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Commercial Line of Credit Draft Feature
Client Need Our Solution
A bank wanted to offer its Commercial customers a way to draw from their LOC’s via a draft instrument. Their Commercial Loan System did not support this feature and we were asked to develop it. This was a high impact project because the application affected many departments. The feature needed to interface with MICR (magnetic ink character recognition), teller, returned items, general ledger and Output Automation. Additionally the feature needed to allow for stops, holds, blocks and automated handling (with review) of items with insufficient availability. We worked with our client’s staff to document the requirements of the feature and identify all impacted departments and applications. During this phase the client had intended to handle returned items manually, however we proposed a solution which included automated handling of returned items. Draft items came in through the Fed or the bank’s branches. "On us" items were validated before being paid with an interface developed between teller and commercial loans. The items were then captured by MICR and sent to commercial loans for processing. Any items that needed to be returned were identified and forwarded to the returned items department for return to the Fed. The project required a great deal of coordination between departments. We not only developed the application, we also designed and managed its development and deployment.

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