Portfolio Management and Financial Services

Mined System’s “Genesis®” was developed for the financial services industry as a total portfolio management systems enabling clients to track and measure performance results and ROI of consumer, mortgage accounts and other accounts within a single, closed and secure system.  Genesis® includes financial processes and workflows to address action steps and tasks to be performed by portfolio managers from the early stages of current accounts through delinquency and late stage collections, write-off, or foreclosure.  

The system was developed for two reasons:

  1.  To assist asset purchasers and sellers
  2.  To assist businesses with communications within a secure system

First, to assist asset sellers and buyers in tracking purchased accounts, purchase pricing and downstream performance as accounts are assigned to agencies and law firms. The portfolio management components track information on loans or accounts as they occur.  For example, for a real estate account, expenses such as appraisals or taxes can be tracked, and payment information is imported from the AR account and tracked at the account level.  When accounts are sold, a full accounting from the purchases basis and including all credits and expenses on the account roll up to provide the profitability of the sale.  The system manages accounts by portfolio, seller, buyer or another category.

Second, Genesis® assists law firms, medical offices, and other businesses in managing and tracking customer accounts, sales, and services. Medical and dental offices, for example, have a structured process.  The client or customer has an appointment, sees the doctor, receives services and pays on their account.  Genesis has pre-built fields for categorical expenses and tracks the outstanding amount due for the customer.  It also permits data entry, tracking, workflow, approvals and financial transactions.  From a “practice office” perspective, Genesis® goes beyond a typical AR system to send reminders to customers, track appointments, track month-end revenue, and expenses, sends campaign emails for announcements of new products or office expansions.  More importantly, it tracks past due accounts, which can be automatically and securely referred to an AR specialist.

Because customers are also “consumers”, especially in the fields or law or medical or health care, there is a significant need for privacy and adherence to federal regulations.  Genesis® accounts for these at both the portfolio management level and the business office level.  For structured payment and insurance transaction, doctors and lawyers may track treatment, care plans, and expenses at the customer level and pass data files electronically within a “closed private cloud” instance.  This MSI method is superior to other delivery methods for speed, accuracy, completeness and privacy and security.