What is Credit Track?
Credit Track is a web-based loan origination, workflow, approval, monitoring and reporting software suite that helps bankers manage their loan portfolio and mitigate commercial lending risks via straight-through processing. The origination process captures data points that are used throughout the loan life cycle, thus eliminating redundant keystrokes and improving data quality. The application also has the capability to incorporate the bank’s unique Word & Excel documents used in the credit process. Credit Track helps in the monitoring and tickler process via tracking covenant conditions and required financial submissions. The application has a dashboard to track metrics as well as performing various levels of operational and management reporting. Finally, the application is highly configurable and requires no programming knowledge to make workflow and operational changes.
To stay current on all portfolio management and workflow process needs, Credit Track offers a feature set that allows bankers to create tasks based on business flow and to manage the loan queue for the department. The application integrates these workflow metrics and helps manage various tasks and departments in tracking performance metrics. The module even allows for tracking documents sent to third-party companies such as outside counsel.
A challenge for any department or division of a bank is to manage staff metrics and workflow while maintaining credit quality and timely receipt of financial information. Credit Track offers a simple and intuitive interface to help track all tasks related to the credit origination, underwriting, approval and monitoring process. Managers are able to assign user defined weights to specific tasks and may perform regression analyses to determine performance and workforce efficiency within their organization.
Credit Track’s unique advantages & benefits are:
- Perform straight-through loan processing via a single application
- Improve efficiencies and productivity in loan production and management
- Improve accuracy in workflows and reporting
- Integrate with existing client systems and core banking systems
- Better management of loan policies based on portfolio characteristics and concentration reporting
- Improve accuracy and timeliness in risk recognition and assessment
- In-depth and quicker loan analysis at all levels
- Customized stress testing and segmentation of the loan portfolio for early warning indicators
- Ability to “data mine” the portfolio for credit risk and/or new source of loan growth
- Improved ability to anticipate portfolio run-off and implement loan retention programs
- Stronger problem loan management and criticized asset reporting
- Provide management reporting on an individual or portfolio-wide basis
- Faster turnaround time on all workflow functionality and changes
- Flexible licensing options of modules based on client need
- Technology platform that supports the Client’s growth initiatives
- Track and report on items at the relationship, borrower or loan level
- Integration with Electronic Credit File
- A personalized Dashboard “home page” to help you manage your portfolio
- Configure a management dashboard to suit your needs at any level
- Monitor and maintain performance metrics via custom dashboards
- Flexibility to track items per loan and then report them at the relationship level
- Track any type of covenant (financial ratios) and measure their performance
- Covenant compliance allows you to even track step-up and step-down covenants
- Generate reports to view your portfolio from multiple viewpoints
- One-click generation of follow-up letters & emails
- An Electronic Credit File that automatically updates ticklers when you upload docs
- Eliminate faxing credit file documents to remote offices by using our electronic credit file