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LEDGER MANAGEMENT
Throughout the lifetime of a loans or debentures portfolio, many different financial management tasks are required to ensure the portfolio is properly managed and free of undue risk. This includes operating and monitoring multiple bank accounts, and applying and amending financial transactions, as and when required.
Due to its nature, the day-to-day financial maintenance of a portfolio is therefore inherently labour-intensive. However, whilst some of the tasks can be automated (for example, loans accounts could be automatically settled at certain thresholds), most tasks remain manual. An example is the reconciliation to the correct bank account of misdirected payments returned by an overnight electronic bank funds transfer. This requires experienced staff to work methodically through various reports and lists looking for the intended recipient's bank account details, etc., and amending the transaction accordingly for re-processing overnight.
Ensuring any portfolio management reports accurately reflect the current, real status at any moment in time is therefore a people-intensive task, requiring a strong attention to detail and a methodical approach, guided by experience and understanding of the banking system and associated rules and regulations.
WHY FASNEXUS?
We manage daily physical bank transaction volumes in excess of 10,000 items totaling approximately $100 million per month. We do this through a combination of good systems, well trained and reliable staff, and strong processes. Our IT system generates a list of the tasks every day that require completion for every client ledger we administer, as well as the progress on each task. Where possible, the system can indicate the correct action to be taken based on our clients' desired policies.
Due to the numerous third party relationships in place between finance companies and their suppliers, we also liaise with these parties and, where possible, provide on-line information to improve their productivity and lower the cost for both the supplier and our clients. An example is allowing authorised collection agents access to customer files on-line to reduce retrieval and courier costs.
SUMMARY
- Using our professional staff, IT systems and years of experience, we can ensure that your ledgers are worked and managed efficiently, maintaining confidence in your portfolios and avoiding undue risk
- Contact us for more information.
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