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RFID File Tracking Software for Managing Loan Documents and Mortgage Files

Color Coded Labels for organizing and managing loan documents and mortgage files

A community bank recently updated their records management and file tracking software for managing loan documents and mortgage files. The bank had outgrown the capabilities of their existing file tracking software due to growth and acquisitions. Southwest Solutions Group’s Information Management Services Division stepped in to help by providing the bank with a new records management system including RFID File Tracking Software for managing loan documents and mortgage files.

Why the Bank Wanted New File Tracking Software

Fixed RFID Reader located in the bank's file room

The bank wanted more accountability and control over managing loan documents and mortgage files from loan origination and processing to retention schedules. They wanted a software platform that would keep track of file locations to enable enhanced workflow and efficiencies to provide better and faster service for their customers. Also, the bank wanted a system that would be easy to use for the numerous employees who would be interfacing with it.

After looking at several solutions, the bank selected a records management system with RFID File Tracking Software. The bank chose our system because the software was able to manage loan documents and mortgage files throughout their lifecycle, does a better job of tracking files, and was easy for employees to use.

RFID File Tracking Software: A Key Component to Managing Loan Documents and Mortgage Files

A key component of the records management system is the RFID File Tracking Software. The RFID File Tracking Software gave the bank better control of exactly where documents are located at any given time, which basically transformed the way they managed loan documents and mortgage files. Below are four examples of how the RFID File Tracking Software changed their business.

  1. Check-in/Check-out: Previously, the file clerk would manually check files in and out to employees. Now, employees at the bank no longer have to worry if the file room clerk is available to check out files because the RFID File Tracking Software connects the file to a RFID tag that is affixed to the employee’s badge and automatically updates the system in real time with the location/person who has the file.
  2. Performing Audits: Before, the file clerk would have to physically check each file in the room to account for its whereabouts. Now, the file clerk uses the portable RFID reader to simply scan a barcode, which represents the file room and tells the software his location, and then waves it across the files on the shelving. Once he is finished, he docs the portable reader and it automatically updates the system with an account of every file in the room.
  3. Audit Trails: Prior to the new system, there was no software that could provide a detailed audit trail of where the files had been. Now, the RFID File Tracking Software creates an audit trail for the bank to monitor where loan documents and mortgage files have been and who has accessed them. This history can be accessed at any time and exported whenever necessary.
  4. Locating Missing Files: The bank’s old system provided no help in locating missing files. With the RFID File Tracking Software, the file clerk just inputs the id of the missing file into the portable reader and walks around the office building. Once the file clerk is in the area of the missing file, the portable reader will notify him.

The simple dashboard makes the RFID File Tracking Software easy to useContact Us for More Information on Using RFID File Tracking Software to Manage Your Loan Documents and Mortgage Files

If you are interested in how RFID File Tracking Software can help you manage your loan documents and mortgage files, give us a call at 1-800-803-1083 or send us a message. We offer a free consultation to see if RFID technology makes sense for your business.

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