Batch scanning is the process of scanning more than one document in a single action. For example, a lender might use batch scanning to quickly digitize an entire loan file for a customer.
A BSA Compliance Officer coordinates and monitors adherence to Bank Secrecy Act regulatory requirements, which are focused on detecting and halting money laundering.
Cold storage in banking provides a snapshot of each day’s activity at a financial institution. Cold storage houses a variety of reports, statements, notices, and images generated by a bank’s core system as part of its nightly processing.
Collateral is something of value that a borrower pledges at a bank’s or credit union's request to mitigate the financial institution’s risk in the event of nonpayment.
Collateral inspection is a process performed by financial institutions to confirm the value of the collateral used as security in loans.
Collateral perfection is a process that financial institutions go through to protect their ability to take ownership of collateral in the event of default. Maintaining proper documentation and ongoing tracking procedures are key steps for perfecting collateral.
Commercial credit analysis ratios are used by underwriters in business loan determinations.
A commercial loan is a loan that is made to a business entity, as opposed to a loan that is for personal or household use.
The phrase “commercial loan software” is frequently used by bankers when referring to loan origination systems and document preparation technology.
Commercial underwriting involves gathering and analyzing information to make an informed decision to approve or reject a commercial credit or loan request.
A compliance committee plays a key role at a bank. Composed generally of the financial institution’s compliance officers, including those in charge of personal banking and commercial banking, as well as a Bank Secrecy Act (BSA) officer and Community Reinvestment Act (CRA) officer, the team is responsible for ensuring the bank adheres to all existing compliance regulations.
Core banking systems serve as the central repository of account and general ledger information for financial institutions.