Alogent Webinar: Don't Let 'Out of the Office' Impact Your Lending Workflow

Good afternoon, and thank you for joining our presentation for Accu account. Don't let out of office impact your lending workflows. I'm Jamie Biggs. I'm a product sales specialist with Alligent, and I've been with the company for about fourteen years. I have worked on our support and training teams as well. So if you have any questions as I go through the presentation on how AccuCount or AccuApproval works, feel free to put those questions into, the GoToWebinar question panel and I'll answer those at the end of the presentation. Alright, so the loan application process has many potential points of failure, especially when a financial institution relies on paper documents, manual tracking systems, and, interoffice mail. So that might include lender oversights. So how does somebody know when, a customer submits a new loan application besides the lender if they are out of the office? This also means that there might be a varying level of complexity. So each loan type for your financial institution may vary in processes and document requirements. So knowing what to collect and which actions to take and when requires some pretty solid processes at your institution. So that can be kind of hard to do and to guarantee when you're relying on spreadsheets and one off checklists that you may have in place currently. We also see that emails can be overlooked. Misplaced documents can create bottlenecks in your lending processes, and then you have risk of losing information. So an email can get lost or put to the bottom of, a to do list. Paper files can get lost, and if somebody just leaves something on their desk or locked up in a drawer when they go out on vacation, it can be really hard to get to that information. So we're gonna look at how, we can overcome some of those bottlenecks and we're gonna talk about AccuApproval which is our loan approval module for AccuAccount. So first of all, I wanna give you a high level overview of AccuAccount's capabilities. Our loan approval workflow, accuapproval, is our early capture process so that documents don't get lost or set aside when somebody is out of the office. So it's an electronic way to track your loan applications. We also integrate with your financial institution's core system. So we've worked with over thirty different core products to bring in customer loan and account data so that AccuAccount stays in sync with your core system. We also work with e sign and LOS products. So if there's any documents or data that you want to import into your customers pages within Accu account, we do that during the nightly import so you aren't having to double up on work. We can also add our images into the system. So all of your customer or credit documents, your loan applications, loans, deposit accounts even, anything that you're wanting to image for your customers, you can bring into the customer's pages. So we have several different ways of uploading and scanning those documents into Accu account. We also have what we've called integrated exception tracking. So this means that we look at the document information in order to determine if an exception should track. So if a document's missing, we automatically track that missing exception. If a document has expired, we automatically track that on your reports. And then as soon as that information is updated and you receive an updated document, we would then automatically clear the exception for you. So just by doing the imaging piece within our software, you're gonna have, automated exception reporting. And then finally, we have many reports that you can pull out of the system. This includes your application pipeline reports, so you can pull those on demand at any time. We also have exception reports, expiring document reports, data reports, just to name a few. These reports can be emailed out to you on a regular basis. So if you want all of your lenders to receive their reports or items that are tracking on a weekly basis, that can be generated and show up in their, inbox every week. So you have full control over any of those reports that get generated. Also, you can create custom reports, and those can show up on your dashboards, which we're gonna look at today, so that you can see when you log into Accu account that you have that information right there in front of you to start working on either applications that you're tracking or any, expiring, missing, or tasks that need to be completed. So let's talk a little bit more about AccuApproval. AccuApproval allows for the early capture of documents when you receive an application from your customer. So you can scan in your loan applications and any related document information into AccuAccount, to reduce oversight, which enables access from multiple branches. So anybody at any location can view those documents once they're put into Accu account. So you may drag and drop electronic documents that you receive. Those can be scanned into the system, but you can store everything in a secure secure electronic environment rather than emailing sensitive documents back and forth. It also allows collaboration for individuals or groups of individuals involved in your application process. So you may assign your application to a credit analyst or an approver, or you could assign it to a group. So this could go to loan committee or, the board for approval. So you can determine how those get assigned out within the workflow processes. So those workflows are going to be defined by each of your loan types within Accu account. So you'll build out rule based workflows for each step of your lending process. So commercial real estate workflow flows for example, that could automatically assign tasks to staff that are responsible for pulling a credit report, coordinating