Unclaimed Property Management System

The vendor is required to provide unclaimed property program which includes online claims initiation, paper claim fulfillment, intake of securities and safe deposit boxes, and management of reports received from holders of unclaimed property.
- Ability to process a large volume of property claims, increase efficiency in claims processing, and create new process flows required by sb 103.
- The management system must manage relational databases for holder reporting, representative registration, and claims. 
1. System-wide requirements
•    Provide multiple security levels utilizing user and role-based security. 
•    Provide segregation of duties controlled by security roles in the individual applications.
•    Provide the ability to require multi-factor authentication for all internal and external system users.
•    Capture audit trail of users logged into the system and record of changes to data
•    Allow for imaging of claims documents, manual holder reports, and property documents. 
•    Share data (including images) between external interfaces in real-time, asynchronously, or via flat files.
•    External interfaces include department print fulfillment supplier, securities custodian, and financial institution.
•    Ensure accessibility through standard web browsers, such as microsoft edge, google chrome, and Mozilla Firefox without requiring specialized or proprietary plug-ins or applets for any system applications which are web-based.
•    Provide a web portal to accommodate the following functions: (i) holder reporting, (ii) non-representative claim submission, and (iii) representative registration and claim submission.
•    Automate payment methods of both ach debit and ach credit. 
•    Payment processing shall be at no cost to dor.
•    Process reciprocity claims from other states. 
•    Provide the ability to run pre-existing reports within the solution and custom reports on demand. 
•    Interface with other external data elements, including:
o    Configurable data extract
o    Import return file
o    Add additional information to the property from a third party
•    Extract transform load (“ETL”) processes between the management system and the website are customized to the unclaimed property section’s requirements.
•    Provide multiple channels (e.g., phone, and email) for product and technical support for department, which shall be available at minimum Monday through Friday from 8:00 a.m. to 6:00 p.m. eastern time.
•    Supplier shall ensure the system is available 99.5% of the time outside of the scheduled maintenance windows as coordinated with dor.
2. Migrating pre-existing CDR database into new management system
•    Supplier must migrate the contents of department existing CDR database into the new management system. 
•    This microsoft access database contains data elements detailing:
o    CDR business entities
o    CDR primary contacts
o    CDR agents
o    Registration data
o    Registration payment details
•    The supplier must associate the data elements contained in the microsoft access database to claims and payments migrated from the current management system. 
•    The size of the access database is 1gb in size.
3. Holder reporting requirements
a. Capture configurable report information, including:
•    Report type (e.g., annual voluntary compliance audits)
•    Date reported to department
•    Date accepted by department
•    Date balanced
•    Date cleared
•    Date remittance was received
•    Holder’s name and contact information
•    Reporting agent’s contact information
•    Holder tax id
•    Costs by report (e.g., third-party auditor fees).
•    Staff notes
•    Any alerts on holder
•    Any alerts on report
•    Email or correspondence sent to holder
•    Holder’s online digital signature
b. Capture configurable owner information reported by holder, including:
•    Type of owner
•    Name of owner
•    Owner’s tax id or social security number (“SSN”)
•    Owner’s last known address, including county
•    Driver’s license number and state
•    Cash amount
•    Date of death
•    Name and last known address of insurance beneficiary
•    NAUPA owner account relation
•    NAUPA property type descriptions (or descriptions that are substantially similar)
•    Date of last activity
•    For unliquidated securities or mutual funds
o    Type of security
o    Internal stock id
o    Symbol of security
o    Name of security
o    Fund number
o    State account number
o    Issuer name
o    CUSIP number
o    Number of shares
o    Price history
o    Staff notes
o    Applied alerts
c. Provide an online means to submit holder reports and remit funds directly without creating a NAUPA file. 
d. Create receipts for cash, securities, and tangible property and relate back to reports. 
e. Unclaimed property program (UCP) management system must capture and track the following information pertaining to receipts:
•    Internal batch id
•    Deposit number
•    Batch date
•    Deposit date
•    Expected cash and shares in batch
•    Actual cash and shares in batch
•    Balance date
•    Unbalance date
•    Internal receipt id
•    Received date
•    Type of receipt
•    Document locator id, if provided
•    Holder name
•    Payor
•    Federal employer identification number (FEIN)
•    Check number
•    Amount
•    Instrument date
•    General ledger account selection
•    Amount of shares
•    Security form
•    Comments and notes for receipt
•    Any applied alerts
f. Provide a “balancing” or reconciliation process for all cash, securities, and tangible property received on the report.
4. Holder portal requirements
•    Allow upload of NAUPA-approved files and negative reports.
•    Load reports into system automatically.
•    Provide configurable report validations checked against the file.
•    Prevent acceptance of reports that are not validated.
•    Provide summary of file for valid submission confirmation.
•    Provide configurable error messages for invalid submissions.
•    Attach ach debit receipts to report.
•    Provides holder with voucher information for inclusion if payment is made by check and capture the following information for the voucher:
o    Document number
o    Report number
o    Check number
o    barcode identification
o    Holder name
•    Automate payment batches from holder to UCP.
•    Provide process to handle returned items (i.e., electronic payments and checks).
•    Archive raw file to configurable location automatically.
•    Send configurable automated emails to holders.
•    Allow holders to see their reporting history online with immediate updates.
•    Allow holders to reset their own password.
•    Allow department to manage users, reset passwords, and lock and unlock holders from reporting.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: August 07, 2025