or on a network.
\\r\\n\"","export default \"\\r\\n\\r\\n\\r\\nThe MIMICS Real Estate Owned Management Software fully processes REO properties from inception through final\\r\\n disposition. The basic information defining the property is entered along with the foreclosure data. Any legal information\\r\\n regarding associated litigation can be entered. While being held, the bank can manage the property, such as ensuring\\r\\n the property is kept up, that the building is winterized, etc. The system files all appraisals and inspections. They\\r\\n can be updated in preparation for selling the property. Real Estate listings are also managed until the eventual disposal\\r\\n of the property. The user can create an REO budget and the system will maintain complete financial statements. The system\\r\\n manages all transactions for the sale at which time the new loan can be transferred to the MIMICS Loan Processing Software Module.
\\r\\n\\r\\n\\r\\n\\r\\n MIMICS offers a wide array of web programming services, including:
\\r\\n\\r\\n
\\r\\n\\r\\n MIMICS uses various techniques to secure the websites it creates.
\\r\\n\\r\\n MIMICS always recommends the acquisition of an SSL Certificate for the domain of the website. An SSL (Secure Socket Layer)\\r\\n Certificate will allow the User's browser to validate the identity of the web site and then create an encrypted connection\\r\\n with the server. All information sent from the User's browser to the web server will then be encrypted and secure.
\\r\\n\\r\\n All MIMICS websites are password protected. The strength of the passwords can be determined by the MIMICS client. However,\\r\\n MIMICS recommends at least 6 characters, with at least one capital letter, one number, and one special character. The web\\r\\n site will not allow access without a password.
\\r\\n\\r\\n MIMICS can also utilize alternative authentication information, such as additional usage of bio-metrics or scan-cards. This\\r\\n possibility can be discussed with MIMICS.
\\r\\n\\r\\n Optionally, the website can also be made available only through a VPN connection. This option would only be used in the case\\r\\n when you have a fixed, limited set of customers who will need to access the website. It is not feasible when you have a\\r\\n non-fixed set of customers. However, if you use a VPN connection, the website would only be available within your own internal\\r\\n network, and not available to the full Internet. The VPN connection would facilitate a secure tunnel to your network to\\r\\n access the website.
\\r\\n\\r\\n MIMICS websites can also be configured with Timeout features. This will log a User off the website if there has been a period\\r\\n of inactivity. This will help avoid the possibility of another person getting on the User's computer after they have logged\\r\\n on to the site. The time before timing-out can be determined by the MIMICS client.
\\r\\n\\r\\n All MIMICS databases are fully encrypted. The only access to the data is through the website itself (or another MIMICS module).\\r\\n However, if the data were to be accessed by someone unauthorized, it would still be encrypted.
\\r\\n\\r\\n The data accessed by the website can also be placed on a different server than the one hosting the website itself. This further\\r\\n protects against the ability to access the data through any other method than the website.
\\r\\n\\r\\n The web server itself should be protected appropriately by the user of Routers, Hardware and Software Firewalls, and Anti-Virus\\r\\n software. This is usually handled by the IT department of the MIMICS Client.
\\r\\n\\r\\nAll MIMICS modules include functionality for setting up custom Accounting Rules that can produce accounting entries that post directly to the General Ledger. All products are multi-company, multi-branch, and multi-currency. MIMICS also offers a full accounting software suite that interfaces with any MIMICS or third-party applications.
\\nFor commercial banks, investment banks and credit unions of any size, the MIMICS Banking & Lending Engine automates many processes that interface seamlessly with your core processor to help increase productivity and get your operations moving at optimum efficiency.
\\n\\n\\n\\n We have moved from a highly-manual, risky process to a more streamlined, controlled, automated environment. In-line QC has been severely reduced along with overall cycle time.\\n
\\n \\n
Founded: 1988
\\nHeadquarters: McLean, VA
\\nAssets (2016): $357 Billion
\\nCustomer Accounts: More than 65 million
\\nEmployees: 47,300
\\nType of Business: Retail Banking, Credit Cards, Loans, Savings
\\n \\nThrough a self-analysis, banking giant Capital One identified 23 outstanding risks involved in the daily workflow of its $8 billion Commercial Investments and Billing department, particularly in the processing of its collateralized deposits and repurchase agreements (repos). Many critical procedures, such as collateral re-pricing, NACHA file editing and pledge notification creation were being performed manually on a half-dozen legacy applications with little to no support. The process was time-consuming, inefficient and inherently risk-laden with so many manual procedures.
\\nWith many different asset types and a complex array of functionality required, Capital One turned to a trusted source for a software solution. Having worked with MIMICS in the past, Capital One had confidence in their ability to customize their software to meet their specific needs, and securely automate many of these risky manual processes. After a successful implementation, Capital One was able to:
\\nCapital One was managing approximately $8 billion in assets on high-risk, legacy applications with little to no support. These applications handled the collateralization of deposits for government/municipal clients, as well as the processing of all Repo/Euro sweeps. The work was very labor intensive, requiring manual interface at each facet of the process. They found themselves spending an exceptional amount of time on in-line quality control, reconciliation and validation to ensure accuracy.\\n
\\nCapital One was also running one out-of-compliance server as well as the half-dozen high-risk legacy applications with limited to no support.
\\nThey sought a solution that could consolidate processes to streamline workflow, as well as automate many of time-consuming processes that were leaving them vulnerable to human error. Simply put, they wanted to simplify things safely and securely.
\\nHaving done their due diligence, Capital One knew that an “out-of-the-box” product did not exist to help them achieve all of their goals and chose MIMICS for their wide-ranging functionality and ability to customize their software. Capital One licensed the Repo, Fed Funds and Safekeeping modules, with functionality added for Public Funds Collateralization and Eurodollar. MIMICS worked very closely with the Capital One team to develop a tailored, personal solution that addressed each one of those 23 identified risks.
