Financial institutions face a difficult balancing act when setting overdraft limits: weighing strict regulatory guidelines and the risk of principal write-offs against consumer demand for an overdraft service. SmarterPay™ from Fiserv can assess risk while also setting defensible limits.
SmarterPay is a deposit analytics solution that helps you assess and manage risk at the account level to facilitate responsible overdraft limit-setting practices. It also enables other valuable functionality, such as monitoring, account management and in-depth reporting.
The largest financial institutions in America use SmarterPay. It processes more than 50 million deposit accounts and analyzes hundreds of millions of transactions every night. Count on Fiserv to deliver industry experience, analytical capabilities and processing capacity.
SmarterPay uses a patented, risk-scoring methodology to predict a customer's probability of charge-off, as well as transactional information to calculate an accountholder's capacity to repay. This ensures that both risk and affordability factor into these deposit-based risk assessment decisions, similar to how other credit products are underwritten.
SmarterPay can be provided via ASP or licensed to your institution for on-premises or hosted deployments. The solution integrates with numerous core processing solutions, including those from Fiserv, Fidelity, Jack Henry, Hogan and others.
The solution enables defensible overdraft limit assignments, excessive overdraft monitoring and shut-off capabilities to meet compliance expectations of regulators
Powerful reporting capabilities and consultative support to monitor excessive overdrafts, charge-offs and performance anomalies, including account-level analysis
Configuration of rules and parameters to enable differentiated treatment down to product and account levels, including new account strategies, minimum and maximum limit ranges, and differential limits by delivery channel
Broad data management and analytics infrastructure enables key deposit account use cases, including managing refund amounts (Refund Advisor), monitoring and remediating accounts with excessive overdraft activity (XOD), industry benchmarking (RPM), and differentiated channel risk strategies (ILM)
Deploy a deposit analytics engine that uses a patented risk-scoring methodology to drive deposit-based risk decisions with SmarterPay.
Provide overdraft limits to the young account segment while reducing risk of deposit charge‑offs.
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