AFS has issued the latest Level III Loan Accounting System Release 8.3, a significant milestone for AFS and its clients.
Release 8.3 of the AFS Loan Accounting System uses an integrated lending platform to transcend banks' departmental boundaries to process any type of loan, from a consumer installment loan to a complex, syndicated credit—all on the same platform. In bringing its unique advantages to banks, Release 8.3:
Allows users to leverage investments in core processing by using the Level III Loan Accounting System for all asset types.
Reduces costs by eliminating special systems and the overhead and support associated with them.
Enables users to better manage risk and monitor total customer exposure by being a single accounting system for processing all loan types.
Ensures compliance with the Basel II Accord, through the addition of a multitude of additional data fields and other feature enhancements. Release 8.3 is also the baseline configuration for all future regulatory enhancements, with no retrofit options planned for prior releases.
Click on the pie chart below to learn more about Release 8.3.
Conversion Service
To assist banks in making the move to Release 8.3 of Level III, AFS has developed an accompanying service offering. AFS will utilize its Professional Services staff to analyze the bank's use of Level III, and replicate that environment at AFS for the purpose of migrating the existing portfolios to the new release. This service will reduce custom code and bring Release 8.3 into production faster.
