Cync is a web based based, fully integrated loan monitoring application suite that helps lenders to improve financial operational efficiencies, Portfolio Management and maintain Risk Management standards. For any lender, it is a great advantage to have such an integrated system that can manage their business with ease of use. And for borrowers, Cync makes processing and submitting Borrowing Base Certificate (BBC) easier and faster, which allows borrowers to focus on their day-to-day business operations.
Processing: Most banking professionals are well-versed in producing multiple spreadsheet documents to calculate complex borrower data and collateral calculations on daily, weekly, monthly and yearly basis. The primary challenges encountered in the spreadsheet –centric operations are inconsistency in financial analysis due to individualized interpretation, inaccuracy due to possible typos, threat to data security due to accessibility, compromised scalability due to more loans and increased cost. We streamlined whole process in Cync using web application framework Ruby on Rails. We created an interface for users to logon using their credentials and upload required data as and when needed. We have stored all the data in My SQL database. Lending institutions use this data for decision-making process.
Monitoring: In working capital or revolving line of credit, submitting a BBC is typically once or twice a month with accounts receivable and payable. We build a monitoring system to analyze and validate data as it is coming in to the system and alert appropriate teams to negotiate with the customer to avoid future financial issues and help upper management in quick decision-making process.
Tracking: Cync application makes tracking more efficient, and lenders can see drastic reduction in their operational expenditures. It helps borrower submit their BBC online and lenders can track and evaluate the information easily and quickly.
Portfolio Management: One of the key elements of Cync is the provision of data in a timely and accurate manner. We maintain historical data in Data Warehouse and transactional data using OLTP. Transactional data is moved to Data warehouse using materialized views, Scheduled job and/or On demand jobs. We also implemented Role level security to ensure right access is given to right teams to avoid potential security issues. With the various data collection tools that we employed, management got real time access to data allowing them to have the pulse on the security as needed. System has the capability to run Business Intelligence reports to do an in depth analysis of the Portfolio. We built different views to present Borrower and Portfolio data. Risk officer has the capability to drill down the details to see the transactions, which is the underpinning for the overall results. Risk manager has capability to review balances, profitability, trends, ratios and other metrics any time, and from any location.