Tracking CIP exceptions needs to be part of any bank operations management process. System accessibility, ease of use and consistency are keys to ensuring data accuracy and consistent follow-up by responsible person. Done properly deviations are minimized thereby reducing bank risk profile.

“FINBOA gives me a better understanding within the retail staff on the process for both Reg E and Account exception tracking.  A tool to help retail staff answer customer questions on Reg E process.  A process for retail staff to clear exceptions and be current.  Operationally, much better reporting system, less manual intervention to clear items for account exception tracking.  Reg E, consistent processing with notifications to perform tasks to remain compliant as well as handling of CAMS requests.”

Sherrie Huber, Virginia National Bank

The FINBOA™ CIP Exception Tracking System greatly simplifies the administration of loan and customer exceptions for lending compliance. The system is designed to provide operational efficiency, enhance record keeping, and simplify compliance.

What It Is:

  • Browser user interface for the deposit operations, branch managers and new account reps
  • Automatically generate exception letters for customer notification
  • Timeline management and Deadline Alerts
  • Track exceptions by customer or by account
  • Track customers linked to each account for beneficial ownership

Your Benefits:

  • Meet regulatory requirements and minimize account risk
  • Improve customer experience
  • Reduce time to correct exceptions by 55%
  • Streamline information distribution to branch managers and new account reps
  • Track updates easily through account or customer screen