Flag, Lock or Place Accounts On Hold

1

Define

Define Savings Account Flags

As an operations manager or system administrator I want to be able to create a new status of On Hold or Flagged for Savings Accounts

Define Loan Account Flags

As an operations manager or system administrator I want to be able to create a new status of On Hold or Flagged for Loan Accounts

Define Reason for Account Flag

As an operations manager, I want to specify the reasons for why an account is On Hold or Flagged

Flag Account or Move into On Hold

As a field officer/employee I want to move an account into On Hold or Flagged Status

Types of Account Flags

As an operations manager I want to define different types of account flags

Some account flags could be for expected and regularly-occurring reasons (i.e. compulsory savings/guarantee) and some could be for unexpected events (fraud, loss, death, etc.)

This could be handled by the reason or you could have flag type dictate if it's for notification only, blocking a whole account, blocking a portion of funds, etc.

Restrict Savings Transactions

As an operations manager, I want to restrict transactions from being made to a savings account that is On Hold or Flagged

Need to specify what transactions are permitted if any (i.e no withdrawals but fees, etc.)

Restrict Loan Transactions

As an operations manager, I want to restrict transactions from being made to a loan account that is On Hold or Flagged

Need to specify what transactions are permitted if any (interest, penalties posting, etc.) Are repayments allowed, transfers from other accounts)

Automatically Remove Account Flag

As an operations manager I want the account to automatically be moved out of On Hold status for certain transactions

Should this be allowed to automatically remove an account flag or is it manual?

Blacklist Client Account

As an operations manager I want to blacklist a client account so transactions can't be made and staff are notified.

Restrict Closing Flagged Accounts

As an operations manager, I want to limit an On Hold or Flagged account from being closed

Remove Account Flag

As an operations manager I want to move an On Hold or Flagged Account to a Specific Status

Need to define what permitted state changes are - active, closed/blacklisted/etc.

Client Notification

As an operations manager, I want to notify a client when their account has been flagged

This might become more common with self-service channels. Also have to be sensitive in not notifying them and providing too much information (i.e. if someone is trying compromise an account by responding and notifying them and providing account #)

Staff Notification

As an operations manager, I want myself and other staff notified when their account has been flagged

View Flag History

As an operations manager I want to see a historical view of when and why an account has been flagged.

See Flagged Accounts

As an operations manager I want to generate a report showing all flagged accounts by reason

Flag Inactive/Dormant Accounts

As an operations manager I want to flag inactive/dormant accounts

Inactive Savings Accounts (aka Dormant Savings)

Compulsory Savings

As an operations manager I want to put a percentage of funds on hold as compulsory savings

Should this be separate as the account as a whole isn't flagged but just part of the balance

Define Different General Ledger Accounts for Interest for Locked/Unlocked Accounts.

As an accountant I want to define which general ledger accounts interest or fees get accrued to because central bank requirements for non-performing assets/etc.

How should this relate to the functionality being built out for inactive/dormant savings accounts?

Ed: My initial thinking is that as we design the inactive/dormant accounts, we should think about account flags as over-arching umbrella that a dormant/inactive account flag falls under.

How should this relate to functionality in place for blocking portions of accounts as guarantee

Ed: My initial thinking is that this might be separate.