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The Intelligent Limit System (ILS) by Velocity Solutions is an overdraft management and reporting system that provides users with automated tools to manage overdraft services as a line of business while satisfying regulatory guidance. ILS requires the financial institution to create four files daily by extracting certain data from DNA®. The four files are the Daily Account File, Debit Decline File, 1st Notice File, and Adjustments File.
The Velocity ILS Interface DNAapp automatically creates these four required files, enabling users to streamline their use of this third-party system.
Key Benefits:
ILS sets overdraft limits at the checking account level. Setting limits on individual accounts will allow your financial institution to pay more items and generate fee income. The Velocity ILS Interface DNAapp will allow your financial institution to easily create the files necessary to use the ILS system more efficiently.
This application contains four batch executables that should be run daily.
Daily Account File
This file contains all checking/share draft accounts. If choosing to include closed accounts, it will only include accounts that have closed within the last sixty days. The file is created in the queue directory using the file name that is entered into the “Output File Name” parameter.
Debit Decline File
This file contains all checking/share draft accounts that have had a debit card transaction declined due to insufficient funds as of the date entered in the “Effective Date” parameter. The file is created in the queue directory using the file name that is entered into the “Output File Name” parameter.
1st Notice File
This file contains accounts that had insufficient funds to process a transaction as of the date entered in the “Effective Date” parameter, whether the item was paid or returned and whether a fee was charged or not. The file is created in the queue directory using the file name that is entered into the “Output File Name” parameter.
Adjustments File
This file contains all checking/share draft accounts that have had an NSF/OD fee refunded, a charge off of the negative balance, or a recovery of a charged off amount as of the date entered in the “Effective Date” parameter. It can optionally include continuous overdraft fees if the financial institution opts to include them in the file (based on the value entered in the “Use Continuous OD Fee” parameter). The file is created in the queue directory using the file name that is entered into the “Output File Name” parameter.
For financial institutions who are using Fiserv’s Negative Deposit Balance Chargeoff feature or who use specific transaction codes to process charge offs and recoveries, for charge offs the program will look for the Rtxntypcds entered in the “Transactions to Process”, “External Tran Code”, “Type 2 String”, and “Type 3 String” parameters. For recoveries the program will look for the Rtxntypcds entered in the “Recovery RTXNTYP Sustained Fee“, “Recovery RTXNTYP for Misc Fees“, “Recovery RTXNTYP for NSF Fees”, and “Type 1 String” parameters.
For financial institutions who are not using Fiserv’s Negative Deposit Balance Chargeoff feature, for charge offs and recoveries, the program will look for entries made to the corresponding GL account numbers entered in the “Deposit ChargeOff GL Acct(s)” and “Account Number(s) to Include” parameters. It was designed such that there is one GL account number for principal balances charged off or recovered (entered in the “Deposit ChargeOff GL Acct(s)” parameter) and another GL account number for the fees that were charged off or recovered (entered in the “Account Number(s) to Include” parameter). For charge offs, the program uses the Parentacctnbr from the RTXN table as the account being charged off. For recoveries it is expected that the Account Number of the checking account being recovered be entered in the description of the GL transaction. It will not differentiate which type of fee is being charged off or recovered. All fees will be considered NSF Fees.
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- DNA® release level 4.x
- The Financial Institution must have a way to import the limit file from Velocity Solutions to DNA such as the PS_PODUPLD applications from Fiserv Custom Solutions.
- The Financial Institution must have an overdraft solution within DNA® such as the Premium Overdraft Protection Program from Fiserv Custom Solutions.
- Requires purchase or subscription to a third-party solution. Third-party solution is not included in the price of this app.
◦This DNAapp has been designed to work with Intelligent Limit System® Overdraft Management solution from Velocity Solutions®
Note: Changes by third-party vendors to their systems, files and integration approaches that impact the functionality of this DNAapp may not be covered under maintenance.
Note: Contact your third-party solution provider for instructions on configuring your third-party solution to accept and process the extract file(s) created by this DNAapp.
Version Information:
1.0.0.11 Published - March 2019
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