LexisNexis - Banko Connector
Access Bankruptcy Information with the Banko Connector. Integrated to the Temenos LMS Collection and Recovery Modules.
The Lexis Nexis Banko connector provides institutions with an automated process for monitoring accounts for bankruptcy filings, dismissals, and conversions through Temenos LMS Collection.
Key Features
Automatic Account Monitoring
Accounts sent to Banko are automatically monitored for filings. Any matches are recorded and transmitted back to the institution.
Easily Add and Remove Accounts
Any new accounts can be flagged and sent to Banko the next day. Users also have the ability to remove accounts from the Banko database if necessary.
Customize Match Criteria
All match criteria can be customized to meet the individual needs of the institution.
Review and Discard Invalid Matches
Users have the ability to discard any matches that are not valid and keep those that are. Information that is retained as valid is stored in the Account Detail area along with the match date.
Information Validation
Before accounts are sent to Banko, the system validates the SSN to ensure it is valid. If an issue is discovered, the account will appear on a separate report for review, referenced directly within the system.
Benefits
Reduce Data Entry Requirements
When matches are found, they are sent to the collection or recovery modules, and 54 standard notification fields are automatically populated.
Eliminate the Need for Multiple Programs
Eliminate time spent toggling between more than one screen or program. All tools used to flag and send accounts for monitoring are built directly into the platform.