First in Industry Solution Streamlines Entire Credit Union Loan Document Process
Atlanta (April 14, 2011)
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CRIF Lending Solutions today announced the launch of an industry-first solution that gives credit unions a new way to leverage critical information for consumer and business lending. Now, credit unions can benefit from an interface that connects the CRIF ACTion loan and account origination solution, CUNA Mutual Group's LOANLINER® Document Web Service and IMM's electronic signature solution. With this interface, credit unions can quickly access, deliver and eSign the most up-to-date, compliant loan documents, enabling them to address key compliance needs, reduce processing times and deepen customer relationships from any channel.

A fully-automated solution, CRIF ACTion provides simplified loan and account origination by using one system for all account opening, business and consumer loan origination needs. CUNA Mutual's Document Web Service is an application service provider (ASP) solution that offers credit unions a centralized way to manage compliance documents and information to support all of their business and consumer lending efforts. Integrated Media Management's electronic signature and document delivery solution automates the document signing process in-branch or remotely via the web and delivers indexed, encrypted and signed documents to a host of imaging systems. Leveraging all three of these industry-leading solutions through a seamless interface helps credit unions ensure that they are using the appropriate documents for each loan product, streamlining the signing process and eliminating the need for manual transfer of documents. Key features of the new interface include:

 

  • Data integration – Allows borrower and collateral data to be seamlessly transmitted from CRIF ACTion to the Document Web Service for processing of compliant documents. Instead of manually re-entering application data, lenders can automatically select and pre-populate the right loan documents with accurate information.
  • Automated document selection – Uses criteria such as product requirements, loan parameters and the number of borrowers to not only reduce the likelihood of errors, but to help ensure a credit union's compliance with key industry regulations.
  • Electronic Signature Support – Integrated Media Management® (IMM), a document output management and automation technology provider, allows LOANLINER® documents to be securely viewed and signed electronically by credit union members 24/7, anywhere, anytime.

The integration creates a new level of convenience and member service for these credit unions using CRIF ACTion, LOANLINER®documents and IMM eSignature, as members can now complete loan application documents from home or any location at any time.

The interface to CUNA Mutual's LOANLINER®Document Web Service and IMM is the latest addition to CRIF Lending Solutions. CRIF ACTion, a loan and account origination platform that combines the best features of the APPRO and Teres lending systems together in a single solution.The new platform gives banks and credit unions a comprehensive way to manage and automate all of their consumer, business and account opening processes. This includes support for home equity and indirect auto loans, merchant lending, credit cards and account opening for deposit accounts. The CRIF ACTion platform was built by combining 30 years of experience and technology expertise in the loan origination technology space and ongoing feedback from hundreds of clients.For more information, or to register for our April 21 webinar and a demo of the three systems working together, visit www.criflendingsolutions.com.

About CRIF Lending Solutions
CRIF Lending Solutions, comprising Aimbridge, APPRO, FLS, Magnum and TERES, supports over 500 of the most successful large and small U.S. banks, credit unions, credit card processing and financial institutions. Our complete suite of solutions increases productivity and profitability and are core system and data provider independent. These comprehensive offerings include loan origination systems for consumer, business, and point of sale lending as well as business process outsourcing for indirect lending, data aggregation, analytics and account opening. With over $100 million dollars in equity, CRIF Lending Solutions is part of CRIF, a global company specializing in the development and management of decision support systems worldwide.

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