EXTON, Pa.--(BUSINESS WIRE)--Automated Financial Systems, Inc. (AFS), the leader in providing lending solutions to the financial industry, today announced the new Comprehensive Capital Analysis and Review (CCAR) version of the AFS Level III Loan Accounting System. With over 100 new features and product enhancements, including the new CCAR FR Y-14Q wholesale data requirements, the 8.4 Release includes many new and upgraded features for improving data quality, revenue generation, risk management, customer service, and compliance requirements.
“AFS is solving for data quality and compliance with new data fields added to the 8.4 Release that will provide the ability to capture, edit, validate, store, and report on data elements critical to the CCAR FR Y-14Q reporting requirements. Coupled with new attestation workflows and reporting features, with this newest release, we are providing a single system of record for use in maintaining accurate and complete data to meet new and expanding regulatory reporting requirements,” said John H. Shain, President of AFS.
Shain reports, “These latest AFS Level III capabilities are in production and are available to both our Licensed and Private Cloud, AFSCommerce® customers.”
Beyond CCAR, this release also supports critical regulatory requirements including Basel data needs and Other Real Estate Owned (OREO) processing requirements. Increased operational efficiencies can also be attained through new FASB and flat fee processing, as well as new and modified inquires. In addition, improved customer service can be achieved through enhanced billing and notice options. For more information, contact Paul Elmer or Doug Skinner at 610-524-9300.
About Automated Financial Systems, Inc.
AFS is the global leader in providing commercial lending solutions to top-tier financial institutions with more than $2.2 trillion in commercial, commercial real estate and consumer loans being processed on our solutions for banks that include two-thirds of the top 25 U.S. banks and bank holding companies. AFS works with the world’s financial institutions to build lending processes based on a straight-through model and on-demand technology and services. AFS partners with client banks to understand their strategic goals and works proactively to achieve their business and technology objectives. AFS is headquartered in Exton, Pennsylvania, a suburb of Philadelphia; its European subsidiary, Automated Financial Systems GmbH, is based in Vienna, Austria. Visit www.afsvision.com.