Texans Credit Union manages lending programmes with IA Systems

Source: IA Systems

IA Systems, a provider of lending software and services to credit unions, banks, and other financial institutions, announced that $1.7 billion Texans Credit Union selected StreamLend Velocity to support its direct and indirect lending programs.

The 31-branch, 160,000-member credit union selected StreamLend Velocity largely because its highly customizable structure will allow Texans to meet the lending needs of a growing branch network and its open software architecture allows for greater compatibility with other market products. The loan processing solution is scheduled to replace the credit union's current custom-built, in-house system in October 2006.

"We believe that StreamLend Velocity is able to offer more than our current custom-built system and will better support our lending operations," said John Kurtz, VP of Retail Lending at Texans Credit Union. "We anticipate StreamLend Velocity will be easy to use and very user friendly. Moreover, the flow of the loan application through its journey is smooth and seamless. We expect the product to improve all channels of lending, thus benefiting our credit union members."

According to Kurtz, it was StreamLend Velocity's high level of customizable lending technology, wrapped around a user-friendly interface, that most impressed Texans with IA's product.

StreamLend Velocity's highly configurable workflow engine enables users to adapt the system to meet varying needs for either centralized or decentralized lending branch networks. It can assign loan applications to specific loan officers, by type of loan or by volume, depending on the criteria set. Additionally, the solution's .NET and XML architecture allows it to seamlessly integrate with all major core data processors, and offer dozens of interfaces to third-party applications.

"Texans Credit Union's steady growth positions it to take full advantage of StreamLend Velocity's power and efficiency," said Chris Cazer, COO of IA Systems. "The solution will equip everyone from front-line employees to senior executives with the tools necessary to fund more loans to more borrowers, and to do so with enhanced efficiency and at a reduced cost of ownership. The open architecture and many customizable aspects of StreamLend Velocity give Texans the control it had with its custom-built solution, while offering extended power to support the credit union through its growth."

StreamLend Velocity also offers advanced security, auditing, and compliance tools that allow lenders to protect their borrowers and keep their data safe. The solution is constantly updated to ensure that financial institutions maintain compliance with all state and federal regulations, including enhanced Reg. B, the USPATRIOT Act and OFAC, among others.

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