Overdraft Privilege can be the largest producer of fee income for your financial institution. Think of all the features within ODP Manager as pieces of a puzzle that must all be present in order for you to manage your program successfully!
Did you know that there is a Library in ODP Manager that will provide you recommended, compliant letters and policies? By using Strunk’s templates and generating letters as due in ODP Manager, you are facilitating your program compliance. You also have access to links to all applicable laws an regulations for quick reference.
ODP Manager can also help you more effectively manage your Fresh Start Loan program. Generate collection letters that advise your account holders about the option of a Fresh Start Loan. Create the Fresh Start Loan Agreement using the account data already in ODP Manager. Track repayment plans and use payment reminders to monitor when payments should be received all within the application.
Make sure you routinely monitor the management reports in ODP Manager that summarize your Overdraft Privilege program performance. Use the Summary Report to monitor trends in your NSF and OD Fees and Refunds.
The Account Inquiry section of the software allows filtering, sorting, and exporting of your account details. It also includes standard groups that help you identify accounts to review. Use the Call List group to contact your overdrawn accounts prior to their next collection letter.
Let ODP Manager help you get the most benefit from your Overdraft Privilege program!