The Banking Buzz: Breaking the Bottlenecks, How AccuApproval Facilitates Smarter Lending

Hello. Good afternoon, and thank you all for joining us. My name is Cara Talcott. I am the marketing communications coordinator here at Allergen. In this session, we're gonna explore how AccuApproval, Alligent's loan approval solution built for AccuAccount, can help simplify commercial lending. To help walk us through AccuApproval and the value and explain the value it brings, I will turn it over to our speaker for today's webinar, Jen Mitchell, our director of product management for AccuCount. If any questions come up during the webinar, feel free to type them into the chat box. We'll have a designated q and a segment at the end to answer any of those. And with that, I'll hand hand things over to Jen to kick things off. Great. Thank you, Kara. Good afternoon, everybody, and thank you for attending our webinar today. I'm Jen Mitchell, as she mentioned, and we're gonna go through a little agenda here of what we're going to review. So first, we're gonna look at who is Alligent, what do we do, what is Accu account, what is Accu approval, and then the benefits of Accu approval. So and then we're even gonna go into a live demo, so we'll be able to review that as well. Okay. So first of all, Alligent solution. Let's just talk a little bit about what Alligent is. We're an end to end solution. Alligent is a fintech company. We offer a solution for financial offer solutions for financial institutions. We have years of experience in the industry, which allows us to off, offer subject matter experts to implement our products and make our financial institutions successful in their day to day work. Alligent continues to innovate and build new product offerings as we collaborate with prospects as well as our current customers about their needs and market trends. So just a a little bit about the ecosystem here. We automate the ecosystem. The areas where Alligent excels include payment and deposit solutions, digital banking, and ECM along with specialized products for loan management, which is AccuAccount. These products make up the entire ecosystem, ecosystem of any type of financial institution. Alright. So let's talk about AccuAccount and really dig into AccuApproval here. First of all, just looking at what what is AccuAccount. AccuAccount was built to, manage commercial loans. We physically went and worked with a bank here in, a a local bank here in Colorado, And that bank needed some direction and some help with their commercial lending department. So what we did is is we worked with them to determine this imaging system, and this imaging system needed to integrate into their core. So Appu account integrates with any core and receives a data feed, to update information, updates new information, adds new information, updates balances, those types of things within the system. And then we really kicked it off when we added some of the additional features, one being the ability to manage the life of the loan from the application to payoff. This is where we talk about, from the application. You can do the routing. We have the ability to put all types of imaging into the system, exception tracking, reporting, and then all the way to the notice generation. If you're not familiar with Acu account, we have several ways to get images into the system. So today, we still have, financial institutions that have paper files. So those paper files can be input, through desktop or multifunction device scanners. We do offer, a way to read barcodes. So we have several different barcodes that we can read today to know exactly where things need to go within the system. You can also receive documents via email, and we have an easy way to, what we call virtually print those into Accu account. We do import documents from portals. There's a drag and drop feature within our product. We have an esign, the or we don't have an esign. I apologize. We have a way to import documents from esign products. So any of those third party esign that you're currently having your customers sign documents in, those can actually just be automatically, input into the system. And then loan origination systems. Any loan origination that you're using today, we can actually input those documents and data from those documents and data from those so that we can keep our product up to date. Alright. So some of the other topics that that we talk about within our product is integrated exception tracking. And we have what we call, exception management or integrated exception management. And couple different things that we do, we do manage missing exceptions. So missing exceptions are actually built, during the implementation, and they tie back to documents. So as we gather documents and put them into our system, it will automatically clear those missing exceptions for you. Expiring exceptions are managed within the product. Those are truly built based off of expiration dates. So when you're looking at tickler systems, current tickler systems, you know, they have an expiration date on everything saying this is when you need this this document by. We truly are looking for expiration dates within our product. So we're looking for those UCC expiration dates, those, insurance expiration dates. You set those on a true date, and then we have a way to set up lead times where you can get reporting thirty days before or in a UCC, case, sixty sorry, a hundred and eighty days before, and you'll receive notification that you need those those updated documents. We do what we call task exceptions. That's a preformed way to input an exception. You know, it could be an annual review that you need globally across the board on all your commercial real estate loans, or it can be a, you know, we need to reach out to Bill because, we are missing a signature on a certain document. So those task exceptions are free form. You can assign those to a group of people, an individual, very easy to use. All of our reporting is automated. So any of the reports that you need to