AccuAccount Live! Life of the Loan: The Operational Playbook for Every Stage

All for joining us today. My name is Kara Talcott. I am the marketing communications coordinator here at Allogene. In today's webinar, we're gonna be kicking off the first installment of our AccuAccount live webinar series, Life of the Loan, the operational playbook for every stage. We have a great speaker here with us today, Jamie Biggs, Alligent sales manager for AccuAccount. If any questions come up during the webinar, please feel free to type them into the chat box. We'll have a designated q and a segment to answer any of those at the end. And with that, I'm gonna hand things over to Jamie. Thank you, Kara. Hi, everyone. Like Kara mentioned, I'm Jamie Biggs here with Alligent. I'm a sales manager, and I work primarily with AccuAccount. I've been with the company for about seventeen years. So, again, if you have any questions, feel free to put those in. I'd be happy to get those answered at the end of the session. So for today, we're going to be looking at AccuAccount, and the main features that we work around are loan management and exception tracking for financial institutions. So our software is built for only financial institutions. We don't work with any other companies. It is a core integrated system for the life of the loan. It is, unlimited users, so you can have as many people working in your AccuAccount system as you would like. When we created AccuAccount, we built this around requests from community banks and credit unions, to really focus on their imaging solutions and the way to track exceptions at their institution. So we do this by helping you retrieve documents easily, track your missing and expired documents, and and manage other types of exceptions in the system as well. So we are having our active account live series. Just wanted to quickly highlight those. We have the life of the loan today, so we'll walk through the beginning to the end of how that loan is gonna start in the system all the way through payout. Our second one is going to be February fifth on imaging. So we'll go more in-depth on the imaging options that you have available within AccuAccount, and that will also go through our quality control features and auditing within the system. February eleventh, we have our tracking webinar. This will go more into detail on how your exceptions track in the system, different types of exceptions like tasks, task groups, policy exceptions, and the reporting options that you'll have available around those. So focusing back on the life of the loan, we start this process with our loan application workflow. The system allows you to put in an application, and you can customize your workflows by loan type. This allows you to route that application around to different departments or individuals, start and stop timers, keep history, send notifications. So we will look at that in the demo so you can see what that workflow looks like. We integrate with your core system. So we will bring in your customer or member information, the loan collateral, and any other accounts that you wanna store in AccuAccount. We update that information nightly so that we stay in sync with your core system. We can integrate with esign or LOS systems. So if you are having documents generated from either an esign product or an LOS, we can ingest those documents so that you never have to touch them. They would be saved in the correct document location for the correct loan. The imaging options in the system. So there's multiple ways that you can get your documents into the system, uploading, drag and drop scan, batch scan, barcode scan, those interfaces. Really, it's unlimited in how you can get those documents into your system to track them for the life of the loan. The exception tracking piece, that's going to look out what documents are missing, what documents are expired, are there tasks that need to be completed, are there policies that you need to track at a customer member level, the loan level, or collateral level? And all of that exception information can be pulled down onto reports. So there are several reports built into the system, and you also have the ability to create your own custom reports within the system around either your, customer or member information, your loans, accounts, collaterals, specific documents, exceptions, and really any data that you're storing in your AccuAccount system. So looking at the agenda for our demo today, we're gonna go through your dashboard options. We will look at that loan application workflow process, which we call Accu approval. I'm gonna do a high level on some of the imaging and exception tracking options, and we'll finish up by looking at high level of the reporting options that you have available from the system. So I'm gonna go ahead and jump over into AccuAccount now. You should see a dashboard page, and this dashboard is completely customizable by user. So everyone can have this set up for whatever their role is at your financial institution. So just a couple examples here. I have a quick search option. I have some loan application information in here. So a lot of these widgets that I have enabled, have to do with applications that are tracking in AccuAccount. You can set up unlimited dashboards, however. So if you have maybe a home dashboard, this might have reports that are pertinent to you. I have an annual review report. So any custom reports that you create within AccuAccount can be shown on your dashboard page. Let's say you're an administrator and there's just specific reports that you need to view daily. You may have a report dashboard where you're just looking at exceptions by branch, by officer, properties in a flood zone, a HMDA report. So really any DataInactive account you can pull onto these reports and onto your dashboard. So we'll come back to the dashboard