An American Bank Personal Loan Custody Application

The largest commercial bank in the United States and one of the People's Republic of China 'Big Four' banks partnered together in the personal banking business area. In May, 2006, the American bank sold its personal loan business to a Shanghai Branch of the Chinese bank. Through this agreement, the previous clients of the American bank became clients of the major Chinese bank. Due to the differences in the interest computation methodology used by the U.S. bank from its counterpart in China, a new system was required. The Chinese bank needed to develop an interest computation system to use besides its existing solution in order to host existing clients from the U.S. bank. The new system developed will process the daily loan business according to the U.S. banking standard, which includes the ability for loading information from applications, mortgage, early maturity, the U.S. Federal interest rate changes and more.

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