Community Blog

How to Prepare for an Audit or Exam with AccuAccount

By Jenn Mitchell posted 16 days ago
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 ...

Gaining a Holistic View of Banking Relationships with AccuAccount

By Cameron Marks posted 29 days ago
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 ...

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 ...

Future Proof Your Business with Zia Cloud and Managed Services

By Shelly Mahon posted 05-23-2024
Many organizations struggle to deliver the full potential of their content management, governance, and automation programs, as well as keep up with all of the remedial and mundane tasks such as support, maintenance, and upgrades. Managed services play a crucial role in future-proofing businesses by providing specialized expertise, proactive support, and scalable solutions to address evolving technological challenges. Zia offers several flexible options to manage your application platforms including on-premise, in your existing cloud, or in the Zia Cloud. Each program is customized to your specific needs based on your organization requirements and objectives, ...

Loan Management & Exception Tracking: Quickly Summarize Exceptions by Officer, Branch, or Category

By Cameron Marks posted 05-07-2024
Banks and credit unions need accurate, reliable, and easy-to-understand exception reports. However, pulling exception data together can involve considerable administrative work for back-office staff. Financial institutions that use AccuAccount enjoy a selection of standard reports, including our exception summary report . Let’s look at how this report streamlines access to exception information. A Fast, Easy Way to Understand Exception Aging The exception summary report is a straightforward aging report that’s broken down by exception type. Data can be summarized by the following criteria: Officer Branch Exception Category In the following ...

Why Should Credit Analysts Use AccuAccount?

By Cameron Marks posted 04-23-2024
Understanding a customer's or member's financial health is key to making prudent lending decisions. Credit analysts play an important role in this process, but they need reliable access to credit documentation in order to do their jobs. Although it is frequently used by loan administration teams, AccuAccount can also make life easier for credit analysts. Here are three reasons why credit analysts should consider using AccuAccount: 1. Quickly Verify Credit Documentation Has Been Obtained Credit analysts with proper permissions in AccuAccount can quickly assess each customer or member’s documentation. Color-coded indicators provide a straightforward ...

Advocating for Streamlined Document Management at Your Financial Institution

By Cameron Marks posted 04-18-2024
Implementing a system like AccuAccount can enable numerous efficiencies for commercial lending teams. Expedited access to loan documents, reduced paper, enhanced exception management and reporting, and improved collateral management are a few examples. It’s therefore no surprise why we get a lot of inquiries from VP Loan Managers and people with similar titles. Lending staff may be quick to see the value in AccuAccount, but selecting new software for your bank or credit union likely requires buy-in from multiple stakeholders and teams. Here are a few tips for advocating for change. Communicating a Clear Vision Advocating for technological change ...

Accelerating Efficiency by Leveraging Alogent’s Full Suite of Process Automation Solutions

By Cameron Marks posted 03-21-2024
More than 15,000 bankers use AccuAccount to streamline a variety of credit and loan management processes—everything from document imaging to collateral tracking and audit preparation. It’s a powerful tool, especially when paired with FASTdocs , Alogent’s enterprise content and information management solution. Why should your bank or credit union consider implementing FASTdocs alongside AccuAccount? For financial institutions looking to retire legacy systems, consolidate vendors, and reduce paper-based workflows, FASTdocs offers a number of efficiency-boosting features. Simplified cold reporting is a good example. Let’s take a closer look at ...

With Delinquencies on the Rise, It’s Time to Rethink Collateral Perfection & Risk Management

By Cameron Marks posted 03-20-2024
Delinquent loans seem to be on the rise at financial institutions across the United States. In fact, the NCUA reported that the delinquency rate at federally insured credit unions during Q3 2023 was up 19 basis points versus the previous year. The Federal Reserve Bank of New York noted similar trends around loans in "serious delinquency," defined as those delinquent for 90-days or more - auto loan dept (2.22% in Q4 2022 vs. 2.66% in Q4 2023), credit card debt (4.01% in Q4 2022 vs. 6.36% in Q4 2023) and "other" loan debt (3.96% in Q4 2022 vs. 5.15% in Q4 2023), to name a few. Such trends may indicate macroeconomic difficulties, but they also pose ...