and look at this as we go through this application process. I'm gonna go ahead and go out to a specific customer page. This will be saved for customer or member information. And as I search for Amalgamated Industries, it's going to load their specific page to house all of their specific information. Up here at the top, you will have amalgamated industries information flowing in from your core system. If there's a change in your core system, that change will reflect an active account overnight. So all of these fields map in. There's also a section where you can have flex field data. So if there's additional fields of information that you want to collect, it can either be added manually or we can import it from your core system. We will also map in your customer or member type. We get codes from your core system to determine these mappings during the implementation process. This can also be labeled in any way that you would like, but that customer type is going to drive your documents that are required down the left side of the customer page. So a way to look at this this customer page layout is it really is is mirroring a paper loan file where you have all of your credit documents on the left and all of the loan or account documents are going to be on the right. When we're looking at the documents, you do have groups of documents in here. So you have a group and then the specific documents that are going to be imaged and tracked within the system for this credit file. When you implement the software, this is completely customized so you can determine what documents you want to have as required, which documents are optional, the order of these, how they're labeled. You have complete control over it. The right side of the page is all account information. So we're looking at one account at a time. This is account ending in four one two. This is the primary borrower is Amalgamated Industries, and we get some additional data coming over from the core system as well. There is a section in here for FlexFill data, so any custom fields that you want to be imported can be collected. You can search on these fields. You can build reports around them. There's a lot that you can do with this FlexFill data. We're also gonna map in that loan type for you so you will have a specific document structure built for your specific loan type. So just wanted to give you a high level overview of the layout of the customer page. We're going to go through an example of an existing customer comes in, and they have, a new loan application that you wanna put into the system and begin tracking. Now if it was not an existing customer, you can go through and add that customer or member very easily into the system with just their name and their tax ID number. That's all it takes. Then you would be able to start this application process. Since the application we are adding is for an existing customer or member, we already have a lot of their credit documents because they have loans on file with us. So you don't have to recollect all of those documents unless something needs to be updated. So we're gonna say Amalgamated Industries is applying for a new loan. We're gonna select this link to add a new loan application. Whatever loan types you track for your financial institution would be would be visible here along with possible statuses. We're gonna choose this commercial revolving line of credit and say the application is in process. So we'll update there, and it takes me to a screen where I can start adding application's information into the system. You do not have to add all of this information. You can go back in and fill it in at a later time if you don't yet have it. The only thing that is required is what the requested loan amount is. We do recommend filling in as much as you can. However, for tracking and reporting purposes, you can put in an estimated close date, address information, loan description, valuation dates, and then you can start the assignment of who's going to be responsible for this application. So you have a lender field. This will bring up any users in your AccuAccount system that have permissions to take actions as a lender. You can also choose who the loan officer is if it's different, what branch this application originated with, and you can have a loan delegate. And this loan delegate can also take actions on behalf of the lender. There are also some terms that you can put in on the application, some pre and post closing conditions, and you can also, at this time, go in and add any guarantor information you would like. You can add additional collaterals to it, and that information would also go through with your workflow process. So just for time purposes, I'm not gonna add that data now. I did pre add an application into the system. So if you click on this view loans back on your customer page, we can see all of the loans that Amalgamated Industries is associated with. This would be primary or secondary relationships, and we're gonna look at this application ending in three nine eight. Now an application looks a little bit different than a booked loan. There's a bigger header section because there's more data that we can collect and track off of. But you will notice as we switch through different loans and different applications, the credit documents stay there. So you're always gonna have those documents visible, and they only have to be imaged one time for that entire customer or member profile. So just a few of the fields that you're going to see out here, all that application data that you entered when you added that application, You can enter the codes that are being used for, this specific loan type. There are timers that you can set to be start and stopped when specific actions get taken. So I have a timer set up to start tracking the total application time when an application gets put into