Account Dormancy Management
Proactive banking solution that identifies inactive accounts, determines appropriate interventions, and ensures compliance with regulatory requirements.
Solution
This account dormancy management system helps financial institutions identify and address inactive accounts before they become dormant. It calculates the time since last account activity and determines how close accounts are to reaching dormancy thresholds. Based on these calculations, the system assigns a status to each account: active, warning, at-risk, or dormant.
For accounts requiring attention, the system recommends specific actions based on the dormancy status and customer tier. Premium customers receive preferential treatment such as fee waivers and account reviews, while standard customers may receive final notices or automatic account closure procedures. Each recommended action includes a priority level to help bank staff efficiently allocate resources. This ensures regulatory compliance while maintaining positive customer relationships and reducing the administrative burden of managing dormant accounts.
How it works
The decision graph processes account information through these key steps:
- Input Processing: Receives account details including type, balance, customer tier, last activity date, and regional information.
- Dormancy Calculation: Computes days since last activity and days remaining until the account reaches dormancy threshold.
- Status Assignment: Categorizes accounts as "active," "warning" (60 days before threshold), "at_risk" (30 days before threshold), or "dormant" (past threshold).
- Status Routing: Directs active accounts to normal processing while flagging others for intervention.
- Action Determination: Recommends specific interventions based on dormancy status and customer tier, such as notifications, fee waivers, account reviews, or closure procedures.
- Priority Allocation: Assigns priority levels to each action, helping staff focus on the most urgent cases first.
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