Reduce liability for losses on commercial accounts by adhering to four requirements.
AccuSystems AccuAccount Xpress
AccuAccount Xpress combines document imaging and document management into a comprehensive loan portfolio management system. The software streamlines a bank’s loan workflow by providing document tracking, exception management, and reporting within a single platform. We’ve built Xpress to be similar to our AccuAccount Pro platform, which is used by more than 1,500 lenders to manage over $27 billion in assets. The difference between the two platforms comes down to differences in features and the availability of cloud-based hosting for Xpress.
Specific Reasons Why Xpress Deserves an Innovative Solutions Award:
1. Was Truly Designed for Community Banks — AccuAccount Xpress is a perfect fit for banks less than $300 million in asset size, although it would work well for any financial institution with less complicated loan portfolios, limited geographic footprints, and fewer branches. Xpress requires fewer resources to implement and manage than more robust systems but still allows a bank to take advantage of many automated workflows within the platform.
2. Cloud Hosting is Available — Not all financial institutions have a robust IT staff or have their software applications (including host and core) hosted in-house. Xpress’ flexible hosting options would be a great fit for banks like these.
3. Affordable Monthly Subscription — Xpress is priced with a simple “subscription” model, giving users a precise cost of the application.
4. Reduces Operating Costs — The potential savings for a bank consists of reductions in administrative and lender labor, the ability to reuse filing cabinet space, the elimination of travel for loan review, and the elimination of file folders. As one might guess, internal bank labor for both administrators and lenders comprises a substantial amount of savings.