Sanchez Computer Associates has acquired the assets of Virginia-based Equidity Inc., which include the company's Java-based, online credit origination software. Financial terms were not disclosed.
Sanchez says it will incorporate the new credit origination technology into its integrated banking platform, for its Webclient, WebCSR and Xpress products.
The new J2EE-compliant integrated solution is designed to Web-enable and automate the entire loan application process, including instant credit decisioning, interfaces to a network of national credit scoring agencies and an underwriting routing and referral engine that considers credit scores and risk as it fulfills credit requests, says the company.
Frank Sanchez, CEO of Sanchez, says: "The purchase of this technology will enable us to incorporate real-time loan and other account origination capabilities quickly - including auto decisioning and credit scoring - into our integrated banking platform."