COMMERCIAL BANKS AND FINANCIAL INSTITUTIONS

iLumen powers a wide range of solutions from firm-wide enterprise platforms to single software products for financial institutions of all sizes from community banks to some of the largest financial institutions in the world. Some of our customers include:

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Challenges for Commercial Lenders and Financial Institutions

  • Accessing a complete view of commercial customers.
  • Equipping Relationship Managers, Credit Manager, Risk Managers and Bank Executives with the information they need, when they need it, delivered on the desktop.
  • Identifying sales opportunities using automatic sorting and viewing from multiple, stand-alone databases.
  • Expanding cross and up-selling of products and services with qualified customers and prospects.
  • Governing portfolio risks and compliance efficiently and comprehensively.
  • Improving efficiency of new customer underwriting and approval.
  • Eliminating redundancy in data entry, reducing manual processes, and improving data accuracy.

iLumen Solution Overview

  • iDEA™:  Customer data resides in disparate systems in various departments of the firm. Receiving a comprehensive view of the bank’s customer or portfolio is a difficult and time consuming process. iLumen’s Data Exchange Architecture (iDEA) collects, standardizes and delivers customer information from the various systems in the bank. With iDEA, banks can easily gain powerful insight into their commercial portfolios and can drill down to individual companies and specific financial attributes and trends. iDEA’s data connectors reduce and eliminate the inefficient ,error-prone data re-entry process.
  • Customer Connection™: Delivering financial data to the bank or firm is more automated and secure through this customer facing web portal. Automated reminders prompt your customers to send their required financial data. A simple upload from any accounting system through a bank branded web portal fulfils loan covenant and compliance requirements and can provide an automatic feed to your spreading system thereby eliminating manual spreading. Customer Connection can automatically present valuable financial information to your customers providing them with insight and perspective that your customers can use to run their businesses.
  • Portfolio Connection™: Easy access to customer information enhances the effectiveness of Relationship Managers, Credit Managers, Risk Managers and Bank Executives. Portfolio Connection provides an easy-to-use desktop view of commercial accounts that can be queried, sorted, viewed and reported to identify service opportunities, credit warnings, portfolio analyses and more. Portfolio Connection turns disconnected data into actionable intelligence and equips the banker to become a more valuable financial advisor to the commercial client.

Benefits and R.O.I.

  • Information to the desktop enhances the effectiveness of the banker and firm executive.
  • Automated data flow reduces and eliminates manual data entry and re-keying errors.
  • Flexible, professional reports and analyses are produced in a fraction of the time.
  • Reduce and eliminate manual statement spreading.
  • Increase customer services and wallet share with targeted reports and pitch book presentations.
  • Detect early warning signs for troubled assets and accounts.
  • Aggregate industry information for powerful comparative analyses.

Implementation and Pricing

  • Pricing is formulaic and based on the number of users and commercial accounts in the system.
  • Please contact us at sales@ilumen.com for customized pricing.