Loan Participation Automation
Participation loans create value for your financial institution and the other banks and credit unions involved in the process. However, many institutions 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.
How Our Module Works
The participation module for AccuAccount allows your downstream banks and credit unions 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 or credit union.
- 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!
Benefits
Here are just a few reasons why your bank or credit union should give this module a try.
- Reduces participation admin by 95%
- Securely transfers information
- Automates the notification of participants
- Creates an audit trail of distributed images
- No wait time for downstream banks or credit unions
- Lower postage / courier costs
- Flexible delivery options (FTP, portal, etc.)
- Easy to set up
- Automatically keeps your staff in the loop