AccuSystems, Inc. – Loan Participation Module (for AccuAccount)
Participation loans create value for your financial institution and the other banks involved in the process. However, many banks struggle with the administrative aspects of loan participations. Gathering, disseminating, and tracking downstream and upstream documentation requires a significant investment in man-hours. That is, unless you have the loan participation module for AccuAccount.
The participation module for AccuAccount allows your downstream banks to receive new and updated documents as they become available. This eliminates the process of manually forwarding them to all participants.
- Scanned files are uploaded to AccuAccount by the originating bank.
- Documents are flagged by the system for distribution.
- An email notification goes out to your downstream partners.
- Access is available via FTP, AccuAccount transfer, or email.
A process that formerly consumed countless man-hours can now be done instantly each time new documents are uploaded to AccuAccount!
In short, the loan participation module streamlines the management of downstream documentation for participation loans. When a customer sends in new loan or credit documents, the information is automatically emailed or transferred securely to downstream banks. Rather than making copies, putting the files into envelopes, and applying postage, everything happens automatically simply by uploading a document to AccuAccount.