Banking Services

The vendor is required to provide comprehensive municipal banking and treasury management services.
- Required banking and treasury services
1. Account structure and collateralization
•    Recommended account architecture for city operations
•    Interest-bearing options and earnings methodology
•    Compliance with public fund collateralization requirements for balances exceeding FDIC limits
•    Collateral reporting and verification process
2. Wire services
•    Online wire initiation and monitoring
•    Templates for recurring and repetitive wires
•    Future-dated wires
•    Cutoff times and processing windows
•    Security controls, including dual controls and approvals
3. Ach services
•    Ach origination and receipt capabilities
•    Ach upload/API/interface options
•    Ach filters and blocks and fraud controls
•    Pre-note policy and fees
•    Exception and return handling
4. Deposits and collections
•    Branch/vault/teller deposit options and cutoff times
•    Deposit discrepancy and reconciliation handling
•    Returned and re-cleared item processing
•    Availability of funds policy
5. Remote deposit capture (RDC)
•    Scanner and software options and costs
•    Same-day credit deadlines
•    Document retention and image retrieval
•    Liability for fraudulent and duplicate items
6. Courier and transport services
•    Availability of daily or scheduled courier services for locations unable to deposit remotely
7. Online banking and treasury portal
•    Daily balance reporting (summary/detail)
•    Check detail and image access
•    Ach/wire reporting with addenda
•    Intraday reporting availability
o    Download formats (csv, excel, pdf, bai2 or equivalent)
•    Alerts, user entitlements, dual authorization, audit logs
8. Electronic records and archiving
•    Statements/check images/document archive options
•    Retention periods
•    Search and export functionality
9. Reconciliation services
•    Monthly statement and paid-item reporting capabilities
•    Reconciliation support tools and timing
10. Positive pay and payee positive pay
•    Transmission methods and cutoffs
•    Exception workflows and decision windows
•    Fraud mitigation controls
11. Stop payment
•    Online initiation and renewal
•    Duration and renewal handling
•    Confirmation and audit trail
12. Cybersecurity, business continuity, and incident response
•    Security program framework and governance
•    Encryption and access controls
•    Independent audits and assessments
•    Business continuity and disaster recovery
•    Incident and breach notification practices and timelines.