send downstream to any of the lenders or management can all be scheduled and sent out. And then we have our notices, our notice distribution system. So, again, this this whole idea is is making sure that you have a complete file, for audit and for compliance reasons. And so, you know, you're you're at that point where you need to go ahead and reach out to to your customers. You can go ahead and do that reach out right from the product, requesting, not only, via paper notice, but you can also do it via email requesting certain documents. Talk about the benefits of AccuAccount. These again are are really just focusing on why AccuAccount is, so important to financial institutions. Number one, it can streamline the commercial loan imaging and exception management. You're not having to image, with one team and manage exceptions with another team at the financial institution. It's all in one place. It allows the ability for any department and anybody to review images. Now we do have security that can be set up on specific documents where you can say only certain people can see these, but what's nice is that you literally are using one place for all the images. And so those can be reviewed for, for your annual review. Those can be reviewed for the if you're gonna utilize the accu approval, so credit needs to review documents, underwriting needs to review documents, whatever that is. It allows for that, imaging in one place. It also has a built in quality control process, which can turn off and on exceptions, and it can also set to, required status, rejected status, approved, all of those, those types of quality control. We do the document schedules, and what that means is that you can actually schedule certain documents. We see this used a lot on the financial side, but you have the ability to schedule out those those documents, and it will automatically build that new document tab and know to request those new updated those required new documents from the borrower or on the loan side. It also manages all the missing docs by a specific credit type, loan, and collateral, that are all built during the implementation. We do track and report on policy exceptions within a few account, and then obviously, we just talked about the notice distribution, how important that is. It's just as nice that it ties that whole exception, that whole imaging and exception all together in one place. So you're not having to use three or four or five different systems. Just a little bit on the implementation, you know, because it seems like it might be a complex system. I just wanna throw out there that, this is just a little layout of our implementation for Accu account. It's usually ten to sixteen weeks to get, the system completely, going for you. That does not include, like, conversions and those types of things. But ten to sixteen weeks to get it up and going, and you'll be up and and imaging within within the new product, with your structure, with your customization that you need in the system. Okay. Let's talk about Allergan's Accu approval. So, first of all, the commercial loan application routing, it's this is not meant to be an LOS. It is meant to allow for a paperless application, routing. That's really what it is. So you can start the application from when the within the system. You can push it out to the different departments for approval. All of the, all of the workflows are actually customizable, so they can fit to your existing paper process. It easily converts the application to a book loan. So once the book loan comes over from the core, you have the ability to, actually convert the application to the book loan and then all the application history and documents are moved with that. So then it's it's retained for the the life of the loan. So what are some of the benefits of active approval? That's really what we're gonna look at today. And, again, we'll go into just a high level, live demo. But some of the things that we talk about, early capture. What's what's important about early cap capture? It allows you to start that application process completely paperless. You know, we know today there's still banks that and credit unions that are still gathering documents, and they still have paper files that they're passing from desk to desk. Accu approval allows for you to stop that process. You don't have to actually push that paper file anymore. It puts all the images, including the application, in one place for review. Employees are not having to guess where the file is any longer. You know, this is always a problem. You know, are am I going to receive this information in paper, or is this somewhere on a shared drive? It's putting it into one place. It's one system of record for you. It's also nice because you can start tracking, for the required documentation immediately. So those credit documents that maybe your your borrower didn't bring in, you'll have the ability to start tracking for that information immediately. And that way, you can go ahead and start reaching out to them to to get that information day one. Next is the flexibility to fit your f, your financial institution's lending process. So what's big about this? First of all, we have customized workflows. Huge. We have some who have very simple workflows, and we have some who have very complex workflows. We always try to as the subject matter expert, we always try to help you get started by saying, let's start with, building out a simple loan workflow, and then you can add to that workflow. We do share templates with you that you can review and and go through and and determine what would fit best for you. But just know those are all customized. You can take your paper process, write it into, you know, into a document and just build that out within the within the Acu account. We allow for you to set approval limits by user and loan type. So, again, we know not everybody can approve every loan type up to a certain dollar amount, so we built the ability within the product to to allow you to determine by user what their approval