Automated Financial Systems (AFS), Inc., announces a milestone in its ongoing support of BBVA Compass Bancshares, Inc., with whom it has had a 15-year relationship. AFS and BBVA Compass have most recently collaborated to automate the bank's commercial loan origination functionality, furthering the full implementation of an integrated, straight-through processing (STP) credit manufacturing model. The advancement of STP at BBVA Compass is part of its larger Enterprise Risk Management (ERM) initiative, designed to raise BBVA Compass to the status of a top-ten U. S. institution.
The STP solution for BBVA Compass is an integrated functionality for commercial loan origination, loan administration and loan accounting. The end-to-end integrity throughout the loan process improves the bank's risk controls, customer service, data quality and overall efficiency. BBVA Compass anticipates that the elimination of manual processes will significantly reduce its manual "touches" associated with commercial loans.
Within this multiphase, ongoing project, AFS is also supplying in-depth industry knowledge to support the BBVA Compass assessment and control of credit, market, compliance, reputational, operational, and business risk. The bank seeks a more systemic credit manufacturing model, harnessing technology to deliver better customer service while enhancing financial performance.
"We've made substantial progress in our efforts toward straight-through processing by leveraging the technological capabilities of AFS," said Kristin Julbert, director of Technology Transformation."This effort is critical to the future of our organization, and our relationship with AFS supports both our business and technology needs."
"Integral to the success of BBVA Compass in helping them meet their ERM goals is our ability to integrate the AFS vetted delivery process into their overall ERM program across the bank. By using our unique STP process for Commercial Banking combined with our Best Practices experience, BBVA Compass and AFS have developed a unique delivery relationship that has met all of our targeted goals and timelines," says John H. Shain, President of AFS.
About AFS
Automated Financial Systems (AFS) is the global leader in providing commercial lending solutions to top-tier financial institutions. It is the pioneer of the straight-through processing (STP) credit manufacturing model. AFS uses its STP foundation to provide benchmarking analytics from the largest, most comprehensive database of loans in the world (one million loans, reflecting US$1 trillion in outstandings). AFS is headquartered in Exton, Pennsylvania, a suburb of Philadelphia; its European subsidiary, Automated Financial Systems GmbH, is based in Vienna, Austria. For further information, visit our website at www.afsvision.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates more than 710 branches, including 371 in Texas, 93 in Alabama, 78 in Arizona, 65 in California, 45 in Florida, 37 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading Small Business Administration lenders and was named retail bank "Brand of the Year" by a Harris Poll EquiTrend® study in 2011. Additional information concerning BBVA Compass can be found on our website, www.bbvacompass.com.
About BBVA
BBVA is a customer-centric global financial services group founded in 1857. The group has a solid position in Spain, is the largest financial institution in Mexico, and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading eurozone banks in terms of return on equity and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. More information about the BBVA Group can be found at www.bbva.com.
Contacts:
Automated Financial Systems (AFS), Inc.
Rene Coady,
484-875-1120
Director of Marketing
rcoady@afsvision.com
