1.2.2 Retail Deposits

This topic provides information about enhancements in the Retail Deposits.

Generic Feature Enhancements

• Auto Rollover to a new Business Product during CD/TD Rollover: Feature of ‘Auto Rollover To New Product’ is enhanced to allow users to specify a renewal target product at the account level, regardless of pre-identified product.
• Full Balance Block: This enhancement enables financial institutions to block the entire balance of a CD account. A new Full Balance Block flag has been introduced in the amount block request; when set to “Y,” it blocks the principal balance of the CD. The system automatically adjusts the blocked amount for subsequent transactions that increase the principal balance. Additional validations and operational restrictions have been implemented to ensure correct behavior during rollover and close-on-maturity scenarios.
• Accrued Interest Treatment on Redemption: A new tag has been introduced in the redemption request to define how accrued interest is handled during CD redemption. This allows financial institutions to specify whether accrued interest has to be paid out, retained for continued accrual, or forfeited (for eligible, bank-initiated scenarios).
  • Payout Redemption Interest: During redemption Interest for the redeemed amount will be calculated and paid along with redemption amount.
  • Waive Redemption Interest: User can waive the interest calculated for the redeemed amount during redemption
• Post maturity and renewal notice: A new screen has been introduced for common notice maintenance, allowing users to configure pre- and post-event notifications for deposit products. Users can manage multiple notices per event, with configurable day offsets and enable/disable controls. All notifications are published to the Event Delivery Platform (EDP) for downstream consumption by subscribing systems.
• Waive penalty and waive reason: New tags are introduced in redemption request of CD to waive interest, penalty and to capture waive reason.
• Deposit External Parameter Configuration: The updates include new configuration fields, enhanced validation rules, and, most importantly, the clearing integration-routing logic. This logic determines whether deposit settlement and accounting requests are processed through direct core system calls, via REST API through the integration services layer (OBRH), or handed off to tables for downstream processing.
• New batches to the End of Day Workflow:
  • New batches are introduced in End of Day Workflow:
    • OBRDDA-EXTERNAL-ADAPTER-PAYREVERSE
    • OBRDEP-EXTERNAL-ADAPTER-PAYREVERSE
    • OBRDEP-DEPTXN-UNCOLL
  • Intraday batch ‘ICCalcBatchTask’ renamed to ‘RdepCalcBatchTask’.
  Refer the User manual EOD Configurations for details on the above batches.

US Geography Feature Enhancements

• Waive interest, penalty and waive reason: New tags are introduced in distribution request to waive regular redemption penalty, state/federal penalty and to capture waive reason.
• Accrued Interest Treatment on Redemption (IRA CD) : A new tag in the redemption request is introduced for Accrued Interest handling during distribution of a IRA CD, whether accrued interest is paid out, retained for continued accrual, or forfeited (bank-initiated) in eligible scenarios.
  • Payout Accrued Interest: Accrued interest on the redeemed amount is paid out as of the redemption date. This option applies to both full and partial redemptions.
  • Continue Interest Accrual: Accrued interest on the redeemed amount is not paid out and remains in the Interest Payable GL, continuing to accrue. This option applies to partial redemptions only.
  • Forfeit Accrued Interest: Accrued interest is forfeited by debiting the Interest Payable GL and crediting the Interest Expense GL. This option applies to full redemptions only.
• An IRA specific Intraday batch ‘RdepCalcBatchTask’ in introduced for invoking external systems for payment processing.