ICBA/IMPACT Overdraft Solutions can help your bank create and sustain overdraft fee income and improve account holder loyalty by utilizing IMPACT’s overdraft consulting experience, expertise and technology to manage risk while ensuring legal and regulatory compliance.

Objective:  To integrate IOS into bank’s operation within a 45 – 90 day window from the initial exchange of operational information, utilizing a joint team from both organizations that is task organized to accomplish the mission.  The IOS is designed to facilitate pre-collection and collection efforts, identify risk and excessive use, and manage account holder communications regarding the service.  Here’s what we do for your bank:

Discovery Process

• In-depth analysis of current overdraft systems
• Recommendations for improvement and further automation
• Overdraft compliance review

Initial Strategy Meeting

• Review and establish account holder eligibility criteria
• Review and establish program criteria
• Determine overdraft business rules
• Discuss compliance findings and make recommendations
• Documentation of policy, disclosures and customer awareness materials

Core Data Extract Files

• Coordinate creation of daily data extract file with core
• Establish procedures for acquiring daily extract file from bank’s core system, and automating where possible

Install Overdraft Manager 3.0 Software

• Testing of extract file and data analysis
• Test software process functionality
• Facilitate determination of customer eligibility and generation of activation letters

Training

• All employee awareness and informational training
• Specialized call center and contact employee training
• IOS process specific operational training
• Staff effectiveness testing
• New employee orientation via web or DVD
• On Demand web based supplemental training
• Webinar and user group meetings

Customer Awareness Materials Delivered

• Announcement Letter & Disclosures
• Lobby Materials, posters, counter cards (no cost)
• Brochures & stuffers (optional)

Ongoing Support & Services

• Review program performance standards
• Technology support via phone and web
• Training support
• Compliance reviews and recommendations
• Peer group analysis