Velocity Solutions Releases New Overdraft Management System Serving Community Financial Institutions
FORT LAUDERDALE, FL, September 16, 2015 – Velocity Solutions, Inc. announces the release of ODM Guardian™, a technologically-advanced overdraft management system tailored to financial institutions with less than 20,000 checking accounts.
Velocity is one of the only providers in the industry to offer a solution that considers an individual’s ability to repay when determining the appropriate overdraft limit amount, an important consideration for both revenue and compliance in the changing regulatory environment. Velocity’s team has extensive experience in delivering overdraft management solutions through its industry-leading Intelligent Limit System, which is utilized by financial institutions ranging from approximately 20,000 checking accounts up to millions of checking accounts.
Steve Swanston, Executive Vice President of Velocity Solutions, said, “We found that the existing systems available to financial institutions became cost-prohibitive for many of the smaller institutions seeking overdraft management solutions. We developed ODM Guardian™ specifically to address that issue. Now there is finally an option that allows financial institutions to manage risk and compliance without the costly implementation headaches that come with other solutions.”
Some of the primary features of ODM Guardian™ include:
• Browser-based technology
• Tools to better manage and centralize communications to account holders
• Risk detection at the individual checking account level
• Excessive overdraft usage monitoring and communication
• Best-in-class Reg. E management
• Flexible infrastructure able to quickly adapt to market and regulatory changes
About Velocity Solutions, Inc.
Founded in 1995 and managing nearly fifteen million transaction accounts, Velocity Solutions® is the leading provider of revenue enhancement solutions to regional and community banks and credit unions. Velocity’s solutions are designed to drive new accounts, increase transactional activity in existing accounts, generate additional fee income, increase account holder retention and address regulatory scrutiny. For more information, please visit www.myvelocity.com.