\\nMIMICS created custom code to “break” NACHA investments into smaller transactions automatically, thereby circumventing the $99 million limit. A daily automated file import replaced the manual interface previously used for monthly collateral re-pricing. Custom exports, such as a bank data warehouse, were developed. Pledge notifications became fully automated. 1099 data was automatically captured for all customers. And custom reports were created for downstream consumers to replace reports being manually created from source data.
\\nIn the end, the six legacy applications Capital One had employed were streamlined into one efficient system, greatly reducing overall processing steps. And the highly-manual, risk-prone environment was replaced by a controlled, largely automated one that significantly boosted productivity.
\\n\\n\\nImplementing the MIMICS solutions produced an annual cost savings of $60,000.
\\n
Shortly after the implementation, Capital One ran in-depth analytics to evaluate the impact of the software installation. Some of the results from their findings included:
\\nFounded: 1888
\\nHeadquarters: Columbus, GA
\\nNumber of locations: 280
\\nAssets (2016): $30.1 billion USD
\\nEmployees: 4,452 (est.)
\\nType of Business: Commercial bank
\\n \\nBy 1992, the National Bank of South Carolina had been a stalwart in the community for nearly nine decades.\\n Born in the back of a grocery store, and the only bank in the town of Sumter to survive the Great Depression,\\n the NBSC was no stranger to challenges. But with great growth comes even greater challenges; the bank\\n had swelled to a whopping thirty-six locations and nearly 400 employees, but its technology was not\\n growing with it. Many of the systems they used were dated, relying on manual processes and calculations.\\n To continue to thrive, the bank knew it would need to be techno-fitted for the 21st century.\\n
\\nAfter evaluating its options, NBSC licensed the MIMICS Banking & Lending Engine software. The Back Office module automates features such as processing security purchases\\n and sales, making payments and assisting in the delivery of the securities. It also calculates prices\\n and yields, and interfaces seamlessly with the general ledger. The Safekeeping and\\n Repo modules provided additional functionality that revitalized operations, streamlined\\n processes, and increased overall efficiency.
\\n \\nBorn of humble beginnings in 1905, the National Bank of South Carolina (NBSC) markets itself as “The bank\\n of here.” As with many slogans, the “here” could be universally applied to mean anywhere. But for NBSC,\\n it has a very specific meaning. But to truly appreciate the nuances of the motto, one has to understand\\n a brief history of its birthplace, Sumter, South Carolina, and what it means to be a gamecock.
\\nSumter, population 40,000, was named for the Revolutionary War hero Thomas Sumter. When Sumter’s house was\\n burned down by British troops under Bansatre Tarleton, he took it personally, and rallied the local militia\\n to take up arms. He then led this outnumbered but tenacious ragtag bunch in a brazen, blitzkrieg-like defeat\\n of Tarleton at the Battle of Blackstock’s Farm. A stunned Tarleton commented afterwards that Sumter had\\n “fought like a gamecock.” This became not only Sumter’s nickname and that of the University of South Carolina,\\n but also a statehood identifier. If you are from “here,” then you already know.
\\n\\n \\n\\nIt weathered recessions, two World Wars and was the only one of seven Sumter banks to survive the Great\\n Depression. But several decades later it would be put to the test again.
\\n
The NBSC was born of the same kind of resolve and perseverance as the town’s eponymous hero. Founded by a\\n railroad station worker in the back of grocery store in 1905, the bank moved its operations to the city\\n courthouse in 1907, building trust and a client base all the while. It weathered recessions, two World\\n Wars and was the only one of seven Sumter banks to survive the Great Depression. It was still the bank\\n of here. But several decades later it would be put to the test again.
\\nBy 1992, the bank had grown to a whopping thirty-six locations and nearly 400 employees, but its technology\\n was not growing with it. Many of the systems they used for calculating and processing could have been the\\n same ones used in the back of that grocery store so many years before. To continue to be here well into\\n the future, the bank knew it would need to be techno-fitted for the 21st century.
\\n\\n\\nBy 1992, the bank had grown to a whopping thirty-six locations and nearly 400 employees, but its technology\\n was not growing with it; the bank knew it would need to be techno-fitted for the 21st century.
\\n
After researching its options, the bank licensed the Banking & Lending Engine. The Back Office module automates features such as processing security purchases and sales, making payments and assisting\\n in the delivery of the securities. It also calculates prices and yields, and interfaces seamlessly with\\n the general ledger. This allowed the bank to streamline its overall operations and save time and labor.
\\nSeeing more opportunities for efficiency, the bank also licensed the MIMICS Safekeeping and Repo modules. In addition to processing interest and mortgage-backed security tickets,\\n Safekeeping automates pay-down and interest payment calculations, and calculates all fees. It also automatically\\n prepares and prints 1099s for all of the banks’ customers.
\\nThe Repo module added more utility, such as the capability to perform electronic sweeps\\n with various collateral for overnight or term repos. It also prints confirmations, statements, interest\\n payment tickets, checks and more automatically.
\\n\\n\\nThe combined functionality of the software optimized NBSC’s overall work efficiency, reducing labor by\\n over 50% while increasing on-time payments.
\\n
The combined functionality of the software optimized NBSC’s overall work efficiency, reducing labor by over\\n 50% while increasing on-time payments. This has given NBSC the flexibility it wants, with the reliability\\n and steadiness it needed to face a brave new banking world.
\\nIn February 1995, the $35 billion Synovus Financial Corporation acquired the National Bank of South Carolina,\\n though it has allowed it to remain relatively autonomous. The ongoing relationship between MIMICS and NBSC\\n has only grown stronger over the years, with NBSC since licensing additional systems including the Debt Management, Shared CD, Shared Money Market, Shared Trust Money Market Placement, Shared Outside Trust Money Market Placement and Shared IRA.
\\nThrough all the changes a century can throw at you, NBSC has adapted, weathered and grown. MIMICS congratulates\\n NBSC on its success and is proud to help ensure that “the bank of here” will continue to be so for a long,\\n long time to come.
