Streamlined Loan Document Collection
Collect, organize, and submit all required loan documents with ease. From tax returns and bank statements to identification and proof of income, ensure a smooth loan application process by providing lenders the information they need to make confident, timely decisions
Securing APIs Around the Globe
Loan document exceptions monitoring is the process of identifying and addressing any potential issues or problems with the loan documents before they become more serious. This typically involves regularly reviewing loan documents for any unusual or potentially problematic activity, such as missing or incomplete information.
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By identifying and addressing potential issues with loan documents early on, lenders can help prevent loans from becoming delinquent or defaulting. This can help protect the lender's investment and reduce the risk of losses.
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Loan document exceptions monitoring typically involves several key steps. First, the lender will identify the loans that need to be monitored, such as those with higher-than-average risk or those that have shown signs of potential issues. Next, the lender will collect and review the loan documents for these loans.
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Based on this information, the lender will then identify any potential issues or problems with the loan documents. These might include missing or incomplete information, inconsistencies in the documents, or any other unusual or potentially problematic activity.
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Once potential issues have been identified, the lender can take steps to address them. This might involve working with the borrower to provide the missing or incomplete information, or to correct any inconsistencies in the documents. In some cases, the lender may decide to take more drastic action, such as requiring the borrower to provide additional collateral or even defaulting on the loan.
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Overall, loan document exceptions monitoring is an important part of managing a loan portfolio and helping to prevent potential issues from becoming more serious. By regularly monitoring loan documents and taking action to address potential problems, lenders can help protect their investments and reduce the risk of losses.
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What is loan document collection?
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Loan document collection is the process of gathering all of the necessary documents and information required to complete a loan application. This typically includes financial documents, such as tax returns and bank statements, as well as personal information, such as identification and proof of income.
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The specific documents and information required for a loan will vary depending on the type of loan and the lender's requirements. For example, a mortgage loan will typically require more detailed financial information and documentation than a personal loan.
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The purpose of loan document collection is to provide the lender with the information they need to make an informed decision about the loan. By reviewing the borrower's financial and personal information, the lender can determine whether the borrower is a good credit risk and whether they are likely to be able to repay the loan.
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Loan document collection is typically the responsibility of the borrower. It is important for borrowers to carefully review the lender's requirements and to gather all of the necessary documents before submitting their loan application. This can help ensure that the loan application process goes smoothly and that the lender has all of the information they need to make a decision about the loan.
Loan document exceptions are important part of managing borrowers financial and reporting documents for loan monitoring. Almost 70% of banks still rely on some combination of spreadsheets, core ticklers, or other manual processes.
BankStride is a digital banking platform you've been waiting for. BankStride makes it easy for banks to automate loan documents, exceptions tracking, loan reporting and covenant monitoring. No more managing checklists, searching for files in emails, or waiting on updates from other parties. Just create your requests and let BankStride do the work for you.
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Many Banks and lending companies depend on non-public client information to provide their
services. Examples include:
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Automate Document Gathering
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Checklist For Loan Reporting Requirements
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Frictionless Customer Experience To Send Documents
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Create Credit Exceptions & Tickler Tracking
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Automated Loan Monitoring and Loan Compliance
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Loan Reporting, Risk & Financial Reporting
Without a dedicated tool, professionals would have to manually manage checklists and calendar
events to keep track of all required information. BankStride automates this work while improving
security and reporting.
How does our bank customer use BankStride
For example, BankStride has proven effective in managing revolving lines of credit. BankStride automatically requests and reminds customers to submit monthly AR and AP listings, inventory analyses, and borrowing base certificates each month.
BankStride reminds the banking team to test various financial ratios. The results of the customer’s actions and the ratio testing all roll up to per-banker and per-office reports that can be run on-demand in seconds.
Our bank customer uses BankStride to schedule and automate the activities required to monitor loan agreements.
Why BankStride platform
BankStride is a web-based software solution for commercial banks and credit unions that works with customers to manage loan agreements and eliminate credit exceptions. FileStride improves credit exception management by reaching beyond the walls of the bank to work directly with customers.
Customers respond to information requests much like paying an online invoice – they clearly see what’s required of them and they act. Customers can respond using a login-less portal or by email – no account or password required.
With BankStride, banking teams can schedule recurring requests for documents like financial statements and tax returns, compare actual and threshold covenant values (e.g. minimum DSCR), and send compliance certificates for signature via DocuSign.
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BankStride is like autopay for customer information.
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How does this help banks
Banks that pursue superb loan agreement management are faced with handling complex recurring tasks using the basic tools of email, spreadsheets, and calendar ticklers. Banks that let this work fall behind risk delaying their awareness of problematic loans or operating practices, jeopardizing capital and reputation.​
A borrower’s risk profile can change significantly over the years that follow a lending event. Managing loan agreement adherence through reporting and internal monitoring is an ongoing and tedious battle for banks.
With BankStride, banks gain high-resolution loan agreement monitoring that saves time and delights customers.
​Benefits of Using BankStride for
Covenant Monitoring
Risk Mitigation: By providing real-time alerts and comprehensive monitoring, BankStride helps mitigate the risk of covenant breaches and financial penalties.
Accuracy: Integration with financial systems ensures that the data used for covenant calculations is accurate and up-to-date, reducing the risk of errors.
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Efficiency: The automation of data extraction, monitoring, and reporting streamlines the covenant management process, saving time and resources.
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Enhanced Compliance: BankStride ensures that all covenant requirements are met, maintaining compliance with loan agreements and fostering strong lender relationships.
BankStride is powerful for bankers
Flexible information management
BankStride supports one-off and recurring information requests with flexible storage layer configuration options.​
Healthcare & Life Sciences
Bank leadership can drill down to identify pockets of risk and underperformance, ensuring every team member knows where to focus.​
Loan Monitoring
Track financial reporting, covenants, and certificates, and issue compliance certificates for signature via DocuSign.​
A Clear Banker's View
See your portal in action.
Easy for bank customers
No usernames and no passwords
Customers receive tokenized links for portal access, and bankers can request information from anyone with an email address.
Upload or email
Easy-to-use customer portals show exactly what is needed, while email-based file ingestion lets customers respond by emailing files.
Timely alerts
Reminders and alerts are aggregated to prevent information overload, can be toggled per user, and feature customizable schedules.
A Clear Customer's View
See your portal in action.
Know what you have, know what you need.
BANKERS STREAMLINE LOAN REPORTING DOCUMENTS
Why BankStride?
We're the digital banking solution you've been waiting for.
We make it easy to automate your loan reporting and covenant monitoring. No more managing checklists, searching for files in emails, or waiting on updates from other parties. Just create your requests and let BankStride do the work for you.
How it works
BankStride combines checklists with cloud storage to help you communicate and monitor your information requests and documents.​
All it takes to get started:
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​Request items by creating projects for one-off items or templated lists.
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Review incoming files from your client and mark items as satisfied or complete.
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Repeat with automatically recurring requests and reminders.​
Bankstride platform features
Why do banks and customers love BankStride?
