ACES Risk Management (ARMCO), a provider of enterprise financial risk mitigation solutions, has released new enhancements to its auditing platform, ACES Audit Technology, including a new parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output.
The advantage of the new parallel workflow capability is faster loan delivery. ACES’ new parallel workflow increases efficiency by enabling multiple analysts to concurrently evaluate different parts of the same loan. It also automates task prioritization to assure the fastest cycle times for each loan.
“Most lenders at least attempt some level of parallel activity in their QC workflow,” says Trevor Gauthier, CEO for ARMCO, in a release. “Our decision to enable parallel workflow was in direct response to market demand. It replaces workarounds that rely on email and spreadsheets with a fully auditable process in a 100 percent secure environment.”
Other noteworthy enhancements include ACES’ new auto-answer feature that uses business rules to automatically answer audit questions based on available loan data, and enhanced single sign-on that can reduce on-boarding time by 50% or more.