TCI Announces 10 More Credit Unions to Implement DecisionLender

Teledata Communications, Inc. (TCI), a leading provider of Internet-based indirect lending solutions for lending institutions, has announced that since the start of 2006, ten credit unions have contracted to implement TCI’s DecisionLender.

Underwriting loans utilizing TCI’s DecisionLender software, an automated, web-based loan origination and application processing solution for credit unions, is easier and more affordable than ever. Whether you’re a credit union with $100 million in assets or $4 billion in assets, DecisionLender from TCI is a robust, flexible, scalable loan origination solution that will reduce your loan processing costs and increase your loan volume.

DecisionLender completely automates the indirect loan origination workflow process and coupled with its connections to auto portals DealerTrack and RouteOne, loans can now be processed faster than ever. “Your car dealers will be amazed at your response time,” stated Bill Nass, president of TCI. “