LQAS Imaging Frequently Asked Questions

Q: What is it that makes the imaging option in LQAS unique?

A: An imaging application is divided into three parts: Scanning, Storage, and Retrieval.

1. Scanning: LQAS scans the images into the system either while the documents are tracked (automatic indexing to the document level)* or bar coded bulk scanning. Bar coded scanning allows high volume duplex scanning while indexing of the images was performed when the bar code was produced. Scanning can also be performed at the operations area or remotely at the branch or both.
2. Storage: Hard Drives are used for primary storage of the images and CD-ROMS are used for write once media for backup and legal purposes. This method is the fastest and surprisingly the least expensive means of storage. The hard drives used for storage are standard drives that you can purchase locally ranging in price from under $150 for a one hundred twenty gigabyte drive (1,500,000 pages) to $17,500 to store up to 32 million pages online. This results in online storage of 10,000 pages for 60 cents, using the 120 megabyte drive. CD-ROM media with an expected life of over 100 years is less than 30 cents per disk and can be recorded multiple times for offsite storage at various locations.
3. Retrieval: LQAS indexes all images at the document level. This means that the images are accessible by document instead of by Customer or by Loan. Retrieval time is greatly reduced and review time is minimized because any document is usually only one second away. Generic imaging systems could force the user to retrieve several hundred pages needlessly during the day. The retrieval speed of LQAS is the fastest in the industry. We have retrieved an image at a branch over 400 miles away in one second. If the bank settles for slower retrieval speed it is like buying ten-year-old PCs today instead of Pentium IVs.

* Indexing is the method that connects the images to the database. The level of detail of the connection determines the ease of retrieval. For example a note with 500 pages of images indexed to the note would require the user to possibly retrieve 500 pages (remember microfilm). LQAS indexes to the document and stores all scans individually. If you wish to retrieve the most current UCC-1 highlight the document and press F4.

Q: Can I interface the imaging system that we already have in place?

A: We have been able to fully customize our products for over ten years. If we can read your image files and are supplied with the indexing information then an interface can be discussed. Retrieval speed of your existing system can be brought up to LQAS performance levels if the images are saved into our system also. The other advantage to this concept is redundancy. LQAS could retrieve images if your imaging system is down and vice versa.

Q: What is Bulk Filing?

A: Our company has been working with imaging for over twelve years. The question that we are always confronted with is when can I destroy my documents? Some bank clients that have destroyed documents have regretted this decision at a later date. We have developed a tracking system for the paper itself that reports the location of the paper at all times. The paper can be stored by date received, filed into boxes and stored at various remote locations. The major strength of LQAS in this area is knowing when to destroy the document according to a strict retention schedule. Commercial lending involves over 200 various documents to secure the portfolio. Bulk filing can’t reliably function without the individual tracking functions of our system.

Q: What is virtual Loan Review?

A: Virtual Loan Review enables the regulator, loan review officer, or lender to examine all aspects of a line of credit at anytime from any location. LQAS can pull all customers above a loan cut exactly like an examination. When the lines are selected each customer and note can be reviewed, including the status and image of any document. LQAS also has a fully functional loan review module that includes grading, write ups, and reserve calculations for the portfolio. This process reduces the time required for a review fivefold.

Q: What is the advantage of using an embedded imaging solution?

A: Embedded-imaging software can be more intelligent and fit the specific area of banking as a total solution at the departmental level. A generic imaging system can’t determine an exception, track loan loss allocations, perform a virtual loan review, or bulk file documents for safe offsite storage.

Q: Is the imaging engine that you used in LQAS widely known?

A: We use the SkyLine imaging engine inside LQAS. To date they have 10,000 installations worldwide including applications in numerous companies, some of which are listed below.