Exception Management in AccuAccount

Technology has changed significantly since the mid-90s, yet many financial institutions still rely on a paper-based loan management system that creates hours of unnecessary administrative tasks. This drains resources from client relationship management and other important tasks and causes plenty of frustration for employees.

In a world where you can find directions to a nearby coffee shop by simply asking your phone, it’s hard to believe that so many institutions still rely on paper files and manual ticklers. But fortunately, there is a solution.

Let’s explore how to manage bank exceptions electronically with AccuAccount.

Why Electronic Exception Management?

Electronic exception management propels financial institutions into today’s technology with ease, streamlining processes and creating efficiency in a single bound. Okay, so it’s not quite Superman, but it’s pretty close.

Moving from a paper-based tracking system to an electronic exception management system such as AccuAccount is beneficial for financial institutions in several ways. Documents become instantly available with no time lag after capture, meaning that no one has to wait on Bob to get around to scanning yesterday’s documents before getting started. The odds of losing a document or misfiling it decrease drastically because one-touch capture means less individuals have to work with the physical document.

exceptions tab accuaccount

In AccuAccount’s electronic exception management system, the exception tab displays a description, document status, and comments for each individual account. An indicator will be visible if a notice letter is tied to the exception. Any authorized user may access this account information as needed, removing workplace silos and opening the flow of information for increased productivity.

Multiple capture methods such as barcodes, optical character recognition (OCR) software, and third-party integrations mean manual indexing is a thing of the past. And because documents are instantly available to everyone who needs access to them, efficiency increases significantly when financial institutions move from paper-based to electronic exception management.

What Exceptions Can be Managed in AccuAccount?

AccuAccount has the ability to track several types of exceptions, including:

  • Missing Exceptions: This exception will be satisfied once the missing document is scanned and uploaded into the appropriate document tab.
  • Expired Exceptions: This exception tracks for expired documents based upon the expiration dates set on the appropriate document tab.
  • Task Exceptions: A task exception is used for a task that needs to be completed on a particular account, such as a needed customer signature.
  • Policy Exceptions: Track items that are outside of bank policy to ensure bank compliance.

missing document search results

AccuAccount Simplifies Exception Management

AccuAccount is a comprehensive account management software that includes imaging, tracking, and management within the same system. The intuitive interface is designed to automatically set up the correct loan type, document functions, exceptions, and users for accounts, and also generates letters for customers as needed.

The ability to automatically set up exceptions for loans and accounts streamlines workflows and increases efficiency. If a document is missing or expired, employees who interact with the account the document is associated with are notified to take action to correct the exception.

Custom exceptions can be created when documents have been received but have missing information such as additional signatures. AccuAccount allows financial institutions to set up new documents with monthly, bi-monthly, semi-annual, and annual exceptions through the document scheduling feature.

Learn how your financial institution can benefit from AccuAccount by clicking here for a risk-free needs assessment.

Chat With an Exception Expert

Connect with Jennifer Mitchell

Jenn Mitchell is AccuSystems' Sales Manager, overseeing sales and marketing operations. Jenn previously worked as a Loan Originator for several community and regional banks. Connect with Jenn >>