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Redstone Consulting Group Recent Webinars

RDC – Redstone’s real-time success story
The Remote Deposit Application automates the two crucial bookends of the remote deposit process, qualification and deposit posting. The application qualifies a remote deposit user in real-time each time a request is made to use the service. The application also provides the ability to have deposits posted to the users account in real-time rather than through a batch process. These two pieces make the remote deposit experience a seamless flow for your users. Being able to access the service instantly and seeing deposits in the account immediately after completing a transaction will increase use and buy in from your membership. This in turn will reduce branch traffic, ease the workload on back office staff and in the end, provide cost savings to your institution.

Overdraft Research Tool – Reducing your call times
This DNAapp will provide a snapshot of an account’s standing and/or balance at the time of item presentment. Today, gathering this information in the current manner takes time to navigate multiple screens, review and capture the information, and ultimately determine if you are going to pay the specific item in question. This DNAapp is a great way to streamline your customer service and overdraft research processes which will save your institution valuable time and money by lowering your cost to serve these types of clients.

Account Role Manager – Role maintenance made simple
This DNAapp is a multiple screen application developed to simplify and streamline the operation of updating a person’s or organization’s roles for a list of deposit accounts (e.g. checking, savings, money market, etc). It allows a user to search for the deposit accounts of a person or organization, select the account of interest, add roles for a new person or organization to selected accounts, remove roles for an existing person or organization from selected accounts, and change account ownership types after roles have been added to or removed from selected accounts. The DNAapp also automatically delinks the agreements between a person and selected accounts once the NonTax Owner and/or NonTax Signatory roles are removed.

TDR & Rpts – The troubled debt compliance solution
Redstone Federal Credit Union is able to produce reports in conjunction with Loan Modifications, Troubled Debt Restructuring, and Impaired loans presently on our books using DNA Creator applications developed here at Redstone Federal Credit Union. To allow this reporting to occur special internal tables had to be established to house and maintain information related to these loans. Also, we are currently developing an additional DNA Creator application which will be used to actually perform the decision making process and necessary approvals associated with affected or potentially affected loans. The questions and input required to reach the appropriate decision pertaining to the status of a given loan resulted from a direct partnership with a nationally recognized external auditing and consulting company. The LMOD/TDR identification and reporting is a requirement under ASU 2011-02 (Accounting Standard) and Impaired Loan identification and reporting is required under SFAS 114 (Accounting Standard). These also assist in reporting on the NCUA 5300 Call Report (Quarterly). Any financial institution subject to the same requirements would surely benefit from using these reports. And additionally, when available, the app for making the necessary decisions associated with these types of loans.