limit is. We do have, the ability to route the information around. So, again, in the system, you can route to credit to credit analyst, analysis team. They can do their piece. They can kick it back over to the lender, over to underwriting, doc prep, so on and so forth. So the department approvals are are built within those customized workflows. And then we offer dashboards. And those dashboards are actually customized to the user's role within the system. So a great example is if I was a lender, I might wanna see everything that was queued up for my final approval or where my loans are in the approval process. I could see that directly on the dashboard. You know, if I'm a credit, analyst, I want to see what I have queued up and waiting for approval. I can I can just pull up my dashboard and see that information easily? So reduces complexity in the application process. We've we've we're gonna hear this a lot. It's really one system of record. So the one system of record for all the imaging, exception checking everything is in one place. This is to excuse me. The system easily allows you to convert an application to a loan. It keeps that application history and approval along with the moving of the documents. So it does all of that. You know, typically, when you have this paper file, you're having to determine which or paper and electronic. You're having to determine where things are at. This reduces that, as well along with that really easy, click of this application belongs to this loan. Financial institutions can easily renew a loan with an accu account. It allows you to start that application all over, and it keeps the credit information and existing documents intact for you. And then with the data collection of the application, you can actually build custom reports for that loan for loans with adverse actions and share that reporting as needed as well. Visibility into the lender's pipeline is very very important. It's very important for management as well as lenders. So lenders can utilize the dashboards to see where loan applications are at and where they're at in the up the approval process. You can generate reports by status, probability, amount, lender, whatever you would like to see. And then management can even get information on timers, how long things have been in the different, you know, in the different departments for the approval process. Then it also can, can give the ability to customize those pipeline reports for board reporting purposes. So management can take that information to the board, building them out by loan type or or loan amount. Then we have the enhanced customer and member experience. Accu account is a person centric system, so it has a true master customer member file for each relationship. So what this means is is as a as a commercial borrower, you're going to have your own set of credit requirements versus each of the borrowers that are on this particular loan. So each of the the borrowers within the system all have their own credit file set. And you'll see that here in a little bit. We do that core import. That's important. That core import keeps our system up to date with the core. It also kicks off, certain things, certain tasks within the system. It also will kick off if you needs to if it needs to have exceptions turned on or off based off of a status or even a threshold can actually drive that information. So as balances go down, know, you might not require certain things. So that is what that core data import is so important to us. And then we manage the relationships. And when we talk about managing the relationships within our product product, you'll see related entities, all the borrowers, multiple collaterals, cross collateralization of loans. So a lot of different relationship types can be built out within the system. And then we have the streamlined, ability to relend to existing borrowers. When an existing customer comes in with a new loan application oh, sorry. With a new loan application request, it's easy to start a new loan app right from that customer page. You can gather that application, that paper application. You put that application information into Accu account, and it'll kick off that new application electronically. You can reuse that credit that you've already gathered and housed. It's already housed in Accu. And then you have the ability to review current collateral also that is being used by the loan, by other loans from this existing customer. So that's kinda nice. You don't you know, you can just cross collateralize those collaterals right there on the page. And then we have the intuitive setup and self guided templates and videos. Again, we try to make this really easy for our financial institutions to set up. So when we talk about easy setup, we built it so you can maintain it. It has a quick rollout. We share our templates with you. We start you in the video library that gives you the step by step instructions on how to get accuapproval set up. And then you have full administrative, rights going forward. It is you can manage the system. You can build out and change anything you want, throughout the whole, life of the the applications. Alright. We're gonna go ahead and we're gonna go back over to a live demo here, and I'm just going to show a customer page. So those of you who are not familiar with the Accu account, this is what we call a customer or member page within Accu account, just to give you a little high level overview. This is information is brought over from the core. This is the customer or member information here along with those required master credit file documents over here. So every one of these documents are gonna tie back to JVC Interiors. And with the additional borrowers, they would each have their own page. So if I look at my guarantors here, we talked about this a little bit, throughout some of the slides, but Jessica Brown is the guarantor. I would click on Jessica's name and it takes me over to her customer page and gives me her required documents. So, again, that's that