Financial Reporting & Account Management AutomationPurpose
1.2. Automatedly apply dynamic fee structures based on account activity, customer type, or contractual terms.
1.3. Automates generation of audit trails and integrates data directly into bank and customer ledgers.
1.4. Supports regulatory compliance by automating reporting of fee structures and transactional charges to oversight entities.
1.5. Automator increases transparency for clients, automatedly generating fee breakdowns within online banking portals or statements.
Trigger Conditions
2.2. Automated account activity triggers, e.g., exceeding transaction limits or falling below minimum balances.
2.3. Manual trigger by authorized personnel for ad-hoc automatable fees.
2.4. API/webhook input automates fee recalculation upon external system request, such as core banking updates.
2.5. Automated triggers during reconciliation, account review, or new account onboarding procedures.
Platform Variants
• Feature/Setting: 'Einstein Next Best Action' for workflow automation; configure flow to trigger fee calculation Apex class.
3.2. SAP Fiori
• Feature/Setting: 'SAP Fiori Launchpad' with Fee Management app; automate posting with SAP Standard APIs.
3.3. Oracle Financial Services Analytical Applications
• Feature/Setting: 'OFSSAA Rule Engine'; configure calculation rules in Regulatory Reporting module.
3.4. Temenos Transact
• Feature/Setting: 'Core Banking Events'; set up T24 User-Defined Routines for fee automation.
3.5. Finastra FusionFabric.cloud
• Feature/Setting: Automate with 'Fee Calculation REST API'; integrate with Fusion APIs for direct account debiting.
3.6. FIS Profile
• Feature/Setting: 'Automated Fee Processor' job; parameterize fee rates and schedules in control panel.
3.7. Mambu
• Feature/Setting: Use 'Custom Field Automation' in Process Orchestrator; trigger automated fee events.
3.8. Avaloq Core
• Feature/Setting: 'Avaloq Script Automation'; set workflow triggers for periodic or activity-based fees.
3.9. Jack Henry SilverLake
• Feature/Setting: 'Workflow Event Engine'; define triggers for Automated Fee Posting service.
3.10. Microsoft Dynamics 365 Finance
• Feature/Setting: Power Automate with 'Journal Entry API'; automatically post calculated fees.
3.11. Workato
• Feature/Setting: Prebuilt banking connectors; automate multi-step fee calculations and reconciliation.
3.12. UiPath
• Feature/Setting: Robotic Process Automation with banking templates; automate data extraction and posting.
3.13. Celonis
• Feature/Setting: Intelligent Process Mining; identify and automate inefficiencies in manual fee application.
3.14. Plaid
• Feature/Setting: 'Transactions API'; automate fetching bank data and feeding to automated fee workflows.
3.15. Stripe
• Feature/Setting: 'Stripe Billing API'; automate calculation of business account fees for each period.
3.16. QuickBooks Online
• Feature/Setting: Automated 'Batch Transactions Import' with Custom Rules for fee entries.
3.17. Xero
• Feature/Setting: Use 'Bank Rules' and 'API Webhooks' for automated fee allocation.
3.18. Netsuite
• Feature/Setting: 'SuiteFlow Workflow Engine'; automate multi-criteria fee calculations and ledger entries.
3.19. SAP BTP (Business Technology Platform)
• Feature/Setting: 'Workflow Service'; automate fee application using Fiori-integrated APIs.
3.20. Google Cloud Functions
• Feature/Setting: Automated fee scripts/logic run upon database or message queue trigger.
Benefits
4.2. Dramatically reduces compliance risk by automatedly enforcing policy-based charges.
4.3. Automates integration with reporting and accounting systems.
4.4. Scalable automator setup for banks with complex, segmented fee structures.
4.5. Improves customer trust with consistent, automated and transparent processes.
4.6. Enables audit-readiness and regulatory reporting with click-to-export automation.