Community Blog

How Commercial Loan Approval Works in AccuAccount

By Jenn Mitchell posted 2 days ago
Did you know that AccuAccount offers an intuitive loan approval capability, practically eliminating the need for routing sheets? With AccuApproval for AccuAccount, your bank or credit union can achieve a scalable workflow that aligns with your commercial lending process. It’s a great option for financial institutions looking to streamline loan routing and approval—but without the cost of a loan origination system (LOS) or customer relationship management (CRM) system. Let’s take a closer look at how it works. Quick Overview: AccuApproval Included with our AccuAccount Enterprise plans , AccuApproval can be adapted to your lending, credit analysis, ...

Enhancing Document and Information Management in Banking: Overcoming Data Access Barriers with Intelligent Document Classification

By Cameron Marks posted 30 days ago
Banking professionals responsible for document and information management often encounter various obstacles that hinder timely access to data and documents. These obstacles can include missing or incomplete documents, misclassified data, and regulatory requirements pertaining to accessibility and retention. While a misplaced document or an incomplete file might seem trivial, such issues can lead to costly storage expenses, evolving audit and compliance demands, and operational inefficiencies that may damage the reputation of a bank or credit union. Effective information categorization from the onset is essential for systematic organization, facilitating ...

Optimizing ContentGrid Query Performance: Insights from Our 500M Docs Test

By Vincent De Geyndt posted 10-30-2024
Handling large datasets efficiently is a core challenge for any system dealing with big data. At ContentGrid, we recently conducted performance testing on our platform using a dataset of 500 million documents, focusing on query response times and throughput under varying conditions. Our tests aimed to evaluate how well ContentGrid manages high concurrency query workloads, ensuring a seamless experience for users. Here’s a deep dive into our testing methodology, key findings, and the implications for optimizing query performance. Test Setup: Understanding the Parameters Our performance testing focused on a data model comprising two entities: ...

[Playbook] Categorize Your Exceptions for Reporting

By Jenn Mitchell posted 10-09-2024
Here’s the Situation: Your financial institution has grown its commercial loan portfolio over the past few years. Despite your team’s best attempts to minimize exceptions, the number of missing documents and past due tasks keeps increasing. Switching from spreadsheets to AccuAccount helped simplify tracking, but analyzing the exception data can still seem overwhelming. You’d like to categorize your exceptions for enhanced reporting and efficiency, but you’re not sure where to begin. This article shares a couple “plays” for categorizing exceptions in AccuAccount. Set Yourself Up for Successful Categorization Adding exception categories ...

Related Entities Tracking: Go Beyond Spreadsheets

By Jenn Mitchell posted 09-24-2024
Tracking related entities is an important, yet time-consuming activity for understanding complex banking relationships. Businesses are bought and sold, ownership changes hands, and people relocate to different parts of the country. As a result, generating related entity reports can seem overwhelming—especially when relying on spreadsheets and other manual processes. AccuAccount offers built-in reporting capabilities for related entities. Let’s take a closer look at how this feature works. Related Entities Report in AccuAccount With AccuAccount , financial institutions can easily create and assign entity groups for reporting purposes. You might ...

7 “Outside the Box” Use Cases for the AccuAccount Audit Export Feature

By Jenn Mitchell posted 09-04-2024
The audit export feature in AccuAccount was built to simplify audit and exam preparation for financial institutions. Instead of scrambling to gather paper loan files for auditors and examiners, generating a loan file with AccuAccount takes just minutes—and also opens the door to virtual audits . Our audit export feature can also streamline other document sharing scenarios. This article explores seven “outside the box” use cases for the AccuAccount audit export feature. Go Beyond Audit & Exam Prep with AccuAccount Here are just a few of the situations where the AccuAccount audit export feature might come in handy: Managing loan participations: ...

Developing RIM Program Executive Sponsorship: Landing an Executive Sponsor

By Zasio Staff posted 09-03-2024
By Jake Naylor This article first appeared on Zasio.com Welcome to the second part of our series on developing executive sponsorship for your records management or information governance project. If you recall, in the first article, we discussed : Selecting a potential executive sponsor Preparing an effective pitch Now that you’ve identified your desired catch and cast your line, let’s discuss how you can reel them in and keep them invested—especially when a failure to implement your project could expose your organization to costly regulatory penalties. Getting an executive sponsor committed can be a lot like fishing: after much preparation ...

Revolutionize Banking Efficiency with the FASTdocs Workflow Library: Your Key to Streamlined Operations and Enhanced Accuracy

By Cameron Marks posted 08-28-2024
In the ever-evolving world of banking and financial services, efficiency and adaptability are key. Enter the FASTdocs Workflow Library, a game-changing feature of Alogent’s FASTdocs platform, an advanced enterprise content and information management (ECM / EIM) solution. This innovative tool is crafted to streamline and enhance operations within financial institutions. Whether you're an experienced banking professional or new to the field, the FASTdocs Workflow Library can significantly improve how your institution handles processes and documents . What is the FASTdocs Workflow Library? At its core, the FASTdocs Workflow Library is a collection of ...

Revolutionize Banking Efficiency with the FASTdocs Workflow Library: Your Key to Streamlined Operations and Enhanced Accuracy

By Cameron Marks posted 08-28-2024
In the ever-evolving world of banking and financial services, efficiency and adaptability are key. Enter the FASTdocs Workflow Library, a game-changing feature of Alogent’s FASTdocs platform, an advanced enterprise content and information management (ECM / EIM) solution. This innovative tool is crafted to streamline and enhance operations within financial institutions. Whether you're an experienced banking professional or new to the field, the FASTdocs Workflow Library can significantly improve how your institution handles processes and documents . What is the FASTdocs Workflow Library? At its core, the FASTdocs Workflow Library is a collection of ...

