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ADVANCED IMAGING AND LOAN PORTFOLIO MANAGEMENT: AccuAccount is more than loan document imaging

BY JIM WILLIAMS, VICE PRESIDENT, AccuSystems LLC

AccuAccount’s advanced imaging system will combine document loan management and include various file management abilities in addition to being a basic image repository.  This advanced system tracks missing, expired or out of compliance documents along with integrating all the various aspects within loan management such as the loan perfection process, technical exceptions, and internal auditing and compliance requirements.  AccuAccount replaces the various ticklers and exception management systems like Excel spreadsheets many banks need with a basic repository.  Banks no longer need to manage multiple systems and mitigate the need to manage most paper with the exception of instruments of security.  This advanced system also has the ability to set up various exceptions and parameters automatically through a nightly download from your core processor that includes document, technical and policy exceptions as well as the ability to track loan classifications.  The exception requirements are dollar and date sensitive as well. 
AccuAccount will also enable your bank to automatically assign tasks such as exception reporting to officers or other staff responsible for resolving loan exceptions.  AccuAccount will also prepare and send various reports via email on a scheduled basis to assignees and management that contains summary reports with critical loan information status.  Additionally the system also prints letter and notices that can be mailed or delivered electronically to customers.
One hundred thirty one commercial banks have been closed in the US between January 1, 2009 and December 4, 2009.  In addition, two corporate credit unions and one individual credit union have been placed in conservatorship.  There are many reasons why financial institutions fail: capital depletion, asset quality problems, liquidity, etc.  The overriding factor in many of these closed banks was the failure to properly manage their loan portfolios and to identify problem credits early.
AccuAccount has integrated loan document and policy exception detection processes that proactively identifies and reports them so they can be corrected before an examination begins.  Digital management of the loan portfolio means that exceptions cab resolved immediately and efficiently.  Advanced loan document and imaging applications like AccuLoan incorporate automated processes to enable loan support staff to prepare for loan reviews and examinations more efficiently while shortening the amount of time and research required.  Preparation now takes a few hours instead of days.  A fully integrated system like AccuAccount will accumulate and organize all of the required data for a successful loan review.
Examiners and auditors have expressed their positive impressions of a digitally managed loan document system: consistency in loan file tab layout; less travel time and out of office hours when requested loan files are delivered on a secure CD or DVD, less time spent poring paper loan files to identify missing or misfiled documents.  For the banker, it means less disruption during the examination or audit.

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