TecBanc ®     Network Systems The Australian finance industry operates within a largely segregated and inefficient processing structure. Industry players utilise a range of processing tools, often developed in-house, which have little if any compatibility with outside processing systems. Often, a large institution operates more than one software system, which do not even talk to each other, let alone to outside systems. The TecBanc ® Network System (TNS) is a multi-level distribution and processing network system for the finance industry. The system operates in conjunction with TecBanc LoanSystems, a loans quotation and processing system. These systems are designed for use by all finance industry participants, from lenders with multiple branches to mortgage originators, brokers, advisers and introducers. The system is able to link valuers, solicitors, quantity surveyors, mortgage insurers, trustees, and all other associated professionals. Finance Business within the TNS is sourced from one of two categories: 1. Direct, or 2. Network Direct business may come from existing clients and contacts, advertising, direct marketing programmes etc. Direct business has its own direct or indirect cost to the recipient of the business. Network business is business directly introduced by others in a formal or informal business network. Formal network business often has a cost in the form of referral fees and/or commissions to business introducers. In this instance incomes are divided between those who find the business (Introducers), and those who do the work (Processors). Each participant joins their Network in a capacity appropriate to their role. Master Networks may adopt distribution percentages to suit their own commercial requirements. TecBanc ® offers no advice or warranties as to the commercial viability of any particular network structure. Within TecBanc ®, individual transactions may be tailored to suit particular fee sharing arrangements, or a standard may be applied to all transactions. TecBanc Licencees may access their records at any time, and view the status of transactions. They may also access Work In Progress reports, Status Reports by Percentage of Portfolio, and Commissions and Trails Reports. This enables all parties in a transaction, and within a network, to be up to date at all times, without the need for constant telephone communication. All network transactions are processed via the TecBanc ® master server, a computer located in Brisbane, Australia. This server is structured to ensure confidentiality is maintained on behalf of network members and associates, and to ensure data is processed and distributed in accordance with the TecBanc ® Network System. For providing this service, TecBanc ® receives a Network Fee equivalent to 5.00% of all gross income generated from business conducted through the network, as defined in the relevant network agreements.       1998-2002 Reid Robertson Holdings Pty Ltd | Copyright | Disclaimer | Privacy Policy