Deposit Account Lockout

The Delinquent Loan/Deposit Lockout application places a lockout on any deposit account owned by a person or organization that has a delinquent loan. The application will also inactivate the flag when the loan is brought current. The Batch program also places a lockout flag on the deposit accounts that have the balance less than that defined at the product level and when the balances are no longer below the minimum the lockouts will be removed, provided the owner does not have a delinquent loan. Runtime parameters are used to define which accounts are eligible for processing based on product type, past due days and the 'Yes/No' flag for Minimum balance.

Benefits

This application helps financial institutions improve collections on delinquent loans by helping to control access to deposit accounts whose owners have a delinquent loan or fail to meet minimum balance requirements. The application places a lockout on deposit accounts owned by a person or organization with a delinquent loan or with a balance lower than the minimum required for the product. The application also removes the lockout when the minimum balance is met or delinquency is resolved.