Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Banking Management Software

Banks and credit unions utilize a variety of management systems to ensure smooth operations and maintain compliance. The most common types of banking management software include:

Core software – The core system database is arguably the most important type of banking management software, as it is the source for information relating to loan and deposit accounts. The core performs a variety of mission-critical tasks, such as calculating interest owed to depositors as well as indicating payments that are due or past due. Executive reports can also be produced from core software.

Document preparation software – Banks and credit unions use document prep software to generate new account and loan documents. Doc prep software helps financial institutions eliminate administrative work while providing an added sense of uniformity to the lending process. It’s also become a vital component for ensuring compliance with federal and state regulations.

Document management software – Document management software saves banks and credit unions time, space, and money by simplifying the storage and retrieval of important information. Electronic files can also be purged after mandatory retention requirements are fulfilled, thereby aligning with compliance guidelines. Software developers, such as Alogent, offer a variety of document management solutions for frontline and back-office use cases.

Underwriting software – Underwriting software simplifies the collection and analysis of an applicant’s data so the bank or credit union can make an informed lending decision.

Teller platform software – Tellers use teller software to perform their day-to-day duties: accessing client accounts, processing deposits, cashing checks, and balancing their cash drawers.

Compliance management software – A variety of compliance-related apps exist to help banks and credit unions streamline data collection and report preparation, such as federal call reports and Community Reinvestment Act (CRA) reports.

Customer relationship management CRM software – The intent of a bank or credit union CRM program is to help with loan origination and application processing. CRM software can also be used to identify targeted lists of customers and members for digital and print advertising campaigns.

Banking Management Resources

For more information about banking management best practices, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and eBooks.

Browse our banking definitions page for more terminology.

Explore more resources

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