the title work, ordering the appraisals, and whatnot. They can also get an automated email from the system to track these items, and those can be put on your dashboard page when you log into the system. So AccuApproval allows you to move that application through the entire workflow process, beginning from the first contact with your customer all the way through booking or denial. So that really gives you some control if somebody is out of the office where you can go in and look at these pipeline reports, review all the documentation, and make sure that nothing is falling through the cracks. So there's a lot of different features built into accuapproval. First of all, we do all of the tracking of, your pipeline reports, your documents exceptions. We turn on timers to track. So for every step that that application goes through, you can have a timer be started so that you can track the entire application's, time that it's taking or the time it's in credit analysis or and make sure if somebody's out of the office that it's not just sitting for too long, if there's time sensitive information. It will also send out notifications to your departments, the reports we've talked about, pulling those pipeline reports out of the system either on demand or having those emailed out to you. You can add comments that get saved to the application's history during every step of the process. We take application snapshots anytime that you're wanting to see a snapshot in time of the history for that application, and we save it to that application. So that can happen multiple times throughout your approval process. We can track pre and post closing conditions for the application. We'll track your missing and expired documents. Your declined applications are saved in the system. So if a customer comes back later on, you still have their credit documents. You don't have to re request that information. And then you can set up purge rules from when you wanted to have that information deleted. And then we have built in security by user. For every user that pull, comes into the system, you can say that they have, the ability to work as an analyst or a a lender or a croover, or maybe they can only view the information. But there's a lot of security that is built into our actual approval process. So I just wanted to give you a quick overview of what this approval process may look like. Not gonna go through all of these right now, but just so you know that you can set up these custom workflows. This is a very simple process here. We get the loan application. It goes to credit analysis approval, doc prep, and so on. But you can make this as simple or as complex as you need to per loan type within AccuAccount. So we're gonna go ahead and jump into AccuAccount so you can see some of these features in action. What you're looking at here is our dashboard page within AccuAccount. So every user that logs into AccuAccount can have their own dashboard page set up for whatever they want to view or whatever pertains to them and their job role at your financial institution. You can also have as many dashboards set up in the system as you would like. So I have created this dashboard in here called application updates. So if I'm keeping track of, my my lender's applications, I need some overview information when I log in, there are several different widgets that you can turn on. You can rearrange these, resize them. You can even have, custom reports that you create be displayed on your dashboards. So a couple of these that I have enabled, I can see all of the active loan applications. I can see what is assigned to me as a credit analyst or as an approver. So again, that's going to be based on the permissions within the system. I have a listing of my approved applications that are ready to be booked. I'm gonna jump over to this report here, this loan application by lender. This is a custom report that has been created. So again, you can turn this on to any of your dashboard pages, scroll through your reports, you can sort by clicking on the columns here, you can group it, whatever you wanna do right here on your dashboard to review that information. And jumping back here, there's also a panel for tasks. So these are any tasks that need to be completed that are assigned. So right now, you can see, if we go into this exception filter setting, I can look at a specific officer's tasks that are tracking or I can do it by assigned user. So that is what I've done. I've actually selected Alex Haley as the assigned user because we're gonna say that Alex Haley is out of the office and I want to be able to follow-up on tasks and applications that he has assigned to him to make sure that nothing's falling through the cracks. So these are Alex's outstanding tasks. So for this Mitchell Family Trust, he needs to follow-up on these e sign documents, needs to schedule an annual review for Timmy's boat services, and then anything having to do with the application process can be added as a task and tracked in this window here. So it's very easy to see what is outstanding and what may need to happen when somebody's out of the office. And I'm going to jump back to this lender report here. We're actually going to focus on this top application that's listed here. So this is assigned to Alex, and we can see that the application status is set to ready for document prep. So that may have happened since Alex has been out of the office. It may have gotten assigned back to him. Now action needs to be taken on this application. So if I am the assistant or a manager needing to update this information, make sure that, you know, work is being done to keep things moving in the pipeline, I can do this from the report. You can also pull pipeline reports on demand. So we have our application, reports in here that you can