master person centric idea, that master file. I'm gonna go back over to our primary JCB here real fast. Alright. So back on that main customer page here, when we look at this credit information over here on the left hand side, we talked a little bit about some of that scheduling of documents. You'll see here I've scheduled this document. I need a new document as of July of twenty twenty five. So it went ahead and put a document out here, ahead of time letting me know that I'm gonna need this. So I set this up. So on July first or I'm sorry. On June first, it kicked it off so I would be reminded that in July, I need a new financial statement. I also have a tax return that I scheduled as well. So it actually built this out automatically for me at the beginning of the year, letting me know that I need a twenty twenty four tax return for this particular relationship. Within the system, the credit is over here. The loans are stacked out like a paper file. So here I'm on an application, but this is where all of the loan information would be over here on this side. So let's look at this application a little bit. We've taken all of the information from the actual paper file application. We've input it into here so that we can see exactly what they're trying to do. So this particular borrower is getting, looking for a new revolving line of credit. I have some branch information, application date, primary collateral values, all that information to get input during that application process. I kick off one of my workflows and it automatically does the assignment of the credit analyst. It's it finds out the application status, the analysis status, the approval status, so on and so forth. So as it goes through this approval process, our statuses will update along with possibly some of our, approvers here may update as well. Now I did talk about additional collaterals. So here we have the loan that is important, but we also have the collaterals that you can tie in here. So this this particular loan is being held by this commercial real estate piece of property, this building at one two three Main Street, Chicago, Illinois. These documents would be specific to this particular description here, which would then allow us to be able to lend against that piece of collateral and any others. So if they had three or four collaterals that they have tied back to this loan, you would see them all tied here. And they would just be numbered out one, two, three, or whatever the numbering comes in from your core import. Alright. I did want to just show, one report while we're here, so we've got about six minutes left. So I do wanna jump over to my reporting, And I want to pick up my application pipeline report here. This is what we call our dynamic reports. You have the ability to really customize these reports. So if I wanted to come in here and pick some specific fields right out of Acu account and build this report, I can absolutely do that. It also allows for me to do some filtering. So if I only wanted to see a specific status application status, I can do that. If I wanted to see certain officers, lenders, whatever it might be, I can set these filters out here, and then I can also group. So this particular loan is grouped by application status, so approval and process, And then the officer is Alex Haley, and then the approved for Aaron Pittman, so on and so forth. So this report would be a true application pipeline. You can do some filtering by loan amount if you wanted. You can sort by a certain field if you wanted. So you have the ability to really customize it and and look at this pipeline reporting however you would like. Right. I am going to jump back over to my slides here, and we are gonna go ahead and we are going to I'm gonna ask oh, sorry about that. I'm going to ask Cara to join us and she is going to kick off the questions. Thanks, Jen. Like we mentioned before, if you have any questions, feel free to drop them in the chat right now since, like Jen mentioned, we're gonna go ahead and move to our q and a segment. Looks like we do have a few already in chat. First one, can I build my own reports or does the product offer canned reports? Oh, good question. So we do have some canned application reports, pipeline reports. Or as I was just showing you in that dynamic reporting, you have the ability to customize and build your own reports. The reason we did that is because we had several different requests on how they wanted to see the data. So those dynamic reports allow you to do all that filtering and and review those those reports as you would like. Thank you. Let's see. Next one, do users have access to the application information, or is it hidden to certain users? So it actually you get to determine who gets to see the application information. This is a good question. You can actually set it all the way down to who can add an application, who can review the application, who can edit the application, add information to the application. So there is a lot of security, role based security that's built into the application process. You, and it looks like we have just one more that I can see in chat. Does the Accu approval module interface with other LOS? It does. We actually have this, because we have financial institutions that wanna use us as their system of record. So they'll use another LOS to do the true approval, but they'll push documents into Accu and we can also, update the statuses and where it's at in the process in the LOS. So we can keep ours up to date, not as complex of a workflow, but we can keep ours up to date, with where it is in the, in the origination system. That seems to be the last of them. Thank you everybody for joining us today. If you have any additional questions, or anything else might have popped up, please reach out to marketing at alligent dot com or visit us through the website. Make sure to check out our events page for all future webinars if you enjoyed this one. We appreciate your time with us this afternoon, and have a great day. Thank you, everybody.