Core Optimization – Deposit Hot Topics

Core Optimization – Deposit Hot Topics:

I have been on several Deposit Core Optimization engagements in the last couple of months, so I thought I would share some of the hot topics specific to the core that I’ve run into.  I’ve worked with both large and small banks and have found 3 main Deposit Hot Topics that I run into at almost every Financial Institution.  These are: Exception Item Processing, Deposit Charge Offs, and Retirement Reporting. See below for some notes on the opportunity available in each area.

Exception Item Processing almost always has some type of opportunity.  Whether it’s defining more standard and automated decision plans or creating a new process for reviewing suspect item stops without going to 4 different places, or even automatiing the notification of change process, etc., there always seems to be room for efficiency improvement in this area.

Deposit Charge Offs is typically a very manual process at the banks that I have worked with.  Some banks create a loan with the Charged off Deposit account but most banks are closing the account and keeping track of the charged off information in a spreadsheet or in a separate file.  This can be very difficult to post recoveries and can be a risk if something in the manual process gets missed.  I have helped several of my clients implement deposit charge off automation which makes the process much more effiicent and not nearly as risky.  The account does not get closed and deleted off the system, it stays on the system which makes for a cleaner process.

Retirement Reporting seems to coincide with a lot of manual processes at the Financial Institutions that I’ve worked with.  Some of the manual functions include creating letters manually instead of automatically (i.e. backup withholding letters, RMD reminder letters, etc), the closing process, changing transactions and the entire distribution process.  I work with my clients to assist them in turning on the functionality that is available to them through their core system for automation.

Peak Consulting LLC provides core optimization services to go through your specific processes and to help you identify ways to make your daily processes more efficient using your core system.  Peak also helps with the implementation of new functionality and helps with creating procedures for the new processes.  Please contact Peak Consulting at for more information and/or click on the button below for our Deposit Core Optimization flyer.


Deposit Core Optimization Flyer