The Global Entity Online System (GEOS) is a sophisticated online banking system and GEOS software developed by Software Daten Service in Vienna, Austria. Launched in 1998, GEOS is designed to handle the processing and management of securities efficiently. This GEOS operating system is widely used by prominent financial institutions across Europe, including Bank Austria, Raiffeisen Österreich, HSBC Trinkaus, UniCredit Țiriac Bank in Romania, and Banque et Caisse d’Épargne de l’État in Luxembourg. Remarkably, it manages around 80% of Austria’s securities market.

GEOS is equipped with robust GEOS features that facilitate Straight Through Processing (STP), a method that streamlines the transaction process by enabling the direct electronic transfer of information between parties, minimizing the need for repetitive manual data entry. This feature is crucial for speeding up financial transactions and increasing accuracy.

In terms of GEOS applications, the system supports a wide range of financial activities, including position keeping, order management, and the comprehensive management of financial instruments. It covers processes such as corporate actions for dividend payments, clearing, settlement, and handling securities orders. These functionalities make GEOS a versatile and essential tool for financial institutions dealing with securities and related transactions.

What is GEOS used for?

GEOS, or the Global Entity Online System is designed to facilitate Straight Through Processing (STP), which speeds up the transaction process by allowing electronically entered information to be transferred directly between parties without manual re-entry. This helps in reducing errors and improving efficiency in financial transactions. GEOS handles a variety of tasks such as position keeping, order management, and the management of financial instruments. It supports processes ranging from corporate actions, like dividend payments, to clearing and settlement of securities orders​.

GEOS also includes specialized applications for the GEOS SOS Service used with Iridium devices, providing emergency services and support. This aspect of GEOS helps users, especially those in remote or critical situations, by enabling emergency communication and assistance​.

Also Check –

• Top 10 Online Video Platforms 2024 (Best Quality and Free)
• 5 Best Motherboards for 2024
• What is MIDI (Musical Instrument Digital Interface)? Definition and Uses
• What is Microsoft Outlook?

How to use GEOS Operating System?

To use the GEOS Operating System, follow these steps:

1. Installation and Setup

• First, acquire the GEOS operating system, which might involve downloading it from a trusted source or using original installation media if available. For modern use, you can also run GEOS on emulators designed for older systems like the Commodore 64 or PC compatibles.
• If using an emulator, configure it to match the hardware specifications required by GEOS. This includes setting up the correct amount of RAM, enabling necessary peripherals like mouse and keyboard support, and ensuring proper disk drive settings.

2. Basic Navigation and Operations

• GEOS features a graphical user interface (GUI) similar to early versions of Windows or Mac OS. It includes windows, icons, and menus, making it relatively user-friendly. You can navigate the interface using a mouse or keyboard.
• GEOS includes a suite of applications such as geoWrite (a word processor), geoPaint (a graphics editor), and geoCalc (a spreadsheet program). To launch an application, simply double-click its icon on the desktop.

3. File Management and Printing

• Use the file management tools provided by GEOS to create, open, save, and organize your files. The system supports various file formats and can work with different storage devices, including floppy disks.
• GEOS supports multiple printers, including modern ones through specific drivers or interfaces. You can print documents directly from applications like geoWrite or geoPaint.

4. Advanced Features

• For financial institutions using GEOS for securities management, the system supports Straight Through Processing (STP), allowing efficient handling of transactions without manual re-entry.
• Users can customize the operating environment and add additional software packages, depending on the specific needs and the version of GEOS being used.

Benefits of GEOS for businesses

The Global Entity Online System (GEOS) offers several benefits for businesses, particularly in the financial sector:

1. Efficient Transaction Processing: GEOS supports Straight Through Processing (STP), allowing for the swift and accurate electronic transfer of transaction information. This reduces manual entry errors and speeds up transaction settlements, making it ideal for financial institutions handling large volumes of securities transactions.
2. Comprehensive Management of Financial Instruments: GEOS provides tools for managing various financial instruments, including order management, position keeping, and corporate actions like dividend payments. This comprehensive functionality supports a wide range of business needs in the financial sector.
3. Integration with Advanced Technologies: The system integrates well with other technologies and tools, enhancing its utility in areas such as digital twins, GIS, and data analytics. This is particularly beneficial for businesses looking to leverage geospatial data and insights for decision-making and operational efficiency​.
4. Scalability and Flexibility: GEOS is adaptable to different business sizes and types, from small enterprises to large multinational corporations. It supports a wide range of business processes and can be customized to meet specific business needs, such as infrastructure management or environmental compliance reporting​.

GEOS vs other Operating Systems