Bank References

Bank Reference feature

Bank references document bank and account information for your customer's bank references. Use Bank References to maintain bank reference information for a customer including:

• Details for multiple deposit and loan accounts.

• Your confidence rating referred to as Relative Weight that you can assign for each bank reference and for each deposit and loan account.

• Verification comments.

• Dates to indicate when the next review is needed.

From the Bank Reference feature you can select a bank reference to generate correspondence for that reference.

You can create an unlimited number of bank reference records for each customer, and can add an unlimited number of deposit or loan accounts for the reference.

Selecting banks

When you add bank reference information, you can select the bank from a list of banks maintained by your business administrator. The bank reference is automatically filled in with the information stored for the bank you select.

When you enter Letter of Credit Collateral transactions, you select the Issuer, Advising, or Confirming bank from the banks you enter using the Bank References feature.  

Adding new banks

When adding a new bank, the information you enter is stored so that you can select it when adding subsequent bank references for any customer.

Who can add bank references

Bank information can be stored by sales representatives when adding bank references for credit requests, by credit analysts when adding bank references in the Customer Analysis module, or by your business administrator when maintaining banks through the Admin module. These users must have the capability to add bank references included in their user role assignments.

Integration with the Automated Decisions module

You can add bank references for a credit request or for a customer. You can view bank references entered with credit requests through the Customer Analysis module. If the bank reference has a Tran # on the Bank References screen, it indicates that the bank reference was entered for a credit request.

Relative weights

You can assign both references and accounts a relative weight value, so that you can treat multiple records differentially. Relative weight is a value between 0 and 100 that you assign to a reference or an account that indicates the confidence rating for this reference or account relative to other bank references or accounts of the same type for the customer. The total of values entered for all bank references for a customer should not exceed 100, and the total of values entered for all accounts of the same type (deposit or loan) should not exceed 100.

When you assign deposit or loan accounts a relative weight, eCredit calculates an adjusted relative weight for each account. The adjusted relative weight for an account is calculated by multiplying the relative weight for the reference by the relative weight for the account.

Relative weight information is especially important if you have credit decision rules used by business processes or scorecards that evaluate reference or account information.

Changing Bank Reference Information

After you enter bank information, the only information you can change in the Bank Information section is the relative weight you assign to the reference. You can change contact, verification, review frequency, comments, and deposit or loan details for the bank reference at any time.

Your business Administrator can use the Bank Maintenance feature of the Admin module to change any information for the bank.  

Related topics

• Adding Bank References for a Customer

• Changing Bank Reference Information for a Customer

• Deleting Bank References for a Customer

• Adding Deposit Account Information to a Bank Reference

• Editing Deposit Account Information

• Deleting Deposit Accounts

• Adding Loan Account Information for a Bank Reference

• Editing Loan Account Information

• Deleting Loan Accounts

• Generating Correspondence for a Bank Reference