Event-Driven Fees
"This upgrade (Level III, Release 8.3) reinforces Comerica's leadership position in technology, innovation, and continuous improvement. "We believe there is value in staying current with releases to provide superior loan servicing for our customers, to keep on top of ongoing enhancements, and to serve as a foundation for planning additional technology investments in the future."
Paul Obermeyer, Senior Vice
President of Comerica's Operations Services Group
Market conditions demand innovative revenue sources that are efficiently deployed and produce immediate ROI. Event-Driven fees fit this profile.
Why? In a shift from the recent past, banks are in a position of strength as they are the only players with enough liquidity to support the credit markets. Such leverage gives the industry an improved ability to implement covenants for pricing and fees. In addition, new and renewed loans present immediate revenue potential by allowing the bank to implement fees that have not been part of credits for some time and by automating fees that have been manually charged, and, therefore, often foregone, including fees for modifications, advances and over-lines.
 | Prepayment fees | | Covenant violation fees |
| Modification fees | | Advance fees |
| LIBOR breakage fees | | NSF fees |
| Over-line fees | | Renewal fees |
At AFS, we understand what banks need to capitalize on this opportunity and that's why we created AFS Event-Driven Fees—the industry's most intelligent, fully-automated fee solution, empowering institutions to flexibly create, assess, generate and collect fees triggered throughout the loan lifecycle. Through it, banks can combine automation and policy to set up fees to occur as events happen, instill discipline into the pricing/fee mechanism, create a waiver policy to require justifications and approvals and implement reporting to monitor and measure effectiveness.
By seamlessly integrating into AFS Level III™, AFS Event-Driven Fees reduces credit and operational risk while driving revenue within two months of deployment.
EDF Drives Revenue and Pays for Itself within 2 Months
Benefits
AFS Event-Driven Fees drives new levels of reliability, flexibility, transparency and operational performance through:
| Supporting existing bank fee income culture |
| Affording flexibility to tailor fee amounts to match regional market standards and acceptance |
| Providing opportunities to alter fee amounts at the obligation level |
| Offering increased accountability through an ability to measure potential fee collectibles, actual fees collected, and actual fees waived |
| Upgrading operational efficiencies and inherently reducing operational risk |
Features
| Allows various fee conditions and dependencies to permit automatic, consistent and efficient assessment and billing |
| Eliminates manual calculation and human intervention |
| Furnishes prepayment fee collection on unannounced payoffs |
| Automates needed fees when servicing a loan |
| Delivers unparalleled cost and time efficiencies |
For further information about AFS Event-Driven Fees, please contact Earlie Stowe at estowe@afsvision.com or by phone at +1 850.984.3327 or Brian Boardman at bboardman@afsvision.com or by phone at +1 484.875.1493.