The Banking Buzz: Planning for a Successful 2025: Lower Loan Management Costs with AccuAccount

Good afternoon, and thank you for joining our banking buzz presentation on planning for a successful twenty twenty five to lower loan management costs with AccuAccount. We're gonna go through a high level overview of features within AccuAccount that make financial institutions more efficient, and then we'll look at some tools that we offer to assist with budgeting in twenty twenty five. So before we begin, I just wanna introduce myself. I'm Jamie Biggs. I'm a product sales specialist for AccuAccount. I've been with the company and working with AccuAccount for about fifteen years. So if you have any questions during today's webinar, feel free to put those into the question section of the GoToWebinar panel. So for today's webinar, I'm planning for a successful twenty twenty five. We'll look at our budgeting resources, but I do wanna give you an overview of what AccuAccount is. It is a web based core integrated system for the life of the loan and stores and tracks documents, tasks, policy exceptions, and document exceptions. This, our software does allow you to have unlimited users working in the system to view and manage documents and exceptions, as well as pull on demand reports, or you can schedule out reports to be sent to you. We are the only, software that does imaging with integrated exception management where you are truly only managing your document images in order to track your exceptions. So a little bit more about how the system works, we do offer a loan approval workflow where you can build out your own custom workflows by loan type, and those images and the approval history feed into active account and are saved with the loan for the life of the loan. We integrate with your core system. So we have integrated with over thirty different core products to bring in customer and account data. We get a nightly data file, to to update customers, loans, collaterals, accounts, whatever you're willing to bring into the system. We will also update existing data. So if balances change, statuses change, addresses, anything like that, we will update that information nightly so that we stay in sync with your core system. We also can bring in data from esign or LOS systems. So, really, any third party that you wanna pull in data from or documents that are being produced, we would import those into the system as well so you don't ever have to touch those documents. We offer our imaging, so you can get images into the system in various ways, doing uploads, drag and drop scanning, batch scanning, barcode scanning, whatever you're wanting to do. We offer various different ways to get images into the system. And we are also doing, building a customer portal so you'll be able to get document information from the portal as well. We offer exception tracking. So, again, that's going to be based on the images that you're adding into the system. We'll track missing documents, expiring documents, task exceptions, policy exceptions, and then we also offer reports based on that information. So you can pull on demand reports. You can create subscriptions. You can have reports show on your dashboards. So there's a lot that you can get out of the system. Now I wanna go through just a few additional features that we offer. Just so you know that they are available, you can email documents from the system. We offer a participation module that pushes documents to downstream participating, financial institutions. We have an audit module, so you can build out an audit to send to your auditors or examiners without ever having to let them into your Accu account systems that builds out, like, a little mini Accu account. They view images the same way that you would from the software, but they only have access to what you build into that audit. We also have a built in quality control process for every view that gets done with your images. So anytime a document is modified in any way, even if it's viewed, it will keep track of all of that information. You can do an approval or rejection on anything, that is imaged into the software. And if something gets rejected, it will send out an email notification to the user who input that document. So you can track all of your document changes and make sure that everything is in your system correctly. We do flex fields. So if there's any data that you want to import into the system that is not a standard field, we would build those as a flex field. You can also manually add data into those flex fields. You can search on the flex fields and you can build reports around that information. We do related entities. So if there are customers that are associated with one another, those can be tied together on a related entity report to watch legal lending limits. We handle cross collaterals. So if you have a collateral that's pledged to multiple loans, you're only having to add the documents to the collateral one time, add comments. Anything that you're doing for tracking on that collateral is done one time, and all of that information is going to show under any of the loans that that collateral is pledged to. And then we have a purge option, that allows you to set up your own document retention rules to purge data out of the system on whatever schedule you would like. So now that you have a high level overview of what ActiveAccount does, I wanted to go through a couple of the budgeting tools that we have available. These tools are on our website. So you can download these. You can also reach out to us, and we'll send you these tools if you would like, like to have that in your hands to work with. So I'm gonna go ahead and minimize the presentation and show you these tools that we can work with. Bear with me for just a moment. My screen froze up. Let's try this a different way. Alright. I'm gonna go ahead and share our exception tracking cost calculator. So this is one of the tools that you have available to download from our website to help calculate the cost, for all of the tracking that you're doing inside of your financial institution. So what we did to build this tool is we assumed that we have employees with a sixty thousand dollar salary calculated on twenty two business days per month. So we're just taking an average there. You can kinda see what that hourly rate breaks down to be. And these are all of the tasks that we would typically see going on on a daily basis within a financial institution to track your documents that you are needing for your loans, especially on commercial loans. So a few of these items here, reviewing reviewing file to determine exception items for our customers. So what is missing? What is expired? What are we