Monarch for Hogan Systems - CR0005 DDA Reject Items
Altair EmployeeThe Hogan System by DXC is a core banking platform that processes daily transactions related to customers, lending and deposit products, financial data, and interfaces with other systems. Hogan consists of different modules (or components) that can be installed as a whole or individually such as:
- IDS – Integrated Deposits System
- ILS – Integrated Loan System
- CIS – Customer Information System
- ODS – Online Delivery System
Hogan generates daily reports that are critical to business operations. For example, in the Integrated Deposit System (IDS), the CR0005 is a daily report generated for checking accounts that have rejected items for various reasons. It is important to review this report to identify and address reject reasons to improve customer experience, accuracy in customer deposit accounts, and accuracy in financial general ledgers. Extracting information from the CR0005 and combining it with customer information can be useful for risk and fraud mitigation purposes as well.
This process can be time consuming and can take up to 45 minutes per day, but with Monarch the process can be accomplished in approximately five minutes.