This topic describes the processing of inactive, dormancy, and escheatment marking based on last contact date in Oracle Banking Retail Accounts.

The Last Contact Date with the bank determines the marking of Inactive, dormant, and escheatment accounts in the United States, as laws regarding Inactive accounts, Dormancy, and Escheatment vary by state.

The bank will develop a bank-level parameter to determine if customer-level inactive, dormancy, and escheatment tracking needs to be enabled. If the above flag is checked, the Last Contact Date (LCD) will be considered for marking account statuses (Inactive, Dormancy, Escheatment).

The LCD will update following any financial/Non-financial activity on the customer's account.

For Example:

The customer has accounts A, B, and C. If the address of account A is updated today then the LCD for all accounts A, B, and C will be updated to today's date and the revised Inactive, Dormancy, and Escheatment dates will be calculated.