New in Omega: Block Transactions by Funds Type for Tighter Payment Control
We're excited to introduce a powerful enhancement to Omega's electronic payments: the ability to block transactions by funds type at the account level. This gives lenders more control, reduces payment risk, and streamlines operations—without adding complexity for your teams.
What's New
You can now prevent specific payment methods (funds types) from posting on selected accounts by using:
- Remark Codes
- Administrative Codes
- View Account (visible on both Customer and Account tabs)
Once a blocked funds type is assigned via a code, transactions using that funds type will be prevented from posting on accounts that carry the assigned code. Blocked funds types are clearly visible in View Account—no need to click Edit.
Access to create and manage these codes follows your existing system permission controls.
How It Works
- Choose the funds types you want to block.
- Assign them to a Remark or Administrative Code.
- Apply the code to relevant accounts.
- Omega enforces the block automatically at posting.
If you use the Omega Customer Portal, customers attempting to pay with a blocked funds type will see a clear error message—minimizing confusion and support tickets.
Why Lenders Will Like This
- Strengthen payment governance: Enforce policy by account, product, or portfolio segment.
- Reduce exceptions and rework: Prevent disallowed payments before they hit your queue.
- Improve customer experience: Transparent rules with clear messages in the portal.
- Move faster: Frontline teams can see blocked funds types at a glance in View Account.
✅ Get Started
Step-by-step instructions for configuring Admin or Remark Codes to block transactions by funds type are available in the Omega Help Center. Contact our team if you need assistance setting up this new feature.