\\nYou are the finger on the fiscal pulse of your nation; the last line of defense against disasters, and the first to step in during emergencies. You need financial software that provides optimal functionality and seamless interfacing, while understanding the many requirements and challenges unique to central banks.
\\nMIMICS has been working with central banks around the world for over a decade. The MIMICS Central Bank Engine is one of the only products on the market designed with your specific needs in mind:
\\n\\n\\n\\n Since 2004, The Central Bank of the Bahamas has engaged MIMICS to develop several automation solutions; through these, the bank has achieved greater efficiency in its operations, with the desired audit trails.\\n
\\n \\n
Founded: 1974
\\nHeadquarters: Nassau, Bahamas
\\nType of Business: Central Bank
\\nSince its inception in 1974, CBOB had been tracking its External Reserve Portfolio of roughly $1B USD in a labor-intensive\\n way, including sending SWIFT messages and creating reports manually. By 2004, the size and scope of the bank’s\\n holdings had grown to such a level that it was becoming a challenge to keep up. A systemic change was needed\\n to move operations forward.
\\nThe Central Bank of The Bahamas has previously licensed the MIMICS Public Debt Issuance to handle all government\\n bonds and treasury bills. Having already established a strong relationship, they came to MIMICS first when looking\\n for a solution to better handle its reserves. The MIMICS Central Bank Portfolio exceeded their specific requirements,\\n including an automated SWIFT and accounting interfaces, approval steps with full audit tracking, full cash management\\n tracking for operating accounts, real-time Reserve valuation, and detailed Central Bank-specific reporting. CBOB\\n has explored other areas of opportunity over the years, and now runs over ten MIMICS applications in its daily\\n operations.
\\n \\nCentral banks are unique enterprises. Largely anonymous, they operate as the unwavering caretaker of its nation’s finances,\\n anonymously and deftly cleaning up messes and propelling the country forward. Central bankers understand the nuances\\n of causality in finances on a grand scale, and always have a finger on the fiscal pulse. They serve as the last line\\n of defense against disasters, and the first to step in during emergencies. Central banks don’t work for profit margins\\n or bonuses; they work quietly and prudently for the people.
\\nIn 2004, The Central Bank of the Bahamas (CBOB) found itself in a conundrum. Since the inception of the institution\\n thirty years before, it had tracked billions of dollars of government bond issuances and payments manually. But the\\n inherent flaws of this system had started rearing their ugly heads more and more frequently. Some payments were being\\n processed late. Others were miscalculated. And still others slipped through the cracks entirely.\\n
\\n\\n\\nSome payments were being processed late. Others were miscalculated. And still others slipped through the cracks entirely.
\\n
The culprit was simply the archaic processing system itself that was keeping CBOB tied to the past. It relied heavily\\n on manual calculations and payment processing. These not only posed the very tangible risks of mathematical errors,\\n but were also eating up labor hours and under-utilizing employee skill sets. The process had served well in its time,\\n but it was clearly not the future.
\\n\\n\\n“It seemed that a systemic overhaul was needed—a scary thought when you are in charge of billions of dollars on a\\n daily basis.
\\n
It seemed that a systemic overhaul was needed—a scary thought when you are in charge of billions of dollars on a daily\\n basis. CBOB needed the functionality to handle stock, treasury bills and other quasi-governmental bonds accurately\\n and efficiently. It needed unfailing security, and, above all, it needed software that could conform to unique Bahaman\\n regulatory requirements.
\\nAfter extensive searching and a thorough due diligence period, CBOB licensed the MIMICS Public Debt Issuance software.\\n Along with all the functionality it required, the software provided additional capabilities such as automated cheque\\n and certificate printing and automated auction processing. And after a few easy customizations by MIMICS, the software\\n was fully tailored to comply with all local fiscal laws and regulations.
\\n\\n\\nAlong with all the functionality it required, the Public Debt Issuance software provided additional capabilities\\n such as automated cheque and certificate printing and automated auction processing.
\\n
Seeing real value in the software, CBOB later commissioned MIMICS’ help in other areas of opportunity, beginning with\\n a fully-integrated solution for the bank’s Foreign Currency Reserve Management. Over the years, they have added several\\n Central Bank modules, including Portfolio Management, Currency Management, Loan Management, Sinking Funds and Numismatic\\n Management.
\\nToday, over two dozen users at The Central Bank of the Bahamas utilize over ten MIMICS functions in their day-to-day\\n operations. MIMICS is proud to continue a long and healthy partnership with CBOB, and be here for them for any future\\n needs.
\\n\\n\\nToday, over two dozen users at the Central Bank of the Bahamas utilize fifteen MIMICS functions in their day-to-day\\n operations.
\\n
Whether you are a bank, brokerage, fund or investment manager, the MIMICS Investment Engine provides the functionality you require to streamline daily operations, increase productivity and to get you moving at optimum efficiency.
\\n\\n\\n\\n The MIMICS software could handle the firm’s full brokerage operations, including all calculations, payment processing and full accounting reports conforming to local tax regulations. And the whole system seamlessly interfaced with the general ledger.\\n
\\n \\n
Founded: 1878
\\nHeadquarters: Kingston, Jamaica
\\nRevenue (2015): $5.33 billion JMD
\\nType of Business: Brokerage
\\nThe 125-year-old brokerage was performing the bulk of price and yield calculations using software that was not\\n able to perform the specific needs of the firm, such as sending confirmations and accounting reports, and interfacing\\n with the general ledger. All this not only cost them efficiency and labor hours, but it also risked several instances\\n for calculation errors.
\\nAfter evaluating all options, VMWM licensed the MIMICS Investment Engine software. In addition to worry-free calculations\\n in any currency, the software also handles all payment processing and tracks everything while adhering to Jamaican\\n tax regulations. The software also produces full accounting reports set to user specifications, while interfacing\\n seamlessly with the general ledger. This cut out several “middle steps” that were being done manually, streamlining\\n the firm’s operations while saving them time and labor.
