TBK Bank uses Collateral360® to optimize the appraisal process and increase company-wide productivity

TBK Bank was managing the appraisal process manually and had to outsource much of the work, which was time-consuming and inefficient.

TBK Bank uses Collateral360 to manage all of their property due diligence from a single dashboard, including appraisal procurement, environmental investigations, collateral site inspections, tax monitoring, and more.

• Efficient workflow: End-to-end appraisal process on one platform removes departmental barriers, and promotes easier collaboration.

• Increase productivity: Teams work smarter and faster without having to outsource.

• Quick ROI: User-friendly interface and top-notch training ensures quick results.

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Success Story

Over 1,100 banks and lenders rely on LightBox and Collateral360 to improve their workflow by consolidating disparate process into one collaborative workspace.

To learn more about how our lender solutions can help your organization, visit lightboxre.com/collateral360.

TBK Bank offers consumer and commercial banking products at 61 branches throughout the U.S. Appraisal Department Manager Gail Payne explains why she relies on Collateral360 to optimize TBK’s appraisal process.

Streamlined appraisal workflow

Prior to using Collateral360, TBK’s appraisal process was done via email to get bids and information from lenders. Data was entered manually into spreadsheets for the appraisal department to track and manage.

“Collateral360 has made everything so much better,” Payne said. “We worked with our sales rep to make sure we had it set up exactly how we wanted it. Working with EDR to get it exactly how we wanted it and prevent all that from happening has been amazing.”

Increased productivity translates to more appraisals completed

The shift from manually processing appraisals to using Collateral360 has enabled Panye and her team to get far more accomplished.

“Because we’re now managing people in different states, we need to have a better way of tracking our staff and productivity, and Collateral360 has made that very easy for me,” she said.

User friendly for quick ROI

In the first nine months after implementing Collateral360, TBK Bank was able to handle a 13% increase in appraisals — or approximately 37% per 2.5 employees.

And, in addition to experiencing a quicker appraisal process, Collateral360 also enables TBK Bank to keep all of its information and processes in house. “The ease of the platform is amazing and it was almost like getting a full-time employee when we got Collateral360,” Payne said.

TBK Bank is Poised for Growth Using Collateral360 to manage the appraisal process