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.
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.

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

Alogent Fraud Mitigation Solutions

Check fraud - using paper or electronic checks to obtain money illegally - can occur at any step in the user journey and from any device or workflow by forging an account holder’s signature on a stolen check, altering a legitimate check, or writing a...
Read More »

Banker's Tracking Calendar

Key Dates to Track in 2024 [PDF] Download this 2024 calendar to track key submission and reporting dates, tax deadlines, and other important dates. Avoid last-minute scrambles this year. Customize Your Calendar for Maximum Results This tracking calendar also...
Read More »

Related articles

Monday 26 February 2024

Banking Innovation: Are You Keeping Up with Transaction Processing Trends Shaping the Banking Market?

The payments landscape continues to take shape with alternative payment and cashless transaction methods, yet in the face of persistent digitalization, checks remain a viable…

Learn More »

Thursday 15 February 2024

Meeting Gen Z’s Banking Demands and Remaining Relevant with the Largest Generation in American History

The year is in full swing, and financial institutions are keenly observing the emerging powerhouse of economic influence: Generation Z. This generation isn’t just digitally…

Learn More »

Tuesday 6 February 2024

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

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…

Learn More »

Wednesday 24 January 2024

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

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…

Learn More »

Tuesday 16 January 2024

Is 2024 the Year of Mobile Banking for Banks and Credit Unions?

Although mobile banking has become commonplace, this is still an area for banks and credit unions to differentiate themselves. Given the market's ever-growing demand for…

Learn More »

Tuesday 9 January 2024

Beyond Resolutions: Keeping Account Holders Loyal and their Money Savvy for the Long-Term

While nearly every adult makes at least one resolution in the new year, some estimates suggest less than 10% complete them – due to unforeseen…

Learn More »

Wednesday 27 December 2023

2024 Retail Banking Trends: Insights and Tips for Banks and Credit Unions to Drive Growth

2024 is going to be all about optimization: strategies, processes, and solutions that have transformed the banking world this year. But, it's important for technology…

Learn More »

Tuesday 12 December 2023

It’s the Most Wonderful Time of the Year… for Check and Payment Fraud

Payment scams and online threats are ever-present, and with evolving techniques and emerging technologies, fraudsters offer a renewed threat this holiday season. Despite the increased…

Learn More »