AmSouth is one of the largest regional banks in the United States. The Mortgage division at AmSouth has an application that was recently developed by a third party that manages mortgage drafts. The primary purpose of the application is to facilitate the funding of mortgage closings. Due to recent accounting and process changes, the application must be enhanced from its current state. There are two primary drivers for enhancing Drafts:
· Currently, AmSouth uses a zero balance accounting method to fund closings. A new process is being put in place that will fund the closings at issuance with the use of IPS. IPS allows AmSouth to receive gains in efficiency without losing the monetary benefits of the zero balance accounting method.
· The accounting process at AmSouth is evolving and greater flexibility is required in order to perform tasks such as changing account numbers and cost centers. AmSouth is looking for CTS to document the enhancements, convert the existing application to VB.NET, and implement the new features.
Financial Services Draft Project has not been reviewed by any customers.
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