\\n \\nAlbert Einstein once said, “If at first the idea is not absurd, then there is no hope for it.” The Reverend G.W. Downer\\n of the Kingston Parish Church had a crazy idea in 1878 that if a segment of the Jamaican population he was active\\n in all pooled its resources, it could save enough collectively to acquire homes for all. It was scoffed at, rebuffed\\n and ridiculed, much like Einstein’s theory of relativity. They told him it wouldn’t work. They told him the community\\n would not pull together and sacrifice. They told him people would not share.
\\nUndaunted, he gathered a group of clergymen and founded the Victoria Mutual Building Society, whose mission was to\\n “meet the needs of the deserving thrifty.” But even with all his tenacity and vision, Downer himself probably never\\n envisioned that his idea of housing for all would eventually grow and morph into the fifteen-branch, multi-national\\n Victoria Mutual Wealth Management. And though they’ve changed names and expanded their overall scope, VMWM still\\n operates under Downer’s underlying principle that all Jamaicans can become proud homeowners.
\\nIn 2005, the bank had another radical idea—overhauling their calculating and processing systems, some of which actually\\n dated back to Dowden’s days. The bulk of price and yield calculations, confirmations and accounting reports were\\n being handled by inadequate software, which led to many manual processes picking up the slack. The software also\\n did not interface well with the general ledger.
\\nThis not only risked calculation errors, presented a clear opportunity to improve labor efficiency. The company had\\n experienced a lot of growth over the years, and the in-house systems it used in its general operations had simply\\n not kept pace with these changes.
\\n\\n\\nThe bulk of price and yield calculations, confirmations and accounting reports were being handled by inadequate software,\\n which led to many manual processes picking up the slack.
\\n
VMWM contacted MIMICS to look into some possible solutions to simplify the workflow. They needed something that could\\n handle their full brokerage operations, including all calculations and payment processing, while conforming to Jamaican\\n tax regulations. The MIMICS Customer Portfolio program could handle all these needs, while also providing full accounting\\n reports set to the user’s specifications. And the whole system seamlessly interfaced with the general ledger.
\\n\\n\\nThe MIMICS Customer Portfolio program could handle their full brokerage operations, including all calculations, payment\\n processing and full accounting reports conforming to Jamaican tax regulations. And the whole system seamlessly\\n interfaced with the general ledger.
\\n
MIMICS also demoed its Front Office module. This powerful program aids the sales side of the operation, providing “intelligent”\\n inventory lists, which enables users to give real-time quotes to customers. The system handles a wide variety of\\n securities, equities, fixed-income derivatives and equity derivatives. It tracks appointments and calls, and prompts\\n users when it is time to make one. And once a sale is made, it automatically sends the necessary data to the Back\\n Office program.
\\nVMWM licensed both products, and MIMICS performed an on-site implementation of the system, with full training for all\\n users. Work efficiency improved, labor hours were put to better use, and things began to run much more smoothly from\\n start to finish. The only “problem” was that seeing the new software in action was making some of VMWM’s other systems\\n look antiquated.
\\n\\n\\nThe only “problem” was that seeing the new software in action was making some of VMWM’s other systems look antiquated.
\\n
Shortly thereafter, VMWM licensed the MIMICS Equity Trading System, which tracks pending and completed equity buy/sell\\n orders, processes dividends and splits and tracks all fees and commissions. It was also custom-configured to interface\\n with the Jamaica Stock Exchange for order completion and pricing updates.
\\n\\n\\nThe MIMICS Equity Trading System, which tracks pending and completed equity buy/sell orders, processes dividends\\n and splits and tracks all fees and commissions, was also custom-configured to interface with the Jamaica Stock\\n Exchange.
\\n
VMWM later licensed several add-on modules, including the Watchlist System, which compares customer information against\\n criminal databases, and Know Your Customer, which saves additional demographic information about each customer, including\\n scanned identification and other document processing. They later added the Fund Portfolio to manage the portfolios\\n of securities, featuring automated check and confirmation printing capabilities. This interfaces perfectly with Mutual\\n Funds, which handles the customer side, including registrar, paying agent and transfer agent functionality.
\\nWith all of these systems now firmly in place, VMWM has become an even more well-oiled machine. MIMICS congratulates\\n them on their perseverance and adaptability over the years, and wishes them continued growth in the future.
\\nCentralize and manage all aspects of client communications including sales/marketing campaigns, and history of service across multiple MIMICS modules. Read More ^
\\nEnsures that your data and system is protected and can be fully accessed or restored in the event of catastrophe. Read More ^
\\nAllows customer forms such as confirmations and statements to be encrypted and emailed automatically. Read More ^
\\nA customized web interface that allows your customers to view history and to place requests, with the look and aesthetics to match your own website. Read More ^
\\nAllows secure, read-only access to aspects of the database of the related MIMICS module, for data mining or to allow you to create your own reports or exports. Read More ^
\\nIncludes functionality for general ledger, accounts receivable/payable, fixed assets, payment processing, purchasing and account reconciliation. Can interface with any other MIMICS module. Read More ^
\\n\\r\\n {{productObj.desc}}\\r\\n
\\r\\nYou deserve better financial software. We have been thoughtfully crafting intuitive, easy-to-use software for decades to give you more of what you want, less of what you don’t.
\\nSoftware should not be one-size-fits-all. We take the time to get to know what makes you you, so that we can customize our software to offer a product that is exactly to your specifications and intuitively easy to use.
\\nOur software does much of the “heavy lifting” of calculating, processing and automating to help greatly boost your productivity, streamline workflow operations and get you moving at optimal efficiency.
\\nBeyond the labor you will save with the wide-ranging functionality our software provides, our customizations give you more of what you want for a lower price than our competition.
\\nWe respect the sensitive nature of your information. That’s why we offer industry-exceeding security, including fully-encrypted databases and data tokenization.
\\nWe truly pride ourselves on our friendly, responsive customer support, day or night. We love our customers and strive for 100% client satisfaction. But don’t take our word for it; read what our actual users say.