the system. So this application was put in yesterday. We are on day two. You can track this in calendar days or business days. You have that option. I can also see this application is assigned to me as the lender. We don't yet have an analyst or an approver, and we have some statuses that change as you go through this application process. Now the loan type that is selected, so this revolving line of credit for commercial, is going to drive what documents are going to be available to Image. Now I this is a brand new application. I don't have any documents in here, and I can tell because there's red dots. Those would change to green as soon as you have those. And then we have our collateral data for this application down below. So I have, secured by a commercial real estate. I have two pieces of collateral in here, so I also have commercial stock and bonds. That way you can image and track the documents independently for each of those collaterals. So once we have this application information in here, you may need to, say, add the image for the application. So really quickly, I'm just gonna use some sample documents that I have here. Let me move this over here. I'm gonna take a loan application form. I'm just dragging that out of a folder, dropping into that application tab, and it does a quick upload. Now every user that has permission to view applications can see that document, and all these documents are going to move along with the application during the workflow process. So once the lender has gone in, they've done everything they need to do, they're likely adding multiple documents in here, they can now take action on this application. So up here at the top, I'm gonna choose this take action option, And all of the actions that are built in your system that a lender has access to are going to display. So you will see there's a section here for lender actions. There's also sections down below. Looks like we've got quite a few in here. There's approver actions. You're gonna have analyst actions. I have a lot of actions built in here, but you can set up whatever you need to do. You're really building out every possibility that this loan has to take, whether it's routing to different departments, going for credit analysis, going to doc prep, whatever that may be, you can build those out. And, again, that's customizable by loan type. So I'm gonna go ahead and route this new application over to credit analysis. I'm gonna get a drop down of all of the users in my AccuAccount system that have permissions as an analyst, and I'm gonna select Jen as my analyst. You will notice there are groups, so you don't have to assign it to a specific person. You can assign it to an entire group. That person or that group is going to receive an email notification that this application has been assigned to them, and then they would be able to come into AccuAccount, do their due diligence, and then take action on the application for the next step. At this point, I can add approval or post closing conditions. I can add comments in here, and then we're just going to select next. So everything that you do with your application, including adding those conditions, adding comments, the assignments, It is all going to be saved in the history with this application. So we can see it is now assigned Jen as the analyst. It also updated my application status to gain credit analysis, and it updated my analysis status to assign to a credit analysis excuse me, analyst. So as you go through these workflow steps, you'll be able to determine what statuses will be affected, who's going to be assigned, who needs to be notified. You will also see back in our timer section that a second timer has started for timing credit analysis. There would be an action that you would take later on in this process to then, push it to the next step, and that would stop that timer. So you can have as many timers running as you would like. So I'm gonna go ahead and change hats, and I'm gonna log in to the system as Jen. So Jen would get that email notification that this application has been assigned to her. When she comes in, she's gonna have her dashboard set up for however she wants to view it. You can see I've got some application timers, my pending loan approvals, and application pipeline report. So, again, everyone has that, for what's most helpful for them. But there is this pending credit analysis widget that I have turned on since me as Jen is a credit analysis, and I can see that Amalgamated Industries for application three nine eight has been assigned to me. So this is just a quick way that you can get to the applications that are waiting for you to take an action on them. I'm gonna go ahead and click on that application number. It takes me right to that customer or member page directly on that application. So Jen can now go through. She can review the documentation. She can add more documents, add comments to this, really whatever she needs to do with her role. She can view these timers. We can also look at the history for what has been done on this application. So the loan was created. Originally, I created it back in November. I updated it yesterday, changed some assignments, and then I now just took this action to route it to credit analysis. We can even see the comments that I added in there. So every time an action gets taken, it's just going to build on that history, and that history is going to stay with this application. And with the loan, once it books, you'll always have access to that history. I'm gonna go ahead and sign out and just log back in as myself for the rest of the demo here. Just wanted to give you a good idea of how that application workflow would work. You can continue wrapping that around as many times as you need to. Now looking at a few of the other imaging options that you would have available, we looked at that drag