Managing the collateralization of public deposits can be very time consuming. Save significant hours and eliminate errors with Collateralized Deposit ManagerTM
The Windows-based software is a stand-alone application that resides on PCs in your facility. Collateralized Deposit balance updates take only minutes, with customer balances and other data imported using a simple file format regardless of your core application. The market value of securities held as collateral is updated by you and the software automatically allocates customer balances as mandated by regulators to securities pledged.
Collateralized Deposit ManagerTM automatically produces the Collateralized Deposit confirmations in a PDF format and can automatically email (secured with 128-bit encryption) the report to customers. Collateralized Deposit ManagerTM also produces and sends the account and securities reports by encrypted E-mail to the third-party fiduciary that holds the collateral and acts as an agent on behalf of your customers. The system then automatically creates and archives annual disclosures and other notices for as many years as your policies deem necessary, which makes the program easily auditable.
The Collateralized Deposit ManagerTM application does not connect directly to your core system – eliminating data security concerns. Instead, it imports data from a core system generated CSV file that includes customer balances and other data. In a matter of seconds, the Collateralized Deposit ManagerTM application determines the Collateralized Deposit balances and available collateral, and properly allocates that collateral to protect the customer.
The Collateralized Deposit ManagerTM solution also includes support – with answers to your technical and operational questions only a phone call away.