For you, the bank, BankFiling creates a secure digital ‘pipe’ directly to your loan customers accounting information. You continually receive up to date information on your loan customer’s business performance in an electronic format.
This information includes management accounts, debtors, stock and annual financial statements amongst others. You no longer need to allocate precious resources to continually chase customers for this information. It arrives in one secure place in an electronic format, saving you both time and money.
No hassle, no fuss, just lots of ROI. Now that’s working smart, not hard.
Typically, banks have an outdated view of their loan customers’ business due to problems in collecting their financial information. It’s an impractical, slow and costly process. Which is exactly why we changed it.
We are excited to have Luminous showcase BankFiling to more than 850 leading financial executives, VC’s, analysts and entrepreneurs at FinovateFall.
– Mr. Eric Mattson, The Finovate Group CEO.
Typically banks have an outdated view of their loan customer’s business. BankFiling gives the banks easy access to this financial infromation and offers customers a self service channel where they can easily send through their financial information when it is due. Banks can leverage this financial information to assess the financial health of their customers.
Equally, the bank can push notifications and requests to the client in a secure environment.
- Significantly reduced costs of collecting management accounts and financial performance information from loan customers (reduced headcount)
- Automated reminders further reduce bank admin costs
- Reduced bad debts due to obtaining information earlier and access to early warnings