Dollar Bank Converts Lease Portfolio

Dollar Bank Converts Lease Portfolio

 

 

CLIENT: Dollar Bank
With assets of $5.8 billion, Dollar Bank is the largest independent mutual bank in the United States. For 155 years, Dollar Bank has grown to become a full-service, regional bank operating more than 60 branch offices and loan centers throughout the Pittsburgh and Cleveland metropolitan areas.

NEED: Lease Portfolio Conversion
Dollar Bank needed to convert a portfolio of leases from an existing legacy system. The portfolio consisted of equipment and truck/auto leases for locations in Ohio and Pennsylvania. Their processing needs were rather unique and included requirements such as collection and distribution of use taxes.

SOLUTION: Shaw’s COMMERCIALTM System
Shaw Systems’ COMMERCIAL Product Team worked closely with Shaw Resource Solutions to accommodate Dollar Bank by mapping conversion records using the Conversion Subsystem, modifying Escrow Processing to collect and automatically distribute Use Tax, and customizing complex Scripted Data Entry scripts for processing new leases and lease payments.

RESULT: Conversion was a success!
Dollar Bank successfully converted the lease portfolio to Shaw COMMERCIAL. “Everything went well,” says Tim Potosnak, AVP of Systems and Programming at Dollar Bank.

 

“The conversion was a success.  We appreciate the time and effort Shaw spent in helping us through this project.”  – Deanne Powlowsky, AVP, Commercial Loan Operations