Further enables lenders to restrict access to sensitive accounting data
IRVINE, Calif., Nov. 10, 2008 – Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced the addition of a new feature to Advantage Systems’ Accounting for Mortgage Bankers (AMB), an accounting solution designed specifically for mortgage bankers, that enables users to limit access to individual bank accounts.
By securing access to bank accounts, AMB now enables branch users to manage their own checking accounts within the system. The organization benefits by distributing that labor burden while at the same time capturing the necessary accounting data relative to the branch.
Additional benefits of this security feature enhancement include greater overall security of the check writing process and prevention of errors associated with users selecting the incorrect bank account when printing or voiding checks.
The enhancement provides managers within the mortgage industry with the ability to safely and securely enable branch users to print their own bank-related reports, such as cash disbursement and cash receipt reports, since each user is only able to report on banks to which he or she has been granted access. Senior management also has the ability through AMB to better control access to money market and other high dollar or sensitive accounts.
“Many accounting systems control the access to the function to write checks rather than the specific bank involved, leaving the company vulnerable to the risk that sensitive information can be seen by the wrong people,” said Brian Lynch, president of Advantage Systems. “ AMB takes security to the next level by enabling management to decide which users have access to each bank account.”
AMB is an accounting system that was specifically designed for mortgage bankers to provide loan-level detail of accounting transactions. The system provides general ledger, accounts payable and report writing capabilities. A Web-based reporting module is also available for branch managers along with a module to calculate commissions, bonuses and overrides.
CONTACT: Sarah Cannon
Media contact for Advantage Systems