| Payment Processing | Currently Available in StingRay | Vendor | Vendor | ||||||||||||
| Posting Payments (Returns/Reversals) | |||||||||||||||
| Lockbox processing | ▲ | ||||||||||||||
| Process cash-like instruments (cash, check, western union) | ▲ | ||||||||||||||
| Ability to identify/manage escrow accounts (policy holders) | ▲ | ||||||||||||||
| Ability to enter down payment in the system | ▲ | ||||||||||||||
| Process other payment types (wires, credit cards, etc.) | ▲ | ||||||||||||||
| Ability to apply payments to multiple policies for a customer | ▲ | ||||||||||||||
| If payment is received from a customer on a force placed policy or certificate, system must refund that amount | ▲ | ||||||||||||||
| Ability to assess fees | ▲ | ||||||||||||||
| Customizable payment posting based on predefined/hierarchical rules | ▲ | ||||||||||||||
| Taking Actions (Policy Status) | |||||||||||||||
| Ability to set up automatic rules/conditions for status changes in policies | ▲ | ||||||||||||||
| Other Actions (Discrepancies) | |||||||||||||||
| Generate custom forms to send to customers | ▲ | ||||||||||||||
| Ability to identify binding restrictions | ▲ | ||||||||||||||