United Community Banks Inc. has deployed CompenSafe to automate loan originator and processor commissions.

The community bank has been using CompenSafe to automate commissions for its 80 loan officers and loan processors in an efficient, compliant manner since August. CompenSafe’s built-in integrations with the bank’s payroll provider and Ellie Mae Encompass loan origination system helped make the bank’s transition away from spreadsheets fairly straightforward.

“Before CompenSafe, our commissions process was arduous and ate up a lot of man-hours,” said Mike Davies, president of United Community. “We wanted a more efficient process, something that would stand up to audits and that could be monitored, managed and scaled for growth. (CompenSafe) simplified the commissions process and given our HR, accounting and audit departments a high degree of confidence that everything is done with exactness and thoroughly documented.”

United Community gained the flexibility to control its own compensation schedules, including the ability to specify multiple key-performance indicators and payout tiers. For example, while the bank’s loan originators earn commissions based on the number and volume of loans closed, its processors receive a bonus based on speed and quality metrics. Commission projections are automated in CompenSafe as loans close and are available to loan originators and processors on-demand to help motivate performance.

“CompenSafe helps producers stay motivated and banks can say goodbye to manual, spreadsheet-driven processes without missing a beat when it comes to maintaining a compliant audit trail,” said Lori Brewer, CEO of LBA Ware.