\\n![\\\"...\\\"](\\\"/assets/images/Lincoln-Wildgrube.jpg\\\")
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\\n \\n\\n\\n \\n We are very happy with the MIMICS product that we are currently using. Our staff is very complimentary of the customer service\\n there, as well as the response time.\\n
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\\n\\n\\n \\n We are happy with MIMICS. The Repo system we use has been very stable and customer support is readily available if needed.\\n
\\n \\n
\\n\\n\\n \\n Software is very customizable, allowing us address needs and changes as they arise.\\n
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\\n\\n\\n \\n The method used prior to MIMICS' installation in 2004 was a manual ledger. I'd say 100% increase in efficiency!\\n
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\\n\\n\\n \\n After working with MIMICS for over 15 years, I can honestly say their customer service is above and beyond expectations.\\n Whether working on an upgrade to an existing product or requesting an additional service, the response time\\n is exceptional. The staff is always pleasant and accessible!\\n
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\\n\\n\\n \\n [MIMICS Item Collections system is] a top-of-the-line domestic item collections software that we not only use for form printing,\\n but also to balance to our general ledger account…we are very pleased with the quality of the product and the\\n service we receive.\\n
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\\n\\n\\n \\n Since 2004, the Central Bank of The Bahamas has engaged MIMICS to develop several solutions to automate the processing of\\n dormant accounts, to integrate cash management activities with straight-through processing capabilities, and\\n to provide bondholder accounting for its registrar activities. Through the automation of these activities,\\n the bank has achieved greater efficiency in its operations, with the desired audit trails.\\n
\\n\\n The Bank is pleased with the quality of service support delivered by MIMICS and its demonstrated commitment to ongoing product\\n enhancement in a cost-effective manner.\\n
\\n \\n
\\n\\n\\n \\n Saves on time both tracking collections and paying collections. It takes me about 5 minutes every time it is used, compared\\n to 30 to 1 hour-plus by hand.\\n
\\n \\n
\\n\\n\\n \\n The system is very efficient for our daily use. It functions exactly the way we need it to.\\n
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\\n\\n\\n \\n The Repo software completely automates the pledging of securities to our sweep customers and communicates to these customers\\n their daily positions.\\n
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\\n\\n\\n \\n Customer service is fantastic!\\n
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Born of the simple idea that your software should do exactly what you need it to do, MIMICS has been making customized\\n financial software solutions since 1976. We craft systems that interface seamlessly with one another as well\\n as with third-party programs to make your business operations run at optimum efficiency. Dedicated to customer\\n satisfaction, we offer remote or on-site installations, trainings and outstanding people support. We are a company\\n built on ingenuity and fueled by possibilities.\\n
\\n \\nWe appreciate that without our customers, we would never have made it this far, and we will never take them for\\n granted now or in the future. Ensuring that our customers are always well taken care of is a founding principle\\n of this company, and we will continue always with a customer-first state of mind.
\\nWe work hard to create a workplace that encourages inclusion, collaboration, respect and open communication.\\n We have fun together. We listen to one another. We work hard, but maintain a good work-life balance. We always\\n treat ourselves and customers with respect, and have no tolerance for intolerance or discrimination in any\\n form. We support, we help, we drive one another to succeed.
\\nWe strive to be leaders of the financial software industry. To us, this means thinking ahead, challenging and\\n pushing ourselves to be better, to do more. Asking questions like ‘How can we make this better for our customers?’\\n Trying new things and taking chances. We don’t want to keep up with technology, we want technology to follow\\n our lead.
\\nWe want our actions to match up with our core beliefs on a daily basis. We also understand the many facets of\\n integrity, from product design, to delivering customer satisfaction as promised, to acting financially responsible.\\n Our reputation has been built on integrity, and we will continue to bolster it with thoughtful intentions and\\n actions.
\\n\\n All of our software is fully customizable, and we work with you personally to tailor our programs to meet the individual\\n needs of your business. Our software will save you time and labor and increase your company’s overall efficiency.\\n
\\n\\n We have been creating software solutions for our clients for forty years now, continuously evolving to meet the demands of\\n an ever-changing technoscape. We offer more functionality and customizations than our competitors, at a\\n competitive price. And our product support and customer service are second-to-none.\\n
\\n\\n We appreciate that our clients often work daily with sensitive information, and the privacy and security of your data is\\n our top priority. We offer SSL (Secure Sockets Layer) and a highly-encrypted database that exceeds industry\\n standards. Also, vulnerable data such as Tax IDs and SSNs are only hosted locally and NEVER reach our database.\\n
\\n\\n We design our products with our customers in mind, making sure they are user-friendly and intuitive. We also full give full\\n tutorials at installation, and our customer service team is always available to help.\\n
\\n\\n Yes! We have clients all over the world, and we can customize any of our programs to be in full compliance of local statutes.\\n
\\n\\n Due to the customizable features, it is virtually impossible to say until we have a better idea of what your needs are. Of\\n course we are more than happy to provide free detailed quotes once we have more information. Annual maintenance\\n fees, as a rule of thumb, are approximately 15-20% of the license fees. Please contact sales@mimics.com\\n or fill out our contact card on the site.\\n
\\n\\n This will vary depending on the programs commissioned, the data conversion, specified customizations, interfacing and accounting\\n specifications unique to you. After we have a good idea of what you want, we can give you a more specific\\n quote, but the average is around 60 days.\\n
\\n\\n Absolutely! We offer live online demonstrations via Webex, and can schedule one at your convenience. We also offer on-site\\n demonstrations at any of our offices, and remote demonstrations if you prefer. For any one of these options,\\n please fill out our online contact card, or email us directly at sales@ememics.com.\\n
\\n\\n Of course! Due to the variety of specific arenas we operate in, we would just want to make sure we have enough information\\n so that we can put you in touch with an appropriate client. Please contact our sales team at sales@mimics.com\\n to facilitate.\\n
\\n\\n Great! You can contact us in whichever manner is most comfortable for you. We would just like some initial information as\\n to your specific needs and goals, and we can go from there. You can contact us via phone, email, or simply\\n fill out the contact card here on our site and we will be in touch shortly.\\n
\\n![](\\\"assets/images/MIMICSsquare.png\\\")
\\n \\n \\n \\n \\n \\n When you think about client satisfaction you obviously think of MIMICS' support. This is a blurb touting our success stories that disappears to make space for said stories
\\nFounded: 1998
\\nHeadquarters: London, UK
\\nRevenue (2016): 35.9 billion USD
\\nNumber of Employees: 223,468
\\nType of Business: Multinational Professional Services Network
\\nFounded: 1974
\\nHeadquarters: Nassau, Bahamas
\\nType of Business: Central Bank
\\nFounded: 1878
\\nHeadquarters: Kingston, Jamaica
\\nRevenue (2015): $5.33 billion JMD
\\nType of Business: Brokerage
\\nThe accounting firm juggernaut’s Jamaican branch was using several manual processes for calculations that ate up 80% of labor during a typical dividend run. As business continued to grow, processing times became longer and longer, and the strain on employees only increased the risks of costly accuracy errors and overpayments. PwC’s title of most prestigious accounting firm for seven years running was being put to the test.
