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Does Your FI’s Loan Origination System Need a System Administrator?

Posted by Yelena Kolesnik | Wed, Sep 04,2019 @ 05:56 PM

Several months ago, I started receiving appointment reminders for various spa services that I did not schedule. I have been at this spa previously but was certain I hadn’t booked anything in the near or distant future. The first two reminders I politely called to notify them of their mistake. I felt the messages I left were clear and concise with enough information provided to correct the error.

However, when the third reminder came two days later, I became more than slightly annoyed. This time I made sure my conversation was now with a live receptionist and was much more direct and to the point. I requested that all my contact information be removed from their database. I didn’t hang up until she confirmed that it complete.  And, to be quite honest, I could have used a good neck and head massage afterward to relieve the tension the ordeal had caused me.  

Automations are great and create a lot of efficiencies, but they need to be managed. Your automated processes require consistent review and auditing to regulate and keep them current. Loan origination systems are excellent examples of just this fact. They are mission critical to successful loan programs with a plethora of automated features, functionality, options, and third-party integrations and data mappings, and testing that need to be regularly maintained. Welcome to the world of the System Administrator.

 

What are the responsibilities of a System Administrator?

A system administrator represents the centralized point of maintenance and communication around the loan origination process, which is an absolutely crucial role within every financial institution.  A system administrator will typically:

  • Interact with different stakeholders and systems involved with the origination process
  • Create new products/services within the system
  • Test performance
  • Configure changes
  • Perform addition day-to-day task surrounding the loan origination system

The Importance of having System Administrator

Once the implementation of a new system is complete, the institution’s management may often feel that the system administrator role is no longer needed. This misconception typically leads to situations where multiple people make changes within the system without properly documenting them and without a holistic view. This will lead to a less-than-optimal system that will lead to substandard process efficiency.

Opportunities to enhance the experience can also go unknown without a vigilant administrator. The most successful system administrators keep themselves aware of enhancements as well as consistently review operations for improvement opportunities.

 

MLX Consulting’s System Administrator Solution: Admin Pro

Admin Pro allows financial institutions to leverage the MLX Consulting team to perform system administration duties for MeridianLink’s LoansPQ LOS and XpressAccounts platform on your behalf. To take a more in depth look at the system administrator role and how Admin Pro can help your organization refresh and optimize your current system configurations, create continuous improvement, and ensure that your organization is utilizing the system to the fullest download, our ebook.

Download Ebook

Photo by Helloquence on Unsplash

Topics: Loan Origination Software, loan origination system, system administration