Over 1,300 separate types of demand deposit accounts may be defined as interest-bearing, non-interest bearing, or savings accounts. Once defined, any factor of an account type can be easily changed at any time and will become effective immediately.
Account Analysis – any account, or group of accounts, where you define the cost and credit factors, may be placed on account analysis.
Automatic Funds Transfer – regular transactions from a deposit account to any other customer account can be set to process automatically.
Combined Statements – combined statements contain information about other accounts a customer may have with your institution. Any account may be included or excluded on the combined statement.
File Maintenance History – all non-monetary file changes are recorded in a history file that is available for online viewing. Specific data includes the date and time of the change, the ID of the person making the change, and the value of the field before and after the change.
Float – float is determined by analysis of transit/routing numbers of deposited items and is “rolled down” during processing. This occurs after the deposit is initially processed.
Four-Quarter History – a four-quarter history is tracked for average ledger, average collected balances, and the number of times the customer had insufficient funds and overdrafts. History Retention – statement transactions are retained online for a minimum of 60 days.
Home Equity Checking – multiple types of home equity plans are supported. Payments to this type of account may be debited from any demand or savings account.
Kite Suspect Analysis – kite suspects are identified when the number of credits to an account is excessive and the variance of average collected balance to average ledger balance is significant.
Multi-Level Cash Sweep – cash sweep operations are performed from demand accounts to other deposit or loan type accounts. Multiple accounts may sweep into or out of a single target account. Float may be swept with the balance.
On-line Re-entry of Unposted Items– unposted items may be resolved without sending them back through proof. You may decide to pay or not pay, generate a notice and assess an insufficient funds/overdraft charge by use of this online feature.
Overdraft Protection– multiple types of overdraft protection plans are user-defined. Each type may have different numbers of grace days, methods of payment calculation, method for advancement of funds, annual or monthly fees, and interest rates.
Rate Change History– all types of statements provide complete history of rate changes which occurred during the statement cycle.
Service Charge Modeling– new or existing account types may be used to forecast changes in income which might result from changes to service charge parameters. Modeling is done without disturbing current data.
Split-Rate Accruals – any account type may be defined to accrue “segments” of the balance at different rates.
Tiered Accruals – any account type may be defined to use different rates for accrual, depending upon balance.
User Defined Defaults for New Accounts – all new-account entry defaults may be changed in the type level parameter.
Exception Item Processing
The Exception Item Processing (EIP) application supports processing of unposted items for DDA, CDs, savings and Christmas Clubs. It is also used to process charge backs (returned deposited items), insufficient items, and stop pay suspects. EIP is a convenient place to work all exception items on a daily basis. The data entry and daily processing is governed by parameter files. EIP eliminates the need to write up transactions and offsetting entries, thus reducing the amount of time spent handling these items. Notices are generated for the customer explaining why the item was returned or charged back.