LBA Ware: Automation Solutions to Unlock Lending Potential

As automation knocks the doors of banking sector, retail bankers are slowly moving away from legacy ways such as spreadsheets and manual processes across disconnected systems. Alleviating the issues that come as a “part and parcel” of manual processes that include repetitive data entry and lack of transparency, banks require solutions to optimize business processes, maximize productivity, and operational efficiency within lending. LBA Ware (Lending and Banking Automation Software) offers cloud based solutions that automate compensation for retail bankers and mortgage lenders while integrating disparate systems. “Our software enables clients to organize data, cut out duplicate tasks and run their businesses more efficiently,” delineates Lori Brewer, Founder and Lead Software Engineer, LBA Ware.

The company’s CompenSafe, a cloud based SaaS solution, enables banks to get complete insights into lending performance and profitability while eliminating repetitive, manual calculations, and dual data entry. Branch managers can measure key performance indicators and sales activity through CompenSafe’s Scorecards. Using visual snapshots of loan activity, sales teams can evaluate opportunities, success, and improvement areas. With complete visibility into loan portfolio, sales teams can then easily generate reports to manage lending effectively. Moreover, it assists banks with commission-based employees’ payroll calculations.

Keeping the loan files updated is LBA Ware’s LOS Talker, which provides loan data throughout the workflow. It integrates with loan origination systems, CRMs, and legacy systems for timely data transfers and automated marketing communications. Further, the company’s DRAW, assists banks with construction lending that integrates data between core banking platforms, onsite third party inspectors, and builders. Retail banks can track draw disbursements, inspections, and construction lending details through single software. Using its internal online portal, managers can ensure loan draws are reconciled and disbursements match actual loan debits. In addition, it offers an inspector portal that creates inspection reports from any device and a homebuilder client portal for the contractors and builders to see real time status of their loans.

Our software enables clients to organize data, cut out duplicate tasks and run their businesses more efficiently

With a vision to assist banks in optimizing their lending operations, LBA Ware tailors each application according to their unique requirements. “We strive on building quality, value-laden, data-rich applications to help our customers grow and thrive in a challenging environment,” adds Lori. The firm has a large client base comprising of companies from retail banking as well as mortgage field including Fidelity Bank, Gateway Mortgage Group, Envoy Mortgage, and Homeowners Financial Group. In one instance, Pulaski Bank, required to structure a commission with new schedules or allocations. CompenSafe helped them with their commission reporting allowing them to create various reports from finance to loan origination production. Further, the bank used CompenSafe to build a file according to the pay types and company codes for their payroll system. “We also have three joint ventures whose commissions are processed in CompenSafe custom built to support our company,” affirms Lisa Birmingham, VP, Information Systems, Pulaski Bank.

The company has recently brought about new additions to its CompenSafe software that gives a snapshot of net pay and unpaid draw balance for each pay period. The new payroll and balance summary collects details of account activations and changes made to employees CompenSafe accounts. “Along with software updates, we are going to focus on making our process more efficient to bring on more clients,” concludes Lori.