Blogs

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 ...

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 ...

Document imaging technology is a key component to an enterprise content and information management (ECM / EIM) strategy, enabling multiple efficiencies for your bank or credit union. For starters, digitized documents are typically more accessible and enable faster reporting than paper files, allowing staff to do their jobs quicker with less frustration, and to deliver better customer and member services. Once imaged, electronic files can be easily backed up to a server, reducing the risk of information loss of the physical document. Similarly, a virtually limitless number of electronic documents can alternatively be stored in the cloud , allowing scalability ...

Document management is often considered a “back-office” function that minimally impacts a financial institution’s key business objectives. In reality, streamlined document management can play a key role in driving operational efficiency and fostering healthier relationships with customers, members, auditors, and examiners. Alogent’s webinar, Instantly Find, View, and Share Documents with AccuAccount , explored how to leverage effective document management to engage multiple stakeholders. Let’s take a closer look. Commercial Lending Customers Here’s the situation: John needs a line of credit to acquire a new piece of equipment for his business. It’s ...

Here’s the situation: Your financial institution is growing—more branches, more team members, more loan and account holders, and more follow-up. To keep pace with this complexity, you need a flexible, reliable way to assign, track, and manage tasks. In the past, employees have managed their own to-do lists with handwritten notes, spreadsheets, and email inboxes. However, this approach is difficult to scale and offers minimal accountability. Centralizing your task management in AccuAccount can enable a more efficient workflow for contacting customers, inspecting inventory, ordering appraisals, coordinating loan documentation, and numerous other to-dos. ...

Proactively dealing with missing and expiring documents is a key component of an effective exception management strategy. However, that’s easier said than done when your financial institution manages hundreds of customers or members, thousands of pages of documentation, and a seemingly infinite number of document schedules. This article shares two “plays” to resolve exceptions for documents that must be collected on an ongoing basis, such as customer or member financial statements, tax returns, certificates of good standing, operating agreements, UCCs, rent rolls, and insurance documents. Play #1: Creating “document placeholders” for missing documents Collecting ...

Financial institutions use the phrase “ cold storage ” to describe technology for managing core-generated reports, statements, notices, images, and other documents. Front-line and back-office staff rely on cold storage to access a variety of information, including loan and account statements, teller transactions, and images of cashed checks. Let’s take a closer look at cold storage and explore how financial institutions can streamline their workflows with FASTdocs from Alogent. Two Common Use Cases for Cold Storage Cold storage systems can support numerous use cases at banks and credit unions. Here are two practical examples as mentioned during our ...

Here’s the situation : Your financial institution relies on a variety of technology to ensure efficient commercial lending origination —everything from loan origination systems (LOS) to eSign products. Wouldn’t it be nice if you could automatically extract documents from these systems and move them into the right place in your imaging system? Connecting your document imaging system to other commercial lending tools can accelerate productivity, reduce administrative work and oversights, and create a more scalable lending workflow. This article explores our approach for helping clients create interfaces to achieve these goals. Interfaces Playbook Not every ...

What would you do if your imaging provider “sunset” its current solution? It might not be pleasant to think about, but it does happen in the banking industry. If you’re currently dealing with a sunset situation , you may have more questions than answers. That’s OK! We’re here to help you find answers to difficult questions. Let’s get started! Assessing Your Options Avoid the temptation of jumping to conclusions. It’s entirely possible that your current vendor has developed an easy transition plan that won’t require much of your time and effort. Or, perhaps that isn’t the case. Does your imaging vendor offer a satisfactory replacement? Spend time ...

Here’s the Situation : Your bank just made the decision to implement a new document management system. Now, it’s your job to systematically work through years and years of paper documentation and get everything into the new ecosystem. Depending on the size of your bank and the number of branches, this could be a multi-month (or multi-year) project. You’re already busy enough—how will you ever have time to oversee the scanning and indexing of thousands of documents? Here are two popular “plays” from our backlog playbook. Play #1: Using a Multifunction Device & Barcoded Cover Sheets We’ve implemented hundreds of banks onto AccuAccount . In ...

Here’s the Situation : You’ve been tasked with digitizing a huge backlog of paper documents as part of your bank’s transition to a document management system. You could use a multifunction device with barcodes , but you’re leaning toward using the desktop scanner (in the comfort of your own office) to systematically work through each customer’s file. Here are a few “plays” for working through your backlog with a desktop scanner. Play #1: Scanning Directly into the Customer’s Electronic File One of the most common approaches that we see involves scanning documents directly into a customer’s electronic file. This makes perfect sense from a process standpoint, ...

Here’s the Situation : You’re working on digitizing your paper backlog, but taking a customer-by-customer approach to scanning doesn’t make sense in every situation. Perhaps some documents in your backlog aren’t as neatly organized as you’d like. Or, perhaps you have many branches and lenders, so relying on couriers isn’t feasible. In either case, batch scanning might be a good option. Here are two “plays” for backlog scanning in batches. Play #1: Batch Scanning with a Desktop Scanner Don’t underestimate the power of your desktop scanner. Depending on the scanner’s capabilities, you may be able to scan dozens of pages per minute from the comfort of ...

Here’s the Situation : Your bank would like to switch to a new document imaging vendor, but manually migrating years’ worth of loan files, customer tax returns, deposit account information, and other documentation seems impossible. It sounds like your financial institution could benefit from an automated approach . This article explains how Alogent works with banks to efficiently transition information from their existing imaging systems to AccuAccount . When Does a Vendor-Led Conversion Make Sense? Sure, you could ask your loan admin team to drag and drop or virtual print documents into AccuAccount. But, in today’s tight labor market, they’re ...