Bank Depository

The Vendor is required to provide financial institutions to serve as its primary bank depository.
- The Bank shall be prepared to support these account structures at a minimum from the commencement date.
- Wire origination file support for AP-module-generated wire instructions, with dual approval workflow available in the Bank's online platform; and
- Intraday transaction data available in real time or near-real time through the Bank's online platform, in addition to prior-day BAI2 availability.
- Automated file acknowledgment confirming receipt and successful pre-processing validation within thirty (30) minutes of file submission;
- Role-based access control: The platform shall support granular, configurable user roles including at minimum: view-only, transaction initiation, transaction approval, positive pay decision, user administration, and reporting.
- Dual-control approval workflows: All wire transfers, ACH file releases, and user administration changes shall require initiation by one authorized user and approval by a second authorized user before the Bank acts on the instruction. Dual-control shall be enforced at the platform level and shall not be by passable by any single user regardless of role;
- Fully fee-based compensation, with monthly direct debit of analyzed charges;
- compensating balance with an earnings credit rate; or
- A hybrid arrangement combining elements of both.