3 Loan Management Workflows to Help You Save Time & Drive Efficiency

By Cameron Marks posted 03-20-2024
Automating a single task may not seem like a big savings in the grand scheme of things. But, what if that task occurred multiple times per day and for multiple users? Over the course of several years, automating such a task could deliver a measurable impact. At Alogent, we’re passionate about delivering process automation solutions for banks and credit unions. During a recent webinar , we discussed three time-saving workflows to enable with our AccuAccount software. Let’s explore how each workflow might benefit your financial institution. Workflow #1: Automating Task Delegation Relying on paper checklists, calendar reminders, and handwritten sticky ...

Benefits of FASTdocs in the Cloud

By Cameron Marks posted 03-20-2024
When deployed in Alogent’s private cloud, FASTdocs gives financial institutions a wealth of benefits like a reduction of costs, a modernized infrastructure, and the ability to deploy new customer and member-facing services faster. Increase efficiency without the need for in-house teams like specialized SQL database administrators, and ensure compliance requirements and document retention mandates are met with simplicity. Discover more in this document.

Americas SAP User Group – ASUG: An Illuminating Experience

By Shelly Mahon posted 03-07-2024
Over the past few weeks, several folks from Zia Consulting attended two ASUG events – Denver, Colorado and Palm Beach, Florida. As a dedicated SAP professional and vendor of an industry leading Certified SAP Archiving Solution Appliance , it was great to get updates on the latest industry trends. Additionally, the ability to network with like-minded individuals provided valuable insights to more closely align with other professionals on SAP archiving strategies for both ECC and S/4HANA. Right from the start, the energy at the event was palpable. The venue buzzed with activity as attendees from various sectors and professionals within the SAP ...

IDA 5.2 – A seamless solution for advanced document capture, classification, and data extraction.

By Dennis Seemann posted 03-05-2024
Dear AIIM Community, We just released a brand new version of our IDP software suite. IDA 5.2 is out now! What's new with IDA 5.2? LLM-based Extraction: Extract data from unstructed documents simply by using prompts. Plug-and-play Recognition SDK: Enhance your data capture by using unmatched OCR/ICR. Redaction: Protect sensitive and confidential information. Image Normalization: Minimize your file size for efficient processing and archiving. About IDA The IDA software suite offers comprehensive capabilities for customers with the common desire for short time-to-value automation and high-quality data ...

From Loan Imaging to Cold Storage: Extend AccuAccount’s Automation Potential with Additional Content Management Capabilities from Alogent

By Cameron Marks posted 02-15-2024
Efficient document and information management is increasingly important for modern financial institutions. Paper documents, siloed information, and outdated technology create operational bottlenecks that can be difficult and costly to solve. But, with so many other initiatives going on at your bank or credit union, identifying and implementing a new solution can seem overwhelming. At Alogent, we provide technology to help banks and credit unions overcome challenges that impact productivity, growth, and financial performance. Our process automation suite of solutions , FASTdocs and AccuAccount , are two great options for financial institutions looking ...

Five Reasons Legal Wants You to Delete Your Emails

By Tali Mayer Chissick posted 02-07-2024
Legal departments are driving the demand to delete emails in most organizations. What’s behind their desire to get rid of everything? Email management is a constant tug-of-war between legal and compliance stakeholders and those working within specific business units. The former wants to delete nearly everything, while the latter would prefer hanging on to every last thread and attachment. While having a comprehensive archive of previous clients, vendors, and internal communications can be a useful resource, it’s simply not worth the risk for your colleagues standing guard against potential liabilities. To better understand their perspective, let’s dig ...

How to Get More Done with Your Desktop Scanner (& AccuImg)

By Cameron Marks posted 01-25-2024
Large quantities of paper documents arrive daily at financial institutions. Despite the shift to digital, banks and credit unions still need a scalable way to manage the seemingly constant flow of financial statements, tax returns, insurance documents, and other information. Many financial institutions have already adopted document management systems, yet some still struggle to overcome recordkeeping headaches. To enable efficient loan document management, banks and credit unions should implement solutions that eliminate bottlenecks and drive greater adoption from stakeholders. At Alogent, we’re continually looking for ways to empower customers and drive increased ...