\\nAfter evaluating all options, PwC licensed the MIMICS Shareholder Accounting software. In addition to worry-free calculations in any currency, the software could do in a matter of minutes what had previously taken its employees days to complete. The software tracks everything and produces reports automatically, while adhering to Jamaican tax regulations. Printing of certificates, checks and mailing labels was now fully automated, getting the firm processing at optimal speed.
\\n\\n\\nEstablishing a reputation of being the best means not only performing consistently, but also being able to recognize your own opportunities for improvement.
\\n \\n
It’s an old sports adage that defending a title is much harder than actually winning the first one. So for PwC (PricewaterhouseCoopers) to be named the “most prestigious accounting firm” in the world seven years running takes a total team effort. This is especially impressive given that PwC’s team is one that consists of over 200,000 employees operating in 157 countries. And as the company so personifies, being the best does not magically happen; it takes unwavering consistency, dedication and the ability to adapt.
\\nTake the shareholder payments at PwC Jamaica as a microcosm of the company. As the biggest stock transfer agent in Jamaica, they handle IPO processes, tax treaties and paying out dividends in dozens of different currencies to shareholders around the world. The coordination of all these moving parts required a meticulous attention to detail.
\\nHowever, as the number of clients and accounts continued to grow expand, the way the firm managed them had not. In fact, they estimated that the data manipulation alone for any given run of dividends ate up 80% of the labor hours, with the entire process taking days to complete. In addition to the liabilities of human error, there were also technical problems, such as corrections made in payment dispositions that were not being saved to the backup. In short, they knew there had to be a better way.
\\n\\n\\nHowever, as the number of clients and accounts continued to grow expand, the way the firm managed them had not. In fact, they estimated that the data manipulation alone for any given run of dividends ate up 80% of the labor hours, with the entire process taking days to complete. In addition to the liabilities of human error, there were also technical problems, such as corrections made in payment dispositions that were not being saved to the backup. In short, they knew there had to be a better way.
\\n \\n
PwC Jamaica contacted MIMICS in 2010 after hearing about its Shareholder Accounting software. The demonstration showed them that the powerful software can perform all of the calculations of a dividend payout in a fraction of the time, and in any specified currency. It also tracks everything and produces reports automatically. Checks can be automated instead of hand-written. And all of the data is backed up and secure.
\\nBut one overriding concern for the firm was how the product would work in accordance to Jamaican laws and tax regulations. Through a few easy customizations, the MIMICS software can be localized to comply with any sovereign and local ordinances. This means that anyone, anywhere in the world can use the software, tailored specifically to their needs.
\\n\\n\\nBut one overriding concern for the firm was how the product would work in accordance to Jamaican laws and tax regulations. Through a few easy customizations, the MIMICS software can be localized to comply with any sovereign and local ordinances. This means that anyone, anywhere in the world can use the software, tailored specifically to their needs.
\\n \\n
PwC licensed the MIMICS Shareholder Accounting software, and, after seeing the increased productivity and work efficiency in action, later licensed the Customer Relationship Management (CRM) module. This agile program records and manages contact information, sales and service communications and customer history. It also allows users from various departments to use the same software to manage existing clients.
\\nIn all, the implementations have been a huge success for PwC Jamaica, making them more streamlined and efficient. Establishing a reputation of being the best means not only performing consistently, but also being able to recognize your own opportunities for improvement. And being able to find the right partners to strengthen those areas is what truly sets the best of the best apart. MIMICS congratulates PwC on its continuing success and is proud to be a member of their winning team.
\\n\\n\\nCentral Banks are unique enterprises. They don’t work for profit margins or bonuses; they work quietly and prudently for the people.
\\n
Since its inception in 1974, CBOB had been tracking its External Reserve Portfolio of roughly $1B USD in a labor-intensive way, including sending SWIFT messages and creating reports manually. By 2004, the size and scope of the bank’s holdings had grown to such a level that it was becoming a challenge to keep up. A systemic change was needed to move operations forward.
\\nThe Central Bank of The Bahamas has previously licensed the MIMICS Public Debt Issuance to handle all government bonds and treasury bills. Having already established a strong relationship, they came to MIMICS first when looking for a solution to better handle its reserves. The MIMICS Central Bank Portfolio exceeded their specific requirements, including an automated SWIFT and accounting interfaces, approval steps with full audit tracking, full cash management tracking for operating accounts, real-time Reserve valuation, and detailed Central Bank-specific reporting. CBOB has explored other areas of opportunity over the years, and now runs over ten MIMICS applications in its daily operations.
\\n\\n\\n \\nSince 2004, The Central Bank of the Bahamas has engaged MIMICS to develop several automation solutions; through these, the bank has achieved greater efficiency in its operations, with the desired audit trails.
