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.

Tickler Files in Banking

A tickler file is a paper or digital reminder system. It organizes a list of current or future tasks that need completed or tracked—either once or on a recurring basis.

One-time and Ongoing Tickler Items

When setting up accounts, financial institutions rely on a tickler system to ensure that a variety of one-time events occur. Among these are confirming receipt of a:

  • recorded deed of trust/mortgage
  • title policy
  • initial UCC filing statement

Ongoing tickler reminders are used for items such as:

  • insurance
  • financials
  • UCC financing renewals
  • property inspections

Tickler File Types, Pitfalls, and Solutions

Financial institutions employ many kinds of tickler systems. Techniques can be as simple as using a checklist or flagging email inbox items for follow-up. Other options include spreadsheets, online calendar events, and Microsoft Access databases. However, all these methods rely on manual follow-up by bank or credit union employees, which introduces the human error element. These tickler files are only as reliable as the staff doing the work.

To further complicate matters, even departments within the same branch, such as deposits and loans, may use separate tickler files that do not communicate with each other. This can lead to inefficiency and subpar client care, with multiple bank representatives contacting the same customer within hours or days of one another.

Modern financial institutions overcome these issues by using a complete digital banking management solution, such as AccuAccount, to merge ticklers into one account-holder-centric system. This type of exception tracking software automatically generates new reminders based on document type, and recurring reminders are easily scheduled as well. In addition, a bank representative can prepare for a customer meeting by running an exception report to determine which documents the client still needs to provide regardless of the department needing them.

Importance of Tickler Files

Tickler files are vital in the banking industry. Ensuring all of an account’s necessary documents are received and/or current is imperative for compliance and banking examinations. As referenced above, however, consolidating tickler systems into a comprehensive exception management system can boost a financial institution’s productivity, internal communication, and customer service by acting as an organization-wide account management tool.

Banking Resources

Searching for more information about tickler files? Be sure to check out our extensive resource library with free spreadsheets, whitepapers, videos and eBooks.

Browse our banking definitions page for more terminology.

Explore more resources

eBook: NXT Business Digital Banking

Small business (SMB) account holders are turning to desktop banking and mobile applications to manage day-to-day transactions and simple payments. However, many find their digital banking needs unmet. Larger financial institutions often offer products and...
Read More »

Remote Deposit Capture (RDC) eBook

Remote deposit capture (RDC) ranks as a significant feature of modern banking. In fact, a San Global Research industry report projects the RDC market to grow at a compounded rate of 5.8% through 2032. As the banking industry continues its digital...
Read More »

Related articles

Wednesday 12 June 2024

4 Tips for Faster, Easier Loan Management Audits

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…

Read the Blog

Wednesday 29 May 2024

The Importance of Account Holder Education: Best Practices that will Keep Digital Banking Users and Your Institution Safe from Fraudsters

Financial institutions often hesitate to enforce complex password requirements and regular password changes in their security policies due to concerns about inconvenience, which could lead…

Read the Blog

Tuesday 21 May 2024

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

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…

Read the Blog

Monday 13 May 2024

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

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…

Read the Blog

Thursday 9 May 2024

Beyond the Screen: The Value of In-Branch Banking for Young Consumers

Is in-branch banking regaining popularity? Bank and credit union leaders should not count the branch out just yet. In fact, some of the largest institutions…

Read the Blog

Tuesday 30 April 2024

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

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…

Read the Blog

Wednesday 17 April 2024

Why Should Credit Analysts Use AccuAccount?

Credit analysts need reliable access to credit documentation in order to do their jobs well, including account holder financial health data. Although it is frequently…

Read the Blog

Tuesday 9 April 2024

Advocating for Streamlined Document Management at Your Financial Institution

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…

Read the Blog