1. Core Banking & Account Management o Management of all primary operating, clearing, and auxiliary accounts o Daily balance reporting and same-day availability of funds where applicable o Interest-bearing accounts and competitive investment yield options, consistent with Minnesota Statute § 9.031 (DEPOSITORIES FOR STATE FUNDS). o Account structure optimization to support fund accounting and reconciliation 2. Treasury Management Services o ACH origination (credits and debits), including payroll, vendor payments, and collections o Domestic and international wire transfer services o Merchant services to support in-person, online, and mobile payment acceptance o Lockbox services (optional, if available) 3. Fraud Prevention & Risk Management o Check Positive Pay with payee name verification o ACH Positive Pay / ACH debit filtering and blocking o Wire transfer controls, including dual approval workflows o Real-time alerts for suspicious activity o Support for evolving fraud mitigation best practices 4. Technology Integration & Automation o Integration with SMSU’s existing ERP and financial systems (e.g., Workday, Banner) o Automated file exchange via BAI2, CSV, SFTP, or secure APIs o Support for automated reconciliation and reduced manual intervention o Ability to adapt to future system changes or ERP upgrades 5. ATM & Campus Services (Optional) o Provision and management of on-campus ATM services, including: o Installation and maintenance o Cash replenishment o Branding options o Revenue-sharing or fee-free access models (if available).