\\n \\n
Central banks are unique enterprises. Largely anonymous, they operate as the unwavering caretaker of its nation’s finances, anonymously and deftly cleaning up messes and propelling the country forward. Central bankers understand the nuances of causality in finances on a grand scale, and always have a finger on the fiscal pulse. They serve as the last line of defense against disasters, and the first to step in during emergencies. Central banks don’t work for profit margins or bonuses; they work quietly and prudently for the people.
\\nIn 2004, The Central Bank of the Bahamas (CBOB) found itself in a conundrum. Since the inception of the institution thirty years before, it had tracked billions of dollars of government bond issuances and payments manually. But the inherent flaws of this system had started rearing their ugly heads more and more frequently. Some payments were being processed late. Others were miscalculated. And still others slipped through the cracks entirely.
\\n\\n\\nSome payments were being processed late. Others were miscalculated. And still others slipped through the cracks entirely.
\\n \\n
The culprit was simply the archaic processing system itself that was keeping CBOB tied to the past. It relied heavily on manual calculations and payment processing. These not only posed the very tangible risks of mathematical errors, but were also eating up labor hours and under-utilizing employee skill sets. The process had served well in its time, but it was clearly not the future.
\\n\\n\\n“It seemed that a systemic overhaul was needed—a scary thought when you are in charge of billions of dollars on a daily basis.
\\n \\n
It seemed that a systemic overhaul was needed—a scary thought when you are in charge of billions of dollars on a daily basis. CBOB needed the functionality to handle stock, treasury bills and other quasi-governmental bonds accurately and efficiently. It needed unfailing security, and, above all, it needed software that could conform to unique Bahaman regulatory requirements.
\\nAfter extensive searching and a thorough due diligence period, CBOB licensed the MIMICS Public Debt Issuance software. Along with all the functionality it required, the software provided additional capabilities such as automated cheque and certificate printing and automated auction processing. And after a few easy customizations by MIMICS, the software was fully tailored to comply with all local fiscal laws and regulations.
\\n\\n\\nAlong with all the functionality it required, the Public Debt Issuance software provided additional capabilities such as automated cheque and certificate printing and automated auction processing.
\\n \\n
Seeing real value in the software, CBOB later commissioned MIMICS’ help in other areas of opportunity, beginning with a fully-integrated solution for the bank’s Foreign Currency Reserve Management. Over the years, they have added several Central Bank modules, including Portfolio Management, Currency Management, Loan Management, Sinking Funds and Numismatic Management.
\\nToday, over two dozen users at The Central Bank of the Bahamas utilize over ten MIMICS functions in their day-to-day operations. MIMICS is proud to continue a long and healthy partnership with CBOB, and be here for them for any future needs.
\\n\\n\\nToday, over two dozen users at the Central Bank of the Bahamas utilize fifteen MIMICS functions in their day-to-day operations.
\\n \\n
\\n\\nG.W. Downer had a crazy idea in 1878 that if the Jamaican population pooled its resources, it could save enough collectively to acquire homes for all. But even Downer never envisioned that his idea would grow and morph into the fifteen-branch, multi-national Victoria Mutual Wealth Management.
\\n
The 125-year-old brokerage was performing the bulk of price and yield calculations using software that was not able to perform the specific needs of the firm, such as sending confirmations and accounting reports, and interfacing with the general ledger. All this not only cost them efficiency and labor hours, but it also risked several instances for calculation errors.
\\nAfter evaluating all options, VMWM licensed the MIMICS Investment Engine software. In addition to worry-free calculations in any currency, the software also handles all payment processing and tracks everything while adhering to Jamaican tax regulations. The software also produces full accounting reports set to user specifications, while interfacing seamlessly with the general ledger. This cut out several “middle steps” that were being done manually, streamlining the firm’s operations while saving them time and labor.
\\nAlbert Einstein once said, “If at first the idea is not absurd, then there is no hope for it.” The Reverend G.W. Downer of the Kingston Parish Church had a crazy idea in 1878 that if a segment of the Jamaican population he was active in all pooled its resources, it could save enough collectively to acquire homes for all. It was scoffed at, rebuffed and ridiculed, much like Einstein’s theory of relativity. They told him it wouldn’t work. They told him the community would not pull together and sacrifice. They told him people would not share.
\\nUndaunted, he gathered a group of clergymen and founded the Victoria Mutual Building Society, whose mission was to “meet the needs of the deserving thrifty.” But even with all his tenacity and vision, Downer himself probably never envisioned that his idea of housing for all would eventually grow and morph into the fifteen-branch, multi-national Victoria Mutual Wealth Management. And though they’ve changed names and expanded their overall scope, VMWM still operates under Downer’s underlying principle that all Jamaicans can become proud homeowners.
\\nIn 2005, the bank had another radical idea—overhauling their calculating and processing systems, some of which actually dated back to Dowden’s days. The bulk of price and yield calculations, confirmations and accounting reports were being handled by inadequate software, which led to many manual processes picking up the slack. The software also did not interface well with the general ledger.
\\nThis not only risked calculation errors, presented a clear opportunity to improve labor efficiency. The company had experienced a lot of growth over the years, and the in-house systems it used in its general operations had simply not kept pace with these changes.
\\n\\n\\nThe bulk of price and yield calculations, confirmations and accounting reports were being handled by inadequate software, which led to many manual processes picking up the slack.
\\n \\n
VMWM contacted MIMICS to look into some possible solutions to simplify the workflow. They needed something that could handle their full brokerage operations, including all calculations and payment processing, while conforming to Jamaican tax regulations. The MIMICS Customer Portfolio program could handle all these needs, while also providing full accounting reports set to the user’s specifications. And the whole system seamlessly interfaced with the general ledger.
\\n\\n\\nThe MIMICS Customer Portfolio program could handle their full brokerage operations, including all calculations, payment processing and full accounting reports conforming to Jamaican tax regulations. And the whole system seamlessly interfaced with the general ledger.
