Automated Dealer Reserve

By Fiserv

This DNAapp will assist in the process of automatically transferring funds from multiple dealer reserve accounts to a single deposit account held either internally or externally on the day the loan is funded.

App Type

Platform

DNA

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The Automated Dealer Reserve DNAapp will assist in the process of automatically transferring funds from multiple dealer reserve accounts to a single deposit account held either internally (for use with a third-party settlement) or externally (when the fee is transmitted to the dealer via an ACH origination transaction) on the day the loan is funded.

It also facilitates the dealer to retain a certain amount in the reserve account.

Benefits

It automates the process of transferring funds from multiple dealer reserve accounts to single deposit account on the day is funded which is manually otherwise.