Gaining a Holistic View of Banking Relationships with AccuAccount

By Jenn Mitchell posted 08-22-2024
Banking relationships can be incredibly complex. After all, one commercial customer might be connected to dozens of entities, loans, and accounts. To see the bigger picture, some financial institutions rely on time-consuming data manipulation in spreadsheets. It doesn’t have to be that way. Implementing AccuAccount from Alogent can make it easier to understand banking relationships and reduce administrative work. AccuAccount brings together key relationship information from loans, collateral, guarantors, credit, related entities, and accounts—resulting in a powerful, intuitive platform for team members. Meet “Customer View” in AccuAccount AccuAccount ...

How Identifying Personal Information Can Help Boost Your RIM Program

By Zasio Staff posted 08-20-2024
By Brandon Tuley This article first appeared on Zasio.com Identifying the record series in your retention schedule that contain personal information is a strategic step to advance your records and information management program. Not only will you be more mindful of the record series that contain personal information, but you’ll also gain a more detailed understanding of the sources from which you acquire personal information. So if you’re looking to further your organization’s RIM program, considering the types of personal information in your RRS is a wise step forward. Once you determine the types of personal information within your organization’s ...

Beyond content chaos, clarity with entities

By Vincent De Geyndt posted 07-19-2024
Content Chaos, the natural state of information Putting content under collective control is a growing challenge. With the adoption of cloud content services, the number of content systems in organizations continues to increase, including shared drives, sites, and email systems. With the migration of content to Sharepoint, small-scale collaboration is empowered. But governance, compliance, and collective clarity are still lagging behind. Where can I find my document? What were our agreements back then? Content chaos thrives. The reality of agility is that it is difficult to adapt content systems to a changing business environment. Running document archives ...

The importance of Data Capture for feeding Large Language Models

By Kevin Neal posted 07-12-2024
The fantastic opportunity for Artificial Intelligence (A.I.) to better our business and personal lives is all the rage these days. With all this incredible innovation, there are terrific possibilities, for example, to greatly improve cash flow for your business by analyzing your accounts payables and receivables. Or you can use A.I. to crawl all your Office 365 documents to quickly and easily develop a business plan in minutes instead of the manual and time-consuming tasks of human interpretation then writing a traditional business plan that might take days, weeks or months. Or, the holy grail of all time, maybe the cure for dreaded diseases such as cancer can ...

How to Prepare for an Audit or Exam with AccuAccount

By Jenn Mitchell posted 07-10-2024
Compared to pulling paper loan files, using AccuAccount can make audit and exam prep faster and easier . But how does it actually work? Let’s break the process down into five simple steps. Step 1: Create and Name Your Audit File With AccuAccount, you can begin building a new file as soon as you become aware of an upcoming audit or exam. AccuAccount makes it easy to name your audit file, add comments, and customize its settings. You can also decide whether to include customer and account comments or documents that still require quality control (QC). Step 2: Search & Find Information Next, you’ll want to use the search functionality to locate ...

4 Tips for Faster, Easier Loan Management Audits

By Cameron Marks posted 06-24-2024
Audits and exams are stressful—and time-consuming. Preparing for an audit or exam involves a lot of document-related activities, which is why a system like AccuAccount can prove to be incredibly useful. AccuAccount offers a built-in audit and exam prep workflow that helps financial institutions save time and reduce stress. Here are four tips for enabling faster, easier audits with the help of AccuAccount. 1. Proactively Manage Exceptions Minimizing document-related exceptions is one of the best ways to avoid panic during audits and exams. Reducing exceptions requires a proactive approach, smart processes, and reliable technology. Automated exception ...

Is Inefficient Loan File Management Costing You $100K+ Per Year?

By Cameron Marks posted 06-11-2024
Change often comes with a cost. For financial institutions looking to improve their existing loan file management workflows, this cost may involve acquiring software, implementing new processes, or bolstering in-house technical capabilities. On the other hand, there’s a real cost of maintaining the status quo, which could represent a much greater expense in the long run. Alogent’s document management cost calculator is a free tool for estimating your annual loan file management cost. Download a copy, enter your data, and view the results. You might be surprised by the numbers—especially if your cost exceeds six figures! Let’s take a look at factors ...

Enhancing Information Life Cycle Management Strategy with Process Automation Solutions

By Cameron Marks posted 06-11-2024
In the dynamic landscape of Information Life Cycle Management, process automation solutions play a pivotal role. These solutions streamline workflows, from data creation to disposal, ensuring efficiency, compliance, and informed decision-making. Let's explore how process automation transforms the management of information at every stage of its life cycle. Efficient Information Life Cycle Management Process automation technology lies at the core of efficient document and information management. Integrating software platforms such as FASTdocs enables banks and credit unions to optimize processes, replace manual tasks, and accelerate data access. Metadata tagging ...

Unraveling the Complexity: How ECM/EIM Solutions Tackle Information Chaos

By Cameron Marks posted 06-06-2024
In today's digital age, data is often hailed as the new currency. However, this surge in data production has given rise to a new challenge: information chaos. This phenomenon creates the daunting task of managing both physical and digital data from diverse sources, especially with the reliance on paper-based processes despite the goal of electronic workflows. As a result, banks and credit unions must navigate a landscape where information overload, fragmented data sources, and disparate data formats reign supreme. The consequences of improper data management can be dire, exposing privacy breaches that can extend far beyond financial losses, but erode account ...