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| 2008 INNOVATIVE SOLUTIONS AWARD WINNER |
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Data Center Inc. iCore 12.0
In May 2008, Hutchinson, Kan.-based DCI released iCore 12.0, the newest update to their integrated core banking solution iCore 12.0 contained two new innovative features that enable community banks to help address the needs of a changing economy and banking environment, to focus on enhancing the relationships and profitability of their customers and managing complex lending scenarios for greater efficiency and income.
The profitability enhancement in iCore 12.0 enables banks to drill down on a customers’ detailed impact on the bank’s bottom line, using values such as loan fees, processing cost and others in the profitability calculations. Banks can get a macro or micro view of customer profitability across their entire relationship with the bank – personal and business – by branch, officer, account type, and more. This detailed access instantly provides bank officers with the information needed to selectively focus energies on products and customer needs that bring profit to the bank.
A second enhancement, Guidance Lines, enables banks to better manage and maximize complex, multi-loan credit line situations – a timely enhancement in today’s credit environment. Using the iCore guidance line features, a bank can instantly determine a customer’s capital commitment on a loan, how much of the loan line has been used and how much is still available.
For example, on a $multi-million guidance line containing several active loans of varying amounts each, the guidance line feature instantly shows the bank the status and detail of each of the active loan lines, as well as the total amount available for future loans. iCore not only tracks the loan amounts and availability, but also projects future loan volume and enables customers to review transactions under the line.
iCore’s guidance line enhancement empowers the bank to further consolidate loan approval information and processes, and track multiple sources and details of various loans. This dramatically reduces the time and costs spent on loan processing, while improving customer service. By automatically tracking pre-approved loan limits for each loan and the entire line, the bank can make advances without requiring further approval. Customers benefit from better understanding the bank’s loan rates, fee schedule and timeframe of loan to value. iCore also helps the bank better cater to the needs of the commercial community with more flexible financing options and reduced errors. The return on investment includes less paperwork, a workload reduction for loan officers and committees, and a better documentation process.