and drop. So if you have additional documents that are already saved out on a shared drive, you can easily just drag and drop those to that customer or member's page. You can do scanning options by editing the documents. You can do a traditional upload. You can print documents into the system. And one way that I wanna show also is that you can drag and drop documents that are coming in an email. You do not have to save them first. So, let's say that this is the new financial statement for Amalgamated. It comes through in an email. I can just take that attachment and drag it right into that document tab. K. So now I have that new financial statement. It's there to be viewed by anyone who has access to AccuAccount. Another form of imaging in the system is through our Accu Image software, which I'm gonna go ahead and minimize this down. Bear with me for a second. You will have an Accu Image license if you are an editor in Accu account, and this allows you to do batch scanning, document editing. You really can manipulate an image in any way that you would like by using Accu Image in here. So I'm gonna go ahead and launch this, and I just wanna show you an example of what our batch scanning looks like. If you have a a document built out here, let's say you just imaged this through your multifunction device. Maybe it was emailed to you and you saved it. It really doesn't matter where it comes from. But let's say that these are images for that new application and everything got scanned over as one PDF file. I'm gonna take this PDF and just drag and drop it into my Acumen platform here, and it's gonna show me thumbnails of all of those documents that have been put into that PDF. I can then break this apart. So if I say, okay. Page one, two, and three, that's a specific document. I'm gonna drag it up here to the top. It brings breaks out those three pages separately. I can say page one is its own documents, page two, and then we'll say this last page is out there was actually supposed to go in with an existing document we already broke apart. So you can move these documents around really easily. You can rearrange the images, rotate, annotate. Really anything that you can think of you can do with our Accomage program. Once those documents are broken apart and I'm gonna go back to the customer's page here. You could start just dragging and dropping these into the application. So let's say, for example, this document is our risk rating worksheet. Just gonna drag that down. It does a quick upload of those two pages. So it will combine the two pages, and now you have that document saved under your application. So very quick process of uploading these documents if they get sent to you in a bulk file. Now looking at the exceptions that are tracking, and this works the same way on the credit side as it does a loan or an application. You can go into this exception tab. You'll see that on the account side. There's also one over on the credit side. Looking at the loan, we can see all of the items that are currently missing that we need to collect for this application. Items that are needed right away will track as an active exception with a red exclamation point right off the bat. If it's something that is pending and you've set up a grace period, so let's say you need to collect these items within ten days, It's going to be considered a pending exception with a yellow exclamation point so you can filter those out of your reports as needed. Few other options. Just looking at the credit side for some of these exception options. We can see I have an expired certificate of good standing about to come up. I have a missing OFAC document. So this is automatically going to track anything that is missing or expired. And when you add those documents or you update an expiration date on a document, that will automatically clear that exception from your reports in real time. Now for reporting, we have a lot of different reports available. We're not gonna get into all of these today, but we do have eleven canned exception reports that you can set up on a subscription. You can also pull these reports on demand anytime you would like to see them. Just wanna give you an idea of what that report looks like. So if you have an exception report by officer emailed to your lenders, it's going to have the report that you would pull on demand embedded into an email. So your lenders can go in, and they can work their exceptions right from this email without ever having to get into AccuAccount if they didn't want to. However, there are hyperlinks, the customer member name, number, and the loan or account number. Those are hyperlinks. So if your lender needed to see something on that page, they can use that hyperlink to be taken right into that page to view the loan. Any comments that you add on your exceptions would also be displayed on that exception report, so that's going to be emailed out automatically. And then we have the ability to generate notices out to your customers or members. They can also be generated to a third party to collect exception information. So you can do a combined letter of anything that's missing or expired onto one letter, and it can be either printed or emailed out of the system. We do offer stage notice letters. You can have a first, second, third notice that gets generated, and we keep a full history of those notices that come out of the system. We are working on a customer portal currently that should be released within the next couple months to where when you generate a notice letter out to your customer or member via email, they can click on a link and upload the requested documents. One of the reporting option I wanted to highlight is the ability to create your own reports. With dynamic reporting, you can create unlimited reports. This could be for exceptions, document information, data. I'm just gonna