Banking Services

The vendor is required to provide for banking services state police department.
- Provide automated notifications via text and/or emails for all services to ensure staff can effectively monitor all bank account activity.
- Provide real-time online updates on balance, deposits, and wire transactions.
- The system must enable the upload and transmission of the automated clearing house (ACH) transactions and files and provide detailed reports of returned ach items.
- Responsible for developing, transitioning, and implementing files formats and data transfer systems for ach interfaces and direct deposits, ensuring they are essential, complete, and compatible with the state’s various information technology systems.
- Accept remote deposits and credit all received deposits as available funds by closing the same day.
- Responsible for providing all necessary equipment for remote check deposits.
- Supply a unique identification/location code for each remote deposit to facilitate reconciliation and include this code on adjustments or returned items.
- Verify deposit totals, clearing images, image replacement documents (IRDS), ach conversions, and the use of magnetic ink character recognition (MICR) line truncation.
- File transmission must be 24/7, with the capability to accept ach and other files through an alternative method if internet access fails.
- The system must generate daily reports on ledgers collected and available balances for all linked in individual accounts, with account details accessible for at least 90 days (preferably 365 days.
- The system must be capable of compiling daily interaction reports for operating accounts and delivering updates for controlled disbursement accounts, including presentments, paid items, stop payments, manuals adjustments, and exceptions.
- The system must produce daily and monthly banking statements, along with reports for ach activities, wire activities, deposits, requested deletions and reversals, and returned items for the current and previous day.
- The system must utilize industry standard encryption, authentication techniques, and secure individual logins and passwords.
- Provide all training sufficiently in advance to the “go-live” of the proposed system such that all users required to be trained have had a sufficient amount of exposure to capably use the system.
- Contract Period/Term: 4 years
- Questions/Inquires Deadline: April 20, 2025