1.2.5 Corporate Accounts (Current/Checking and Savings)

This topic provides information about enhancements in the Corporate Accounts.

CAMT.053 Statements

Statement generation now includes the generation of CAMT.053 Statement for Corporate Accounts.

Enhancement in the Dormancy Feature

The Dormancy feature allows Banks to process the dormancy state of an account manually or automatically. To process automatically, set the Dormancy Application parameter to Automatic in the Business Product (Account Class) configuration. The dormancy state of an account is set automatically by monitoring parameters like Dormancy Days, Activation Parameters, and specified account activities.

The Account Dormancy feature is enhanced as described below:

• The dormancy feature can now consider Non-Financial activities as valid actions, ensuring that accounts engaged in specified non-financial activities during the dormancy period do not update as dormant.
• Banks can now configure Non-Financial activity in addition to Debit and Credit transactions as an account activity. Dormant accounts are set to the active state when a configured non-financial activity is detected.

Enhancement in Status Widget in Account 360 Search

The Status widget in the Account 360 Search is updated to furnish the enhanced dormancy details. It displays the latest financial and non-financial transactions conducted in the account. The information allows the bankers to address customer inquiries effectively.

Upcoming Dormant Account Dashboard Widget

A new dashboard widget displays the dormancy information of accounts in the branch. The widget displays dormancy information for the current and the next two months.

Enhancement in Integration with IC Module

The completed integration of charges with the IC Module allows the application of charges for Check Issuance and Stop Payment requests.