pull by lender, by status, however you're wanting to see that. And again you can build out custom pipeline reports for exactly what you're wanting to see. So I'm going to go ahead and go to this application. So you can see the customer's name, the customer number, the application number. Those are all hyperlinks that are going to take you directly to that customer's page. So up along the top, we're going to have all of the customer's information. This maps in from your core system. We're also going to have the customer's credit documents down the left side of the customer page, which is based on this customer's, customer type. So corporation customer is gonna have a specific document set, an individual customer may have completely different documents out here that need to be collected and tracked. Now the right side of the page is what we're going to focus on and in here we have this application started ending in one hundred and seventy five. So we have a lot of information that we can store and collect in these banners for each of your applications. We can see the loan type being requested, and that loan type is going to drive what documents are going to be required for this application down below. That will also determine what is going to track on your exception reports if you are wanting to track your applications. You can see that this is assigned to Alex Haley as the officer. We have several other fields of information that we're collecting here. And then we have a section for timers. So the timers are going to track every time a specific step or action has been taken on this application. Application first, you're gonna see twenty four days have elapsed since this application was started. Time and approval, time and cred analysis. So when it gets sent to those departments, that's gonna start tracking those timers, and you can determine if you want those to track in calendar days or business days. We also have some assignments down below. So we can see the lender, you can see the analyst was actually assigned to, the credit analyst supervisor, so that's a group. And when you assign an application to a group, all of the individuals in that group are going to receive an email notification about this application as well as being able to come into Accu account and take actions on this application. We also have an assigned prover which hasn't made it that far so it's still unassigned. You have a delegate so somebody else that can take action on behalf of your lender And then I'm going to focus on these statuses down below. So just looking at where this application has made it so far, our total application status here is that it's ready for document prep, our credit analysis has been completed, and the approval of this application is still pending so we're waiting on document prep to happen at this point. So since our lender Alex Haley is out of the office, I'm logged in as myself, Jamie Biggs, and I can go out and see what needs to be done on this application again just to make sure that it's not falling through the cracks. I can view the documents that have been imaged. I can view credit documents. I can add additional images if, more information has come in. And when I'm ready, I can take action. So if I want to route it to our document prep department, or whoever that needs to go to based on your processes, I can take an action on this application to route it to, the next step along this process to make sure that these applications continue working even when somebody is out of the office. Once an application has made it through the approval process, this would show approval here, it can then be converted over to a booked loan. So when your loan books in your core system, we're gonna sync up this application and that new loan so you are able to keep the history of everything that ever happened on this application. So we can actually see that this was put into the system, my demo site here back in twenty twelve. You can see every step that has happened along the way for this application and this cannot be removed. So once this becomes a booked loan in your system, you always have access to that application history tied to that loan. So that's a very high level overview of our application workflow process and how it can be used to help benefit you when you have users, lenders that are out of the office. So I'm going to go ahead and open this up for questions that you may have. Again, you can put those into the question panel or the chat panel on our GoToWebinar meeting. So I do have a couple that were sent to me in chat. Again, you can use chat or the questions panel here. Do you have to use Accu approval for early capture? No. You don't. You can use AccuAccount to do early capture, regardless if you have AccuApproval, which again is our workflow process. But doing AccuCapture, I'm sorry, doing early capture without AccuApproval is much more simplistic. It is just going in and manually adding your customer application, determining if you want it to track exceptions, but you're not going to have the workflow processes built in. It's not going to show up on any type of pipeline report, but it is it is possible. And, do exceptions track on applications? So exceptions meaning, missing expired documents, that is configurable with an active account. So you can choose if you want items to track or not on your applications. That is something that we would, assist you with and help you determine if you want to track those on your reports when we set up accuapproval. And any other questions? Alright. Well, if any, questions do come up after today's webinar, feel free to contact us here at Alligent. We also offer one on one demos, hands on trial sites, and we can always set up a call to discuss your needs. Thank you everyone who joined and have a great day.