As you may remember from the recent Leadership Conference and CEO Strategies events, CU*Answers has been working on some major initiatives related to 7-day business weeks and processing across multiple time zones. This kitchen page gives some basic details and status updates about major projects currently underway.
Get Connected with Jack Carpenter
Enhanced Daily Processing by Time Zone
These new controls will allow us to run end- and beginning-of-day processing routines in one time zone without interrupting online service to credit unions in other time zones. Since 11:00 p.m. in Michigan is only 5:00 p.m. in the Hawaiian time zone, we need to be able to handle daily processing in waves, moving from east to west across the country, rather than running them all at the same time based on Michigan time.
In addition to changes in scheduling for our Operators, minor changes are also made to user login configurations so that when end-of-day/beginning-of-day (EOD/BOD) is in process, users attempting to log in will receive a friendly message explaining that the system is currently unavailable, and to try again in 15 minutes.
Implemented for Mountain Time on November 14th and on December 4th for Central Time. Will be adding other time zones gradually with the goal of moving everyone over by the end of the calendar year.
The 7-Day Business Week
Business and life do not stop on Sunday; neither should your credit union. While you may not open your doors on Sunday, we will continue to serve your members effectively, consistently, and securely no matter what day it is – so we’re adding Sunday processing.
This does not mean that your credit union will have to have open teller lines on Sundays, but you will have Sunday reports to look at on Monday.
We are planning to start 7-day processing on Sunday, February 3, 2019. Signups are now being accepted: OpsEngine 24/7 Signup Form
Also watch for more news coming via our Client News broadcast emails.
RDC Posting Enhancements
Moving from batch to near-real-time, interactive posting for RDC (Remote Deposit Capture) will speed up the time frame between when members make a deposit to when it is posted to their account. Near-real-time RDC posting options will be available to any CU*Answers clients who utilize eDOC as their RDC vendor, and that post through the OpsEngine RDC Posting Services. As the name implies, near-real-time does not mean instantaneous – transactions still need to be moved between members, eDOC, and CU*Answers, as well as comply with business rules. However, the process will still be much faster than the current batch schedule.
NOTE: We’d like to come up with a catchy name for this product, one that differentiates it from the current OpsEngine batch posting options and reflects how member deposits will be posted more quickly than ever before. Speedy RDC? Quick-time RDC? If you have any suggestions, leave a comment below!
Underlying architecture was implemented with the 18.10 release and beta testing with selected CUs is currently underway.
A Word about Same-Day ACH Processing
How does the shift to same-day ACH processing relate to these 24×7 processing projects? While our 24×7 and time-zone project conversations don’t really apply to ACH, people often lump it under that umbrella, so we wanted to at least mention it here.
On March 16, 2018, the final phase of ACH same-day processing was implemented. We moved the second (mid-day) posting to 4:00 pm ET to ensure that all same-day items are posted in compliance with same-day rules requirements. CU*Answers now posts morning (6:00am ET), midday (4:00pm ET) and evening (7:00pm ET).
You get to decide whether to post credits, debits, or both, at any or all three of these times, via CU*BASE Tool #113 ACH Posting Controls. That means that if and when the Fed sends any same-day ACH transactions to your members, they’ll be taken care of with a posting run later that same day.
Our next project is to add a fourth posting cycle to more closely align with Federal Reserve Bank’s schedule, which is based in the Eastern time zone. Project is still in development; stay tuned for more information.