News
Latest information about Agiletics and the banking industry

Agiletics Releases New Customer Self Servicing Escrow Module

Agiletics released in May 2006, its new Escrow Web Express module. Web Express is a “Customer Self-Servicing Module” that will permit a bank’s customers to establish and manage their own escrow accounts over the Internet. It will permit these accounts to be processed by the Agiletics Escrow System released to the general banking public at the beginning of 2006. Escrow Web Express will considerably lower escrow operational servicing costs by shifting the tasks of new account entry, deposit allocations, search and inquiry, maintenance, and closing activities to their customers. Banking customers will enjoy better service with immediate access to all of their own escrow information.

Banks Plan to Increase Deposits and Lower Operating Costs with New Solution

Two of the 15 largest U.S. banks and two community banks have signed licenses in the first quarter of 2006 for the new Agiletics Escrow System which just became available to the general banking community at the beginning of 2006. The markets that will be serviced by these banks is diverse – apartment complexes, health care facilities, attorney/trusts, and corporations issuing health savings accounts (HSAs), real estate, and construction. Three of the banks are also implementing the new Agiletics Escrow Web Express system that permits their customers to establish and maintain their own escrow accounts. All of the banks installing the new software will have significant additional functionality and lower escrow servicing costs. Increasing low-cost deposits while attracting new customers will be the major benefit to these banks. They all intend to use this new business to expand additional cross-selling opportunities for cash management, credit, and deposit services.

Innovative Automated Lending Programs Boost Business at Top-Ten Bank

One of the ten largest banks in the U.S. has broken new ground in leveraging credit services with cash management services to win new customers and cross sell additional services. Their customers may choose from six different funding sources that are integrated with DDA to provide automated overdraft protection and DDA target balance management. Asset -based lending, brokerage lines, installment loans, commercial loan lines of credit, credit cards, and even savings provide automatic funding on a same-day basis to provide automatic DDA balance management. These funding sources may also supplement other integrated DDA funding from a large variety of investments.

Different specialty departments within banks using the various DDA secondary funding sources mentioned above serve multiple business lines. Small, medium and large corporate, municipal, and wealth management departments may all provide different products using these diverse funding sources. They may use them for simple DDA overdraft protection services or combine them with services that include automated DDA liquidity management and investing services.

Agiletics Automated Borrowing System (A.B.S.) is the software vehicle that permits these innovative integrated credit services. Product and Operations Managers may establish and control all of these services from menu-controlled options that permit them to quickly develop and deliver the services that their sales personnel need to win and keep business. Big and quick do not have to be mutually exclusive. A.B.S. and other CAMS modules are key factors in promoting this bank as a provider of rapid innovative responses.

Eight Billion Dollar Bank to Use Agiletics’ M.B.A. (DDA Liquidity Management System) for Next-Generation Features

A major Southern Regional bank licensed the Agiletics M.B.A. System late in the 2nd quarter of 2006. M.B.A. is a Next-Generation ZBA system. The bank will use features in a new release of M.B.A. that include a customer’s account balances in short-term securities, mutual fund instruments, and credit balances in combination with its DDA balances in computing multi-tiered/multi-account ZBA availability. These integrated balances will be available to maintain DDA target balances during ZBA processing. A customer may have unlimited DDA account balances maintained with M.B.A. liquidity sweep transactions. Available balances may be automatically swept across accounts residing in different profit centers and banks. Overnight borrowing and lending among a customer’s DDA accounts with optional interest computations will be available for the bank to offer to customers with multiple profit centers. The bank will be able to maximize the value of their customers’ operating capital and deliver services that most competitors are not capable of providing.

This Next-Generation DDA liquidity management solution will plug into the front of their DDA software and require no DDA changes. It will replace their current DDA system ZBA processing with M.B.A.’s comprehensive liquidity management features.

Top-Five U.S. Bank Installing Agiletics Investments, Fund Sweep, and A.B.S. Systems

One of the five largest U.S. Banks is consolidating its sweep and automated investing systems into the Agiletics CAMS (Cash Management Systems) product platform. This consolidation will improve efficiency and add considerable combined services functionality. They will be using the new multi-investing features of CAMS that provide condition-determined investing into multiple types of securities from a single deposit source. Many of their clients desire to split the investing of very large DDA balances into diverse investments that include repos, offshore euros, and mutual funds. This capability is supported by the new release of Agiletics CAMS system. Automated investing options based upon balance sizes, desired dollar investments, split balance percentages, and availability of investments will permit them to develop strategic investing objectives in partnership with their customers’ treasury managers. They will also integrate automated credit funding with these sophisticated investing options.

Fed Funds operations will use the newly installed CAMS platform as well.