We are starting a new column from our support area. They are in constant contact with our clients to work as a team to improve the bank’s efficiency beyond what they are expecting from us and LQAS.
Lockhart:
The first bank we will discuss is First-Lockhart National Bank in Lockhart, TX. It is almost a 400 million dollar bank and has been in the network around ten years. They are pushing the envelope on how many areas they can automate with our system. We will mention them again as custom features are added. Denise Wood, Vice President, is the loan administration manager. We created dozens of custom reports for them to streamline all areas LQAS monitors. Here is her story:
LQAS is a time and personnel saver:
Since LQAS already had most of the data needed to prepare the monthly board reports we requested a download change to add any fields needed. It was easy to use our bank’s format and have the reports written to pull from LQAS, so that instead of spending a week, sometimes two working up the board reports, we now can have them created and printed on the first day of the month. This frees up key personnel in the loan departments to work on customer service.
LQAS and property tax monitoring:
After waiting for several months for the results of who has paid their property taxes and who has not. We realized that LQAS gives our loan department a list by taxing authorities so that we can pull the receipts and image them into our loans. This saves our customers the money that the property tax service was charging them to NOT let us know who has paid in a timely manner.
Gold Star for the bank
A good portion of the banks we meet do not monitor evidence of paid taxes. This is a red flag that is fairly easy to correct. This is a major leading indicator to a default that can be averted if caught early.
LQAS Client Base
All clients are encouraged to look at functions in the lending and deposit areas to find time consuming jobs. We visit with the bank on techniques we can use to reduce the time and effort needed in each area.
Jobs are reduced from hours or days to minutes or seconds using LQAS. Any core data needed is downloaded into LQAS as well as spreadsheets or homegrown databases in the bank to create one source of information.