Adam Moua and Kevin Hamilton from the FINPACK Support Team answer some frequently asked FINPACK questions.
Does everyone in our bank have access to FINPACK Online Training?
Kevin: “The answer is ‘yes’. Under the FINPACK system-wide license, every employee at your bank, credit union or other lending institution has access to the system. FINPACK+ users can access the training via the drop-down menu by their name-plate in the top-right corner of their personal dashboard when they log in. If your bank has the installed version of FINPACK, each employee simply has to register using the serial number which you can find under the ‘About’ menu in FINPACK. You can find a more detailed breakdown of how to access online training here.”
What training options are there for new employees using FINPACK?
Adam: I’d start with online training. Have the user access the training site, then take some time to watch the overview videos before diving into the more detailed sections. There are three main sections — Ag and Commercial of course, then a section for FINPACK+. Each section has an ‘Introduction’ section followed by detailed videos on every component of FINPACK. We also offer in-person training at least twice a year, usually in May and October. It’s onsite here at the University of Minnesota campus, and runs over two days. The nice thing about it is the trainers are part of the same team who created FINPACK. The next training session is May 21-22. And of course, if you’re new to FINPACK and have questions, you can always reach out to us and we’re happy to help.
How often is FINPACK updated? Do I need to check for updates?
Kevin: FINPACK has at least one and sometimes two major upgrades each year, the main one coming in November. Then there are multiple incremental updates that happen throughout the year. If you’re using FINPACK+, all these updates are applied automatically, so you don’t have to do anything to keep the software up to date. If you’re using FINPACK installed, you do need to install the updates. The December update is mandatory, and you’ll receive an email in advance letting you know you need to install. For other updates, it’s usually a good idea to check periodically to be sure you haven’t missed anything. In FINPACK, simply go to ‘Help’, then ‘Software Updates’, then ‘Check for Updates’.
We want to customize our loan presentation template. Do we do that ourselves or can you help?
Adam: You have both options. For any of the customization options in FINPACK, whether that’s Risk Rating models, Credit Decision Scorecards, or of course loan presentations, you can either do those yourself or reach out to us and we can work with you to get those done. With Risk Rating models and Loan Presentation templates, it’s often easier to have us do it since it can usually be completed faster that way.
I have a customer with a huge machinery and equipment list. Do I have to enter that manually into the balance sheet?
Kevin: For those kinds of detail, you have the option to import (or export, in fact) from a .csv file. That process — along with a lot of other detailed instructions on various tasks in FINPACK — is detailed in our Knowledge Base. You can find that process here, and access the Knowledge Base via the FINPACK website, or in FINPACK itself, click on HELP, then FINPACK Knowledge Base.
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