\\n \\n
MIMICS also demoed its Front Office module. This powerful program aids the sales side of the operation, providing “intelligent” inventory lists, which enables users to give real-time quotes to customers. The system handles a wide variety of securities, equities, fixed-income derivatives and equity derivatives. It tracks appointments and calls, and prompts users when it is time to make one. And once a sale is made, it automatically sends the necessary data to the Back Office program.
\\nVMWM licensed both products, and MIMICS performed an on-site implementation of the system, with full training for all users. Work efficiency improved, labor hours were put to better use, and things began to run much more smoothly from start to finish. The only “problem” was that seeing the new software in action was making some of VMWM’s other systems look antiquated.
\\n\\n\\nThe only “problem” was that seeing the new software in action was making some of VMWM’s other systems look antiquated.
\\n \\n
Shortly thereafter, VMWM licensed the MIMICS Equity Trading System, which tracks pending and completed equity buy/sell orders, processes dividends and splits and tracks all fees and commissions. It was also custom-configured to interface with the Jamaica Stock Exchange for order completion and pricing updates.
\\n\\n\\nThe MIMICS Equity Trading System, which tracks pending and completed equity buy/sell orders, processes dividends and splits and tracks all fees and commissions, was also custom-configured to interface with the Jamaica Stock Exchange.
\\n \\n
VMWM later licensed several add-on modules, including the Watchlist System, which compares customer information against criminal databases, and Know Your Customer, which saves additional demographic information about each customer, including scanned identification and other document processing. They later added the Fund Portfolio to manage the portfolios of securities, featuring automated check and confirmation printing capabilities. This interfaces perfectly with Mutual Funds, which handles the customer side, including registrar, paying agent and transfer agent functionality.
\\nWith all of these systems now firmly in place, VMWM has become an even more well-oiled machine. MIMICS congratulates them on their perseverance and adaptability over the years, and wishes them continued growth in the future.
\\nSchedule a free demo: We’d love to show you how our software can help you in action. Demonstrations can be tailored to scenarios of your choosing with specifications unique to your needs. They are done online, recorded for your reference, and take about 1 hour. Contact us to set one up today!
\\nAll the functionality you require to streamline daily operations, increase productivity and to get you moving at optimum efficiency. The MIMICS Trust Engine is built for corporations, transfer agents, REIT managers, mutual fund managers, and bank trust departments.
\\n \\n \\n\\n\\n\\n\\n Most Prestigious Accounting Firm’ that was spending 80% of its labor on typical dividend run able to cut processing time to a matter of minutes with MIMICS Trust Engine.\\n
\\n \\n
Founded: 1998
\\nHeadquarters: London, UK
\\nRevenue (2016): 35.9 billion USD
\\nNumber of Employees: 223,468
\\nType of Business: Multinational Professional Services Network
\\n \\nThe accounting firm juggernaut’s Jamaican branch was using several manual processes for calculations that ate up 80% of labor during a typical dividend run. As business continued to grow, processing times became longer and longer, and the strain on employees only increased the risks of costly accuracy errors and overpayments. PwC’s title of most prestigious accounting firm for seven years running was being put to the test.
\\nAfter evaluating all options, PwC licensed the MIMICS Shareholder Accounting software. In addition to worry-free calculations in any currency, the software could do in a matter of minutes what had previously taken its employees days to complete. The software tracks everything and produces reports automatically, while adhering to Jamaican tax regulations. Printing of certificates, checks and mailing labels was now fully automated, getting the firm processing at optimal speed.
\\n \\nIt’s an old sports adage that defending a title is much harder than actually winning the first one. So for PwC (PricewaterhouseCoopers) to be named the “most prestigious accounting firm” in the world seven years running takes a total team effort. This is especially impressive given that PwC’s team is one that consists of over 200,000 employees operating in 157 countries. And as the company so personifies, being the best does not magically happen; it takes unwavering consistency, dedication and the ability to adapt.
\\nTake the shareholder payments at PwC Jamaica as a microcosm of the company. As the biggest stock transfer agent in Jamaica, they handle IPO processes, tax treaties and paying out dividends in dozens of different currencies to shareholders around the world. The coordination of all these moving parts required a meticulous attention to detail.
\\nHowever, as the number of clients and accounts continued to grow expand, the way the firm managed them had not. In fact, they estimated that the data manipulation alone for any given run of dividends ate up 80% of the labor hours, with the entire process taking days to complete. In addition to the liabilities of human error, there were also technical problems, such as corrections made in payment dispositions that were not being saved to the backup. In short, they knew there had to be a better way.
\\n\\n\\nThe data manipulation alone for any given run of dividends ate up 80% of his labor hours, with the entire process taking days to complete.
\\n
PwC Jamaica contacted MIMICS in 2010 after hearing about its Shareholder Accounting software. The demonstration showed them that the powerful software can perform all of the calculations of a dividend payout in a fraction of the time, and in any specified currency. It also tracks everything and produces reports automatically. Checks can be automated instead of hand-written. And all of the data is backed up and secure.
\\nBut one overriding concern for the firm was how the product would work in accordance to Jamaican laws and tax regulations. Through a few easy customizations, the MIMICS software can be localized to comply with any sovereign and local ordinances. This means that anyone, anywhere in the world can use the software, tailored specifically to their needs.
\\n\\n\\nThe Shareholder Accounting software could perform all of the calculations of a dividend payout in a fraction of the time in any specified currency.
\\n
PwC licensed the MIMICS Shareholder Accounting software, and, after seeing the increased productivity and work efficiency in action, later licensed the Customer Relationship Management (CRM) module. This agile program records and manages contact information, sales and service communications and customer history. It also allows users from various departments to use the same software to manage existing clients.
\\nIn all, the implementations have been a huge success for PwC Jamaica, making them more streamlined and efficient. Establishing a reputation of being the best means not only performing consistently, but also being able to recognize your own opportunities for improvement. And being able to find the right partners to strengthen those areas is what truly sets the best of the best apart. MIMICS congratulates PwC on its continuing success and is proud to be a member of their winning team.
\\n