Effective business portfolio management
Systems and processes are rigorously audited and Sarbanes Oxley compliant.
Highly trained experienced professionals.
Bank of the West provides a comprehensive menu of services to efficiently originate and manage your business portfolio. All services are delivered on a private-label basis and can be customized to meet your unique business needs.
Primary Services include:
Applications can be submitted electronically, via fax, phone or through a private label application processing website. Upon receipt, applications can be automatically scored and decided by our credit underwriters or transmitted to our client for decisioning.
Credit Analysis without Financials
Bank of the West credit scores finance applications utilizing Fair Isaacs' Liquid Credit model. This system, licensed by Bank of the West, applies to small business applicants with sales under $5 million. Liquid Credit imports data from Equifax, Experian, D & B and The Risk Management Association and evaluates the most predictive repayment performance characteristics. Processing and credit parameters are established to implement clients' specific policies. Typically the level of acceptable risk is pre-determined and a cutoff for scoring approval and specific "throw-outs" is established.
Credit Analysis with Financials
Applications for larger transactions may be evaluated by reviewing the applicant's business and personal credit reports, bank & trade ratings, financial statements and tax returns. Underwriting data will vary under the credit requirements established for each program. After credit investigation and analysis, our credit underwriters will recommend a credit decision, approval terms and transaction structures according to guidelines established by our client.
Client Credit Evaluation
Many clients elect to perform some or all of the application processing and underwriting process themselves. In these instances, Bank of the West may gather credit information, prepare a credit package and transmit the application data to the client for evaluation. Applications can also be submitted directly to you. Depending on your needs, Bank of the West has multiple front-end processing systems available. Working with you, we will identify and utilize the most appropriate system that ensures the functionality you require while being secure and seamless to you and your customers.
Documentation is prepared based upon the information provided through our online application system or directly to Bank of the West's lease administrator. Complete document packages are delivered to you, the vendor or the applicant either electronically or via overnight express. Upon receipt of the executed document package, Bank of the West will audit the package for completeness. In addition, pre-booking audit validations are programmed in our front-end system to add further assurances of document accuracy.
All transactions are accounted for in our InfoLease management system. As part of our services, Bank of the West will ensure all contracts are balanced and booked with tax income recognized according to the parameters established by you. Contract details, including key contacts, guarantors, asset identification, insurance and other data elements unique to your business are also captured by our system.
Invoicing and Payment Application
Bank of the West supports a variety of invoice types. We will invoice customers for rents, taxes, late charges, property taxes and other miscellaneous billings. All cash is posted promptly and we diligently follow-up on returned checks. Automated Clearing House (ACH) debits, pay by phone and credit card payments are popular payment choices of our clients and are fully supported by Bank of the West.
Bank of the West follows a pre-determined, mutually agreed upon collection protocol to ensure complete coverage of the portfolio. We understand the protocol will vary depending upon customer credit quality, asset type and variable influences, such as changes within the economy or at different times of the year. Our collection efforts are targeted to minimize past delinquencies and maximize collection of rental payments, late charges, taxes and other ancillary outstanding amounts. Understanding accounts may be considered current while having outstanding charges such as taxes and late fees, we work with clients to implement processes and procedures to address and collect such receivables. We develop proactive collection strategies specific to your portfolio and maintain complete documentation of our collection efforts. We provide you with ongoing status reports on overall delinquencies and individual accounts.
Utilizing a designated toll free phone line, customers are directed to our customer service group. Additionally, we can provide you with a private label online customer service site for current contract status information. Our customer service group is available to respond to your customers' requests, including contract balances, amortizations, payment histories, contract copies, late charge explanations, audit requests and other aspects of their obligation. We are also prepared to provide end-of-lease or mid-term payoff quotes based on program parameters established within our system.
As part of our standard services, Bank of the West provides month-end general ledger entries for all lease and loans. We will provide a month-end detailed accounting report package and if requested, are able to create an automated GL interface to your accounting system. (Bank of the West does not provide accounting advice.)
Working with you, we will define key information important to your organization and collect the information for accurate reporting. Bank of the West provides performance reports including backlog status reports, past due analysis, contracts coming to term, customer buyouts, and other information as necessary to properly track portfolio performance.
Sales, Use and Property Tax Collection and Reporting
Bank of the West invoices, collects and files sales, use and property tax returns in each state and jurisdiction. Utilizing state-of-the-art tax software, our systems are updated monthly of all jurisdictional changes and are able to accurately assess your customer. If requested, we will provide up-front tax treatment assessments to ensure the proper tax treatment is utilized. Bank of the West will maintain appropriate records, coordinate and support tax audits. (Bank of the West does not provide tax advice.)
Insurance and UCC Follow-up
If requested, Bank of the West will ensure that obligors maintain current property and liability coverage, as required under their contract. Similarly, Bank of the West will file and follow for UCC assignments, filings, extensions, terminations, etc. and provide the appropriate reporting.