I mentioned that most cores automate 70% of the bank’s reporting duties. The remaining 30% is usually completed by various word, excel, and access databases installed throughout the bank’s departments. This is how LQAS Enhances your core capabilities and efficiency.
Our system when added to the bank’s core capabilities pushes that percentage covered to near 100% in most client banks.
We begin by downloading all fields of information needed from the core to LQAS in a nightly download. The standard version of LQAS accommodates most of the fields of data each individual core contains. We also have custom fields in all areas of the system. For example if you want LQAS to create a CRA report. The geocode can be pulled from the core and inserted into a custom field on our customer screen. The report includes concentrations by geocode by amount and percent. LQAS already has a complete picture of direct, indirect, and contingent liabilities of every borrower.
We will gladly add additional custom fields to any area if the bank uses all existing fields.
Custom reports are created and added to our standard report menus. The end user has no idea if the report is custom or standard. One of our clients internally created over 70 custom reports to increase efficiency throughout their area. Here are a few favorites at a nearby Community Bank:
One of our newer customers is going to all departments and asking what reports are being created manually or being cobbled together from several sources each day, week or month. The needed fields are added to LQAS. A custom report is created and for each instance. Jobs that took several hours to several days now is performed in minutes.
This client visited First Lockhart Bank to see LQAS in action and was impressed with the areas of the bank that were automated. Several clients have automated the following areas:
Monthly Activity – This report was taking several hours to import the data into excel and then go through each loan on the core to see which criteria it fit for the following categories of New, Renewed or Refinance. By using LQAS the report prints in less than 5 minutes.
Officer Exception Percentages by document types – This report breaks exceptions into groups so upper management can see at a glance where the officer excels or needs improvements in clearing exceptions on his portfolio. By using LQAS the bank saved 1 whole day of man power.
Officer Past Due Report – This report is in the bank’s monthly board package and is run the morning of the first day of the month. Prior to implementing LQAS the bank worked on this report for at least 4 hours. This report will run in seconds.
Officer Watch List Report – This report is also part of the bank’s monthly board package and is also run the morning of the first day of the month, which used to consume at least 4 or 5 man hours. This report will run in seconds.
Property Tax Report – This report is run through the year and is used to look up at the county level who has paid and who is delinquent in paying the property taxes on the bank’s collateral. This report is grouped by the counties and runs in seconds. Prior to implementing LQAS this data could not be grouped by the counties and was labor intensive and took multiple days to complete. This eliminates the cost of an outside vendor gathering the information for the bank.
Large Relationship Report – This report simplifies the daunting task of reporting across relationships with totals. Manually this would consume hours and is now replaced with a report that runs in seconds.
Flood Report – This report easily shows which loans require flood insurance and the status of that insurance. This report will run in seconds and can replace the need for excel spreadsheets that can become labor intensive to maintain.
Annual Reviews – This report gives the officers a speedy look at which customers need their annual review for the month or quarter within seconds instead of keeping it tracked on a calendar or an excel spreadsheet that can be laborious.
TOTAL TIME SAVINGS – LQAS Enhances your core capabilities and efficiency.
| REPORT | TIME REQUIRED BEFORE LQAS | LQAS |
|---|---|---|
| Monthly Activity | 4-6 Hours | 3-5 minutes |
| Officer Exception Percentages by document types | 8 hours | 3-5 minutes |
| Officer Past Dues | 4-6 Hours | 45 seconds |
| Officer Watch List | 4-5 Hours | 30 seconds |
| Property Tax Report | 2-3 days | 30 seconds |
| Large Relationship Report | 3-6 Hours | 30 seconds |
| Flood Report | 1-2 days including a third party company assisting the bank | 30 seconds |
| Annual Reviews | 2-3 weeks | 1 hour |
| TOTAL TIME REQUIRED | 3-4 Weeks | 3 hours* |
*Indicates half the time was printing and collating reports when printed. They are created as PDF files and emailed at some banks.
Immediate Contact Chris Crawford President [email protected] 512-986-6093