CETO Extract
This application produces a comma-delimited extract of Checking Account data for use with the Deposit Reclassification solution from CetoLogic but can be used with any third-party application capable of digesting the extract file.
Overview
The DNAapp is designed for use with the Deposit Reclassification solution from CetoLogic but can be used with any third-party application capable of digesting the extract file.
Benefits
This DNAapp creates a data extract file with Checking Account information to streamline integration with deposit account reclassification software that identifies accounts that may be reclassified.
Deposit reclassification is a Regulation D retail sweep program where a portion of your institution’s transaction accounts are classified as savings deposits to reduce your reserve requirement. By reclassifying a portion of transaction accounts as savings deposits, which are not subject to reserve requirements, financial institutions can eliminate their reserve balances and convert low earning assets into higher earning assets via commercial, mortgage and consumer loans or higher yielding securities in your investment portfolio.
When combined with a deposit reclassification solution, this DNAapp can help you permanently recover your Federal Reserve Bank Balance, increases income on your earning assets, and keep compliant with Regulation D and Federal Reserve Board requirements without any adverse impact on your accountholders.
App Information
- Version
- 1.0.0.3 - Published July 2020
Support
Request SupportSpecs
DNAapp Type: Extract File
Third Party Integration
Developed with DNAcreator™
Technical Name - PS_CETO
DNAX File Name: PS_CETO.dnax
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