February 16, 2009
Bank of the West has selected Custom Credit Systems' (CCS, Richardson, Texas) commercial lending automation software to support its loan servicing needs in its syndications business. The CCS module will allow San Francisco-based Bank of the West ($67 billion in assets) to increase loan-processing volumes without additional staff as well as reduce the time needed to train new staff, according to the vendor. These benefits, notes CCS, are the result of the module's ability to support an integrated credit-processing platform that consolidates functions formerly performed with separate tools.
The lending automation platform performs accounting functions on a commercial bank's obligation hierarchy, and can mirror the hierarchy of each member's pro-rata share through propagation of booking. The module also can facilitate the communication of credit status throughout the processing lifecycle. Some of the functionality of the module includes the booking of AFS financial transactions; maintaining member contact information and other information related to the members; repricing processing and booking of AFS transactions; documenting financial transactions and provisions of a tickler system to organize and plan future tasks.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & ...
