iPad Loan Assistant is the Next Essential Tool for Lenders
COVID-19 Supporting Remote Lenders using LQAS Loan Assistant enables them to quickly navigate the entire portfolio at any location on a LTE iPad. It allows lenders secure access to critical loan and customer data while visiting the customer. Since lenders can also be quarantined essential information is not available or will take excess time accessing. The LQAS Loan Assistant running as an iPad app quickly (1-2 seconds) retrieves document status. It also quickly retrieve images, and exceptions on any borrowing relationship in the bank. A single click emails exceptions to the borrower while filtering out any internal exceptions that the borrower does not need to view.
The Loan Assistant and the system is featured in a CIOReview article.
Supporting Remote Lenders
COVID-19 Supporting Remote Lenders using LQAS Loan Assistant helps the bank improve their CAMELS rating. The most efficient method to communicate with the borrower and correct exceptions is to require correction of exceptions when they need something from the bank. Two clients improved their CAMELS rating by two in eighteen months. Minimizing exceptions is the best method to minimize loan classifications. According to the OCC over seventy percent of bank failures are tied to inadequate, missing or expired documentation.
Future Articles
We will cover other advantages of LQAS in future articles. Many of you are clients. Our customers range in size from seventy million to over five hundred billion in assets. Over half of our customers were four star or above at the height of the great recession. We help bulletproof loan portfolios as much as possible during stressful economic times. Our company’s CEO is a former examiner and commercial lender. With the help of a tremendous client base they have built a platform that can return answers to almost any lending question in seconds.
Special Offer and Quick Demonstration
Client banks on LQAS with the imaging option receive 2 app licenses free and we can postpone payment for additional licenses until 1-15-21. Demonstration of this app is conducted over the internet in 5-15 minutes depending on questions. Email Ethan Crawford ecrawford@lqas.com or call 512-940-6004 to setup a time for the demonstration.
Our next article will discuss enabling the bank to prepare for an exam in less than ten minutes instead of days or weeks.