A multi-sided platform for multiple banks, branches, currencies, countries, languages, user interfaces, etc...

UNION is a product centric general ledger and accounting based banking solution featuring simultaneous handling of more than one financial application and database within one platform.

The system is a multi-sided platform in order to facilitate number of banking products and functionalities such as current accounts, overdrafts, lending, time deposits, currency exchange, cash and treasury management, domestic and international payments,  money transfers, accounting, reporting etc.

Multi institutional approach covers different business units such as banking, leasing, branch offices etc. in one country or bank affiliates even from different countries. It supports handling of several legal units or intermediate companies in one system.

Product configuration and product templates


Product templates are designed for the configuration and definition purposes per product group. Available product groups are current accounts, payments, loans, time deposits, foreign exchange etc. Every product group has a user interface in order to define particular product parameters, limitations and default values. In addition, product template facilitates definition of price lists (fees and interest rates depending on the product group) which is a combination of product name, currency and customer segment. There is a possibility to define personalised price lists at a single customer level.

Product template also contains definitions for the accounting business name and participating ledger accounts with the reference of the locations of accounts in chart of accounts in order to satisfy IFRS regulations for the different accounting methods and balance sheet subdivisions.

Product configuration and definitions are set up separately for every virtual company (i.e. configured bank or legal unit in the system) and data in database (customer register, accounts and transactions, customer contracts, price lists etc) is virtualised for every bank in the system to provide environment for different countries and businesses.

Functionality scope


Program modules are responsible for the functionality of the banking business in the system. Unlike the virtualised data and configuration parameters, program modules are the same for virtual companies thereby providing stable and effective environment. Most of the business logic is implemented at the Oracle RDBMS level as stored packages, procedures, functions, triggers etc. Multi language translation, user data validation and action control is realised at the user interface level. At the product group level, the functionality is grouped into functionality packages such as:


  1. Customer register, customer segmentsUNION_Customers_Info
  2. Current accounts and overdrafts
  3. Intra bank, domestic, international and SEPA payments
  4. Time deposits
  5. Lending
  6. Foreign exchange
  7. Bank guarantees
  8. Accounting, Chart of accounts, interest calculation
  9. Product configuration and price lists
  10. Administration, user rights, operational risk management
  11. Automatic End-of-day processes
  12. Internet bank
  13. MIS and Central Bank Reporting, AML monitoring

Basic characteristics


  1. Virtualised financial system providing same modules, functionality and services for every bank in the system, with separated data and configurations
  2. Services and banking products are configurable for every bank separately
  3. Financial accounting method is used to handle all financial transactions in the system. Multi currency accounting. Balance sheet, profit and loss statements. Real time open currency positions. Liquidity and cash flow, interest gap, maturity gap reports.
  4. Integrated system is based on the “straight through” principle – transactions are processed online in real time.
  5. Product centric approach at the level of every customer and customer agreement processed in general ledger enable high quality auditing. Product templates. Personalised price-lists.

Competitive advantages


UNION multibanking approach provides cost effectiveness

  • Multicompany approach enables to share both IT operational costs and also business support function costs
  • Better business scalability and handling peaks of usage by sharing hardware
  • Moderate investments into hardware and software

UNION offers sustainable and rapid product development

  • Open source approach (Linux, Python, cx_Oracle, ReportLab)
  • Short implementation schedules due to modern technology(jQuery + plugins, AJAX, AIREM mcore)

UNION offers product knowledge and business support

  • Excellent knowledge of today’s digital self service channels
  • Product life-cycle support by handling tedious business functions
  • Business consultation and marketing support

Let's create financial world.