ISLANDIA, N.Y. – Teledata Communications Inc. (TCI), a provider of cloud-based loan origination solutions, announced that Credit Union Acceptance Corp. (CUAC), a CUSO, has deployed its cloud-based DecisionLender 4 loan origination system (LOS) to process auto loan applications for its national network of credit unions.
“The deployment of DecisionLender 4 marks a bold step forward in helping CUAC member organizations continue their success in the automobile lending sector,” explained Kurt Howard, executive vice president of CUAC, in a statement. “Credit unions all over the country are facing pressure to process and underwrite loans more quickly, accurately, and compliantly. The flexibility, reliability, and ease-of-use built into DecisionLender 4 far surpasses any loan origination system in the industry, and gives our credit unions a competitive edge in their respective markets.”
DecisionLender 4 is a cloud-based loan origination platform that serves credit unions, banks, finance companies and online providers. It provides unparalleled flexibility for customizing loan origination processes, enabling financial institutions to create and adjust lending rules, parameters, application fields and workflows without requiring expensive and time-consuming IT resources. DecisionLender 4 also provides comprehensive analytics that gives lenders visibility into a number of key metrics to assess and revise their lending operations in real-time. Through this high level of customization, financial institutions become more proactive and agile in creating and augmenting lending programs, TCI said.
CUAC said it is leveraging a number of DecisionLender 4’s unique attributes to assist its credit unions. Among these include an innovative messaging tool that facilitates real-time communication and document-sharing between CUAC, its credit union members, and any sub lender that may be part of a specific deal.
Howard also cited DecisionLender 4’s documentation and image uploading capability as an essential attribute, estimating that this feature will save CUAC tens of thousands of dollars over the course of the year. In addition, the system connects CUAC credit unions with auto finance portals DealerTrack and RouteOne, further enhancing lending opportunities for credit unions.