The hosted ODP Manager software includes a letter template that allows financial institutions to inform customers of alternatives to fee-based overdraft coverage. These letters are sent to customers that have demonstrated excessive consumer Overdraft Privilege activity. FDIC regulated institutions are expected to give customers who overdraw their accounts on more than six occasions where a […]
The information displayed in ODP Manager is provided by an extract file from an institution’s core system. This file is updated after close of business and is imported daily into ODP Manager. Once the import has occurred successfully, the letters due and reports are updated with the information for the current as of date. A […]
Strunk’s ODP Manager hosted software includes a standard suite of reports that summarize the information from the most recent extract file imported. These reports can be used by management and by daily users to analyze ODP Program performance and assist with program compliance. The Summary Report includes totals for overdrawn and not overdrawn accounts, number […]
Part of effective use of the ODP Manager software is regularly reviewing, maintaining, and updating user records and access. ODP Manager users can be assigned four different roles for access to different features in the hosted software. Users who will need to access all software features but will not need to make administrative software setup […]
A Fresh Start Repayment Plan is a tool available to overdrawn customers that will allow them to repay the overdrawn balance in up to four payments and will also allow them to retain the use of their checking account. It also may help financial institutions recover and collect on accounts which may have otherwise charged […]
Strunk’s hosted ODP Manager software includes a suite of standard, recommended, and compliant letter templates. These templates are set up so users can easily generate the letters due each day. Even though Strunk provides the recommended letter content, the ODP Manager software allows the letter appearance to be customized to match other letters sent by […]
ODP Manager has a standard list of requested fields that are used in the recommended ODP Manager letter templates and reports. These fields are included in the extract file created by an institution’s core or report writer and are updated when the file is imported daily into ODP Manager. ODP Manager mappings are customizable and […]
The ODP Manager hosted software includes a suite of standard reports that are updated after each daily import. These reports can be viewed in the browser or exported to PDF or Excel. Reports for the most recent seven As of Dates are accessible. If an institution would like the option to review, analyze, or retain […]
Strunk recommends as a best practice that institutions provide a list of IP addresses or ranges that are permitted to access the Strunk software. This ensures that users not only have a valid username and password, but also are logging into the software from an allowed IP address. Strunk can configure this feature once an […]
On consumer accounts, ATM and everyday debit card transactions cannot be included in Overdraft Privilege unless the customer has opted in. Customers can opt in for Reg E at account opening but they may also opt in later. The four options to opt in for the ATM and everyday debit card coverage are: in person […]
An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.
