For banks, computing and reporting average daily balances on customer accounts is crucial toward assessing the correct charges on customer accounts, thus keeping customers informed as well as ensuring compliance with the policies and increasing bank profitability.
An accurate average daily balance (ADB) enables a bank to communicate the correct account information to a customer, such as whether a service charge applies to their accounts, or whether an account qualifies for special services or discounts.
Ignify’s ADB Computation and Reporting Solution for Banks built on Microsoft Dynamics AX ensures that banks are able to quickly and efficiently calculate ADB, as well as gain in-depth ADB reports – ensuring in-depth insight and better engagement with customers.
With this solution, banks are able to get:
- Month to Date Average Daily Balance (ADB)
- Quarter to Date ADB
- Year to Date ADB
Average Daily Balance
The ADB Solution for Banks provides a comprehensive ADB summary, including: Activity total, Ending Balance, Month to Date ADB, Quarter to Date ADB, Year to Date ADB.
Period to Date Average Balance
On-Demand functionality to calculate Month to Date or Period to Date ADB as of any date in the period is made available through an inquiry screen in Microsoft Dynamics AX
A Period to Date ADB view of bank accounts.
Quarter to Date ADB
On-Demand functionality to calculate Quarter to Date ADB as of any date in the quarter is made available through an inquiry screen in Microsoft Dynamics AX
A Quarter to Date ADB view of bank accounts.
Year to Date ADB
On-Demand functionality to calculate Year to Date (YTD) ADB as of any date in the year is made available through an inquiry screen in Microsoft Dynamics AX
A Year to Date ADB view of bank accounts.
Average Balance Summary Reports
The Ignify ADB Solution for Banks enables banks to pull summary reports by customer bank account as shown below.
Summarized Period to Date ADB
A summary report for the Period to Date ADB of bank accounts.
Summarized Quarter to Date ADB
A summary report for the Quarter to Date ADB of bank accounts.
Summarized Year to Date ADB
A summary report for the Year to Date ADB of bank accounts.
The Ignify ADB Solution for Banks is a global, multi-currency solution, seamlessly supporting international banks with branches in different locations.
A bank’s PTD/QTD/YTD average daily balance can be easily converted into either the legal accounting currency/company currency, or can be viewed into the bank accounts native currency.
Average balance can be viewed in the bank account currency e.g. Australian Dollars or the company accounting currency e.g. US Dollars
If you would like more information, or if you have any questions about Ignify’s ADB Solution for Banks, please email us at email@example.com.