Fiserv DNA is a Core Banking Platform that processes daily transactions related to customers, lending and deposit products, financial data, and interfaces with other systems. DNA generates many reports on a batch and online basis that are critical for managing ACH operations such as:
Accounting and/or Business Operations teams must gather the data from all of these reports to complete the ACH Balancing process. Completing this business process accurately and in a timely manner will lead to accuracy in financial statements, as well as customer accounts, not to mention adherence with regulations.
Without the right tools, the process can take 30 minutes or more. With Monarch the process can be accomplished in significantly less time. Monarch can extract all of the data from the necessary reports, and then apply appropriate business rules and logic to combine all the data in the appropriate format for the ACH Balancing process.
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