Velocity ILS Interface image

Velocity ILS Interface

By Greylock Technology Group

This DNAapp extracts data from DNA® on a daily basis to create four files required by Velocity Solutions' Intelligent Limit System (ILS) - an overdraft management and reporting system.

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Meta information

Platform

DNA

Category

Analytics

Overview

The Intelligent Limit System (ILS) from Velocity Solutions is an overdraft management and reporting system that provides users with automated tools to manage overdraft services as a line of business while satisfying regulatory guidance. ILS requires the financial institution to create four files daily by extracting certain data from DNA.  The four files are the Daily Account File, Debit Decline File, 1st Notice File, and Adjustments File.

 

The Velocity ILS Interface DNAapp automatically creates these four required files, enabling users to streamline their use of this third-party system.

 

 

Benefits

 

ILS sets overdraft limits at the checking account level.  Setting limits on individual accounts will allow your financial institution to pay more items and generate fee income.  The Velocity ILS Interface DNAapp will allow your financial institution to easily create the files necessary to use the ILS system more efficiently.

App Information

Version
1.0.0.15 - Published October 2021
Developer Website

Specs

DNAapp Type: Extract Files 

Requirements

  • ​​DNA™ release level 4.x​
  • The Financial Institution must have a way to import the limit file from Velocity Solutions to DNA such as the PS_SCOREUPLD or PS_PODUPLD applications from Fiserv Custom Solutions.
  • The Financial Institution must have an overdraft solution within DNA such as the Premium Overdraft Protection Program from Fiserv Custom Solutions.
  • Requires purchase or subscription to a third-party solution. Third-party solution is not included in the price of this app. 
    • This DNAapp has been designed to work with Intelligent Limit System® Overdraft Management solution from Velocity Solutions®

Note: Changes by third-party vendors to their systems, files and integration approaches that impact the functionality of this DNAapp may not be covered under maintenance.


Note: Contact your third-party solution provider for instructions on configuring your third-party solution to accept and process the extract file(s) created by this DNAapp.