Breanna Core and the team at Inyo-Mono Title Company use SoftPro Banking to save time, increase security, and better serve their customers. We chatted with Breanna about the challenges she faced before using SoftPro Banking and the results of utilizing SoftPro Banking along with their SoftPro Select software.
What is SoftPro Banking?
The SoftPro Banking platform in SoftPro Select allows users to securely send and receive wire transfers from a network of integrated banks in the United States. With SoftPro Banking, users can seamlessly receipt incoming wires to the appropriate ledger. The platform also allows for the initiation of wire transactions directly from SoftPro Select and, upon appropriate internal approvals, have those requests securely sent to the participating banks for processing. A SoftPro Banking user can search incoming wires by numerous fields including the trust account, received date, amount, status, federal reference number, ledger ID, amount, and status, where they can then perform actions such as approving or rejecting the transaction. SoftPro Banking’s sophisticated security permissions allow for the designation of specific users as “approvers” for outgoing wires in addition to approval limits for those designated approvers.
The Challenges without SoftPro Banking
Breanna shared that, before utilizing SoftPro Banking, processing wire transfers required the tedious rekeying of data, making more work for the Inyo-Mono team. "Accounting had to manually go to the bank website to input wire information that escrow had already input into the SoftPro system," Breanna explained. In addition to rekeying, the team also had to spend valuable time triple-checking to ensure that data was entered correctly. "It was extremely time-consuming, not to mention opened up a lot of room for human error," she adds.
The Solution with SoftPro Banking
Utilizing SoftPro Banking has allowed the Inyo-Mono team to automate the wire transfer process and free up their escrow team's time. "SoftPro Banking has saved us an incredible amount of time by pushing banking information to the bank with no need to re-enter it," explained Breanna. She adds that "perhaps the best part is how much safer it is" due to the lack of potential for miskeyed information.
The Results for Inyo-Mono Title Company
For the team at Inyo-Mono, utilizing SoftPro Banking has been a game-changer that made a significant impact on their overall workflow. "We were able to achieve error reduction and time savings in cutting the information input in half," Breanna shared. "This makes us more efficient and gives the team the security they need when sending wires out." Utilizing SoftPro Banking has freed up time and mental energy for Breanna and her team to focus on serving their customers more efficiently. When asked to share her final thoughts, Breanna summed things up by stating "SoftPro Banking has changed our company for the better. I cannot say enough good things about [it]."
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