2.22 FIDM Processing in Oracle Banking Retail Accounts
This topic describes the processing of FIDM in Oracle Banking Retail Accounts.
If a customer has defaulted on child support payments - the FIDM data will report a match and the bank needs to block the amount for satisfying the pending child support payments to be made by the customer/Non-Custodial Parent to State.
When a FIDM data match is reported, Oracle Banking Party Services will
publish an event with the details of the match including the FIDM amount. At this
event,
- If the customer has one account - then a legal block will be placed on the account for the reported FIDM amount.
- If the customer has multiple accounts - then a legal block will be placed on the account with the max balance for the FIDM amount.
Note:
Removal of the legal block and transfer of funds to the child support organization will be operationally handled.Parent topic: Operations