needing to collect from these, customers? And you can go through and input the number of hours that are spent daily for all of your employees combined. So we'll say there's three employees that are working on these. They're each spending an hour a day working on the exceptions that are tracking for ongoing documents. There's a few others obviously on here that you can add time for, reviewing documents that are paper reviewing documents that are coming in electronically, filing those away either in your file folders, if it's a paper file or if you're saving it to a network drive or putting that into your system to track, tracking policy exceptions, creating exception reports, notice letters. So all of this can be updated. You can go through this tool and determine how much time you are spending daily on each of these tasks. So as you update this, you'll see that the numbers change. So if we say that reviewing paper documents, we really only spend a half hour on that a day. You can update that information and all the calculations will update for you. We also have some tasks on this spreadsheet that are done monthly, so auditing spreadsheets for accuracy, creating and distributing monthly management exception reports, creating exception ratio reports for board meetings. So again, you can go through and say how much time are you taking to do these monthly tasks and input the number of hours here. So once you input those hours, it's gonna do all the calculations for you. So you can see the total hours for daily and monthly tasks. That's your monthly cost for doing these tasks if these numbers are correct here, how many hours are spent annually, and then the total dollar amount that you would be spending doing manual exception tracking at your financial institution. So I'm gonna just, in my head, round that to a hundred and fifty seven thousand dollars that you would be, paying out to your employees for doing these tasks. Now we have a second, tool that you can use for your budgeting as well, and this is going to be the paper file management cost. So same concept here, but this is looking at how much money are you spending managing paper files. And before I get into some of these examples here, you will see down here that we have the exception tracking and reporting cost, which we can take from the previous tool that we were just using for the exception tracking cost. So I'm gonna go ahead and put a hundred and fifty seven thousand dollars. That's how much we're spending annually to track exceptions manually for the financial institution. So then we're gonna go ahead and look at how much time is spent managing your paper files. How much time do you spend daily printing off checklists, placing tabs in a paper file, reviewing documents, making copies of documents? So we have several different tasks that would typically be completed for your financial institution. So the same concept here. We go through all of these tasks to be completed and input the time for what you're spending, and these numbers will update again as you input that data. So you can change the number of hours. You can use, you know, half hour, quarter of hour, however much time you're spending daily. So right there, we're looking at five hundred and seventeen hours monthly spent on those tasks in this example. Then we have some other costs that are associated with paper files. So we're actually looking at an annual cost for this example here. So how much are you spending on courier services? How much are you paying on off-site document storage, shredding services? There's our exception cost that we got from the other calculator. How much do you spend on paper and ink, any printing services that you're using, and then audit prep. Because if you are paying for travel for your audits, obviously, that cost is going to come into play as well. Whereas if you're using Accu account, you don't have to have your auditors on-site. You can send out the documentation through our audit export. So we can see what that total other cost is and then we have the annual cost. So this is looking at the cost for your manual exception tracking and your paper file document managed for your financial institution if you're doing this all manually. So that is a huge number being spent paying employees to do all of this work manually. So I'm going to go ahead and get back into our slides here. Okay, so I wanted to talk a little bit about the savings that you have with AccuAccount. So that number, of course, was exceeding three hundred thousand dollars for doing this work manually for the example that we looked at. Of course, you can use those tools, plug in your numbers, see exactly what your financial institution is spending on doing these tasks. But AccuAccount does offer significant ongoing savings. So you're not gonna have that sticker shock, and not only are you saving a large amount of money with AccuAccount, but you're gaining a lot of efficiencies for your financial institution. And we do base our pricing on asset size. So if you would like a price quote from us, you can reach out to us anytime, and we will get a price quote for your financial institution based on your asset size. There are no strings attached to getting that proposal. We can send that out to you, anytime you'd like. You just need to reach out to us. So some of the next steps for getting some additional information about Accu account, we do offer other Bankers Buzz webinars where you can learn more about how the system works. You can get a trial site at your financial institution, so you can go in and actually play around in your own site to see exactly how the system works. We offer one on one demos, so just reach out to us if you'd like to schedule your own demo one on one with us. And, of course, that price quote that we talked about, we can get that out to you at any time. So let's go ahead and see what questions we have have come in really quickly. The first one, can we get references specifically for financial institutions that have saved money using Accu account. Absolutely. We are happy to get references out from any of our financial institutions, so just let us know exactly what you're looking for. If you wanna talk to others that use the same core, if they're in the same asset size range as you or someone, and we'll get those references out to you. And then another question, is the price based on the number of user seats? It is not. We solely base the price on asset size, and then you have unlimited users that can work in the system. Alright. Perfect. Well, if you have any other questions that come up after today's webinar, feel free to reach out to us here at Allergan. Thank you to everyone who joined and have a great day.