It’d be nice if there was a big ol’ pause button our society could have pressed in early 2020, huh? “Well, this virus is looking like a pretty serious problem. Let’s all just put everything on hold and hibernate for six months.” Unfortunately, that’s not quite how it works. Employees still need income and customers still need their accounts serviced.
On the positive side, GOLDPoint Systems was able to smoothly adapt to Covid working conditions, and our ability to take care of our clients wasn’t hit too hard. We’ve been able to continue innovating and modifying our products to suit your needs, and we’re proud of the things we accomplished during these extreme circumstances.
With 2020 behind us and a…cross your fingers…hopefully better 2021 stretching out ahead, we thought it would be worthwhile to look back on a year of socially distanced work and highlight our most prominent developments. If you haven’t taken advantage of these new features, reach out to your GOLDPoint account manager today to learn more about implementing them at your institution.
- New institution options have been added that allow you to restrict the number of times a loan’s due date can be changed, as well as how far ahead the date can be moved. Yet another option allows you to restrict the due date from rolling more than one instance ahead in a single payment.
- Options have been added to EZPay for charging convenience fees on deferments. Another option allows your tellers to process multiple deferments at once.
- Convenience fees for credit and debit card transactions in EZPay can now be defined independently of each other.
- GOLD ExceptionManager, the service we provide for processing exception items failing to post to customer accounts (through inclearing checks, ACH, ATM, POD, lockbox, and automated loan payments), has been merged with our loan servicing software (CIM GOLD) for an easier and more user-friendly experience.
- Two screens were ported to CIM GOLD from our legacy software for the purpose of managing commercial analysis accounts.
- A new action code was created to prevent future or recurring payments on accounts above a certain APR threshold, as dictated by Consumer Financial Protection Bureau (CFPB) regulations.
- Institutions can now fund loans via a debit card that they issue to their customers.
- New Deferment Codes have been added for Kentucky, Missouri, and Indiana, and updates have been made to existing deferment codes for Tennessee, Illinois, North Carolina, and Wisconsin.
- Institutions can now place holds on incoming customer-directed transfers for a specified number of days.
- Force place insurance can now be amortized over the life of the loan, not just the policy term.
- A new option is available for institutions who want late charges to be assessed on qualifying accounts every day, including Sundays and holidays.
- New options are available for masking account numbers in system history and on printed checks.
- Our Investor Portal has been enhanced with filtering options for Loan Type (which is an institution-specific number) and ownership status (Owned/Potential/All).
This list is by no means exhaustive. Please visit our Updates page for information about even more fixes and enhancements we’ve made across the spectrum of products and services we offer.
Remember that GOLDPoint Systems prides itself on its commitment to customizing its services to fit your institution’s specific needs. If our products do not currently perform a task you require, contact your account representative to discuss how we can serve you better.