select this exception report by officer just to give you an idea of how easy it is to go in and sort data, pull data, You can pull in flex fields into these reports. You can rearrange columns, sort just by clicking on these headers, and do different grouping options as well. So if I wanna group by officer, by customer, you have some collapsible fields in here. But there's a lot that you can do to build out these custom reports. You can then pull these reports on demand. You can export them, email them, and these are the reports that you can have set up to display on your dashboards. Now I wanted to go through one additional feature just talking about the full life of that loan, and that's when a loan pays off. I'm gonna go ahead and go back to Amalgamated Industries just for one last example here, and we're gonna look at a loan that has now paid off. So this third loan here, gonna go ahead and click on that. The page will refresh with a different loan that has a paid out status. We're gonna get that status from your core system so it automatically updates when there's a payoff. You'll see the balance information will all also update to zero to zero. Excuse me. And you would see that exceptions are optionally no longer tracking. So you can have the exceptions ignored for paid off loans if there's nothing that you want to track. Also, if all of the customers' loans went to a paid off status, the credit exceptions would then automatically be ignored. That is configurable and optional, so you don't have to use it if it doesn't work for you. Most of our financial institutions do use that feature, however. If you are tracking exceptions on your paid off loans, you have the ability to track, certain items that may need to be completed when a loan pays off. An example of this is using our task group option. And in here, you're going to have prebuilt task groups that you have control over. So you can build these in any way that you would like. So I'm gonna choose my loan payoff task group, Choose update, and it's going to enable all of the tasks that need to be completed when a loan is paid off. So these will start tracking as active exceptions on your reports. You can have optional assignments. So these tasks would show up on my report. So I need I know that I need to go complete these items because this loan has paid off. So let me go ahead and jump back into our presentation here. I did want to review just a few success stories. I'm sorry. Having a quick issue there. A few success stories that we have seen with financial institutions that have moved over to using AccuAccount. Sending emails. Everything's done automatically within AccuAccu approval. Our second point there is using digital files over paper files. So we see over a hundred hours per week saved by using digital files throughout the financial institution. Not only is it easier to go in and pull these documents, view them, review them, do QC options. We also have that audit feature built into system that really allows you to build out your files for your auditors in a matter of minutes instead of hours or days. And then exception reporting, we've seen savings of up to forty hours a week because excuse me, forty hours per week because you no longer have to go in and build those reports manually, review spreadsheets, everything is done automatically for you within the system. So at this time, we'll go ahead and turn it back over to Kara to, get some questions asked and answered. And if you have additional ones, go ahead and put them in the chat box on the GoToWebinar. Thank you so much. Just like Jamie said, we're gonna get started with our q and a. I see we have a few questions in chat right now. Does the application workflow have to be used to image documents before a loan is booked? That's a great question. No. It does not. So you have a couple options there. You can use that workflow process to do early capture on your documents like we've looked at today. If you already have an LOS in place or a process that works for you and that's not something you're looking to change, you can use AccuAccount for just the imaging and exception tracking after a loan is booked. Now if you are wanting to track those documents ahead of time, you can manually add a customer or member. You can manually add a loan. Even if you don't have the loan number, you can put in a temp loan number and begin imaging to that loan until it actually gets booked. So absolutely yes. Thank you. Next question I see is, do exceptions track on applications? They do. Yes. And and that is a configurable option. We do have some financial institutions using our approval process that do not want to track exceptions. So there is a setting where we can turn those on and off, but, typically, we would see those, exceptions track, especially if there are tasks that you want to track on your applications. Thank you. And it looks like we just have one more in chat. Can applications be exported for auditing purposes? Yes. They can. We have our audit functionality. We're gonna go through that in the next webinar that we're doing on imaging, but the audit export allows you to build out your customer remember data, your specific loans, collateral, or applications. So if you're wanting to build an export with just application data, you can drill down by application status, branches, officers, origin I'm sorry, dates for when those were input or closed out to build out an export to give to your auditors. Thank you. And thank you everybody else for joining us today. If you have any additional questions, please reach out to marketing at all marketing at alligent dot com or visit our website. Please make sure to check out our events page for all future webinars and the, other installments in this series. Thank you to everybody in the audience. We appreciate your time with us, and have a great day.