Several banks during post covid demonstrations of our system have been very concerned about conversion time to LQAS.
Earlier this year we conducted a demonstration to Cecil Bank. Tamara Fender, Loan Operations Manager contacted us to perform a demo to the team. Tamara is very familiar with our system. She was with another bank that used LQAS in the past. The entire group was impressed with the system and committed to us a couple of months later. They wanted to be productive as soon as possible.
The LQAS system for the bank was ready for install two days after the bank committed to us. It was installed thirty days later after the bank’s IT group created the server and installed any software needed. A month later they were live with all converted data.
Their person that creates core reports was very responsive and knowledgeable. They quickly wrote extracts for credit and collateral documents, borrowing relationships, loan grades, customer and loan files.
They are currently furnishing all needed reports to management in seconds instead of taking days or weeks to collate the information and scanning documents directly into LQAS for image retrieval and disaster recovery.
We give them an A+ on responsiveness and teamwork to get going quickly.
Board report preparation in less than half the time.
Exam preparation in two hours instead of six weeks at a larger client.
Loan review sampling, Line Sheets, grading and writeups in minutes.
Improved CAMELS rating by two in two banks in eighteen months.
Protected all client’s portfolios during the great recession by identifying problems in the portfolio in seconds.
This results in unheard of time savings in loan portfolio management that banks wish for during time crunched reporting periods.
If you want additional details go to LQAS.com/contact-us/
We will schedule a meeting to discuss how we perform our time saving magic.