In a small percentage of demonstrations the question arises of how does the data enter the system? Converting existing systems into LQAS is usually quicker and easier than a prospective client could imagine.
An earlier article described major reporting and exam prep functions being reduced to hours instead of days and weeks. This is completely dependent on data being in LQAS.
CORE DATA
Most information needed is already on the core. Our client base already created queries to load information into LQAS across all major core systems in the US. Our customers are willing to share those report queries that create the data files that will then be used to import data into LQAS. The data that is most popular to import into LQAS is the customer/cif information, Relationship information, Loan information including risk rating and collateral descriptions. When talking about the collateral information, collateral values are always a necessity to bring into LQAS.
LOAN GRADES
Usually on the core, LQAS can actually grade and writeup all loans in the bank. If the data is in the system LQAS can make a decision you are already done.
DOCUMENT IMAGES
Images can be exported from your current system along with indexing information to connect the image to the proper credit or collateral document. Also, images can be imported nightly from your digitally signed loan origination program. The processors don’t have to print and then scan into LQAS or email and import them into LQAS.
COLLATERAL DESCRIPTION and VALUES
Hopefully maintained in the bank now. A value from an inspection or appraisal can be input into the system or converted. Commodity or stock prices can be updated across the entire portfolio in seconds once LQAS is setup.
DOCUMENTATION DATA
Usually also on the core. If the bank already has a standalone document tracking system that information can be exported in to LQAS then maintained there. Credit and Collateral documents are stored in LQAS.
A recent new client was on a deadline from the examiners to have a system in place for tracking ticklers, exceptions and imaging. They reached out to us with 2 months left on their deadline. LQAS was up and running in their bank in 3 weeks time and they made the deadline and had all the loans the slated for the exam ready and converted into LQAS.
Our team is here to conduct the conversion. We have performed conversions hundreds of times. It is highly likely we have converted your core, document data and images from your system at another bank.
Immediate Contact Chris Crawford President [email protected] 512-986-6093