When I founded Suntell in 1982, I had a desire to eliminate wasteful and redundant activities that I had grown tired of as a commercial loan officer. I wanted to have a loan management system that would serve as a platform to manage initial and ongoing loan and portfolio credit risk. Those two key drivers led to the formation of Suntell and the present-day loan management system we have branded the Square 1 Credit Suite.
Each year we conduct annual surveys of our customers. The customer feedback is helpful in our planning process for new enhancements and where we need to improve our delivery of service. It is our customers that make us great and obviously without them we cease to exist as a company. What is truly gratifying to me after over two decades of operations as Suntell is to hear from our customers on what benefits they enjoy by having licensed Square 1. I wanted to take this opportunity to share some of the more important benefits we have been able to tabulate over the years.
Our Customers surveyed stated the following benefits of having a loan management system such as the Suntell Square 1 Credit Suite:
- We have been able to replace our manual processes and homegrown, internal systems created in Excel or Word leading to centralized and stronger data management. This gives us greater consistently in our underwriting, servicing, and reporting.
- Integration of Square 1 with the core and centralized data within Square 1 has eliminated duplicate data entry by up to an estimated 70% or more for less errors and quicker credit decisions and improved loan servicing and reporting.
- We have streamlined our lending processes to make sure we continue in compliance with our internal loan policies and procedures. Consistency across all or lending locations was another benefit of using Square 1.
- We are now creating efficient and consistent credit presentations and supporting financial analysis for stronger credit decisions in less time.
- An integrated enterprise loan management system such as Square 1 has given us a competitive edge over our local competition when competing for new commercial loans.
- Our loan officers are spending less time in the office filling out forms or rekeying in data for underwriting and analysis and spending more time on the street building new relationships and bringing in new business for our bank.
- We ran out of vault storage room for our paper credit files and the Square 1’s document imaging solution solved that problem by going paperless.
- Square 1 has contributed to our banks stronger asset quality and earnings. Offsite bank examinations and high marks from the examiners have been another benefit.
These are but just a few of the benefits our customers have shared with us over the years. It makes all of us very proud to see our customers happy and enjoying several benefits by making the decision to advance their lending systems and processes into the 21st century!
Thank you again for your participation and we look forward to another year together!