Key facts
- ACES Population Testing evaluates loan origination pipelines and servicing portfolios against financial institution policies.
- The tool identifies records that warrant further review.
- Lenders can select loan populations and policies for testing across compliance, operational, and data quality requirements.
- Testing can be applied to pre-funding, post-closing, and servicing reviews.
- Results provide a pass or fail for each policy and record, compiled into an overall quality score.
- The technology is based on data quality capabilities acquired through the purchase of BaseCap Analytics.
ACES Quality Management announced on Monday the launch of its new tool, ACES Population Testing. This technology is designed to scrutinize loan origination pipelines and servicing portfolios, comparing them against a financial institution’s established policies to pinpoint records that require additional examination.
The tool empowers lenders to select specific loan populations and the policies they wish to test, covering compliance, operational, and data quality requirements. These reviews can be conducted at various stages, including pre-funding, post-closing, and during servicing.
Financial institutions have the option to create their own bespoke policies or utilize ACES Managed Policies, a pre-vetted library of compliance-focused policies developed by ACES. The ACES Population Testing system then runs these selected policies against every record within a chosen population, delivering a pass or fail outcome for each policy and record. These results are aggregated to generate an overall quality score displayed on the platform’s dashboard.
"The engine underneath ACES Population Testing has been running in production at financial institutions for years," Trevor Gauthier, CEO of ACES Quality Management, stated. "By bringing it under the ACES umbrella, it now becomes the natural complement to our audit technology, directing our clients’ teams to the records that matter most for targeted, human-driven investigation."
ACES stated that the technology leverages data quality capabilities obtained through its acquisition of BaseCap Analytics and is already in use by financial institutions. ACES Population Testing is intended to supplement traditional sampling methods by identifying records that might otherwise be overlooked in a standard sample, flagging them for further review. Auditors can then utilize ACES Quality Management & Control software to examine these flagged records, identify defects, document findings, and initiate remediation processes.