A Fresh Start Repayment Plan is a tool available to overdrawn customers that will allow them to repay the overdrawn balance in up to 4 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 […]
Access to a document library that includes Strunk’s recommended, compliant letters and policies is included with Strunk’s hosted ODP Manager software. Users can log in and review the recommended documents and compare them to letters currently set up in the ODP Manager software. The hosted software makes it easy to log in and review active […]
The reports included in the hosted ODP Manager software should be used to support and encourage strong Overdraft Privilege program performance and compliance. By reviewing each report at the recommended interval, users can monitor and compare performance metrics over time. On a daily basis, reports that address the addition and removal of overdraft limits should […]
ODP Manager includes the ability to review the account level information for each account that has been imported into ODP Manager from your daily extract file. By using the Account Inquiry section in the hosted software, an institution’s users can view multiple accounts or details of a single account. In Account Inquiry, users can select […]
As part of the daily use of the hosted ODP Manager software, users may generate or review documents such as letters or reports. ODP Manager includes features that make it easier for these documents to be retained for future reference. Each time a user generates a letter, a PDF of the letter is saved and […]
After the daily import of information in the extract file from your core processor, the Letters, Reports, and Account Inquiry sections of ODP Manager are updated. In addition to this updated information, the hosted software also allows you to add additional information about repayment plans manually to facilitate monitoring of account’s Fresh Start Loan payments. […]
ODP Manager depends on updated information from an extract file created by your core processor. This daily file is imported and updates the hosted ODP Manager software so that letters can be generated, and reports reviewed. Each user of the software can manually import this extract file by selecting the file to upload and committing […]
ODP Manager helps you distribute your Consent Form for Overdraft Services to your customers that have not already opted in for Reg E by including the opt in form with Welcome letters, Reinstatement letters, and the Reg E Opt-in Followup letter. This makes it easy for customers that would like to opt in by mail, […]
Financial institutions are expected to monitor excessive consumer Overdraft Privilege usage to inform customers of additional available options for overdraft protection. These options could be an Overdraft Protection Credit Line or an Overdraft Protection Transfer from another account with the financial institution. FDIC regulated institutions are expected to give customers who overdraw their accounts on […]
One major benefit of the hosted ODP Manager software is access to the software’s advanced history tracking. Key account events are tracked in the system and are searchable. When the daily extract file from the core system is imported into ODP Manager, significant account status changes are tracked. Is the account newly overdrawn or now […]
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.
