Settlements and Payments departments need to be able to keep a close watch on NOSTRO cash flows. Methods within MIDAS provide limited information, which further needs to be manipulated and interpreted to be of practical use. The Automated Real-Time Nostro Positions Reporting system provides additional features and flexibility for the responsible areas to quickly see the important information in a clear and concise format.
The system extracts details of nostro movements from the CitySoft Real-time Cash flow file for nostros defined within the Midas system. These can then be displayed either on the screen, printed or downloaded to EXCEL for easier number crunching by the end user.
A facility is also available to add manual entries to show in the report or displays. These manual entries are only used in the Cash Flow reporting and will not change any Midas files.
The opening balance of any day for any NOSTRO can be input to show the net effect of movements for that day.
Should it prove necessary, the amount on the particular movement can be overridden to reflect the actual amount of cash to be paid or received.
The initial cash flow reporting file is automatically set-up in the Midas Close of Business processing and new transactions input to Midas are monitored during the day and immediately reflected in these files. Information is taken directly from the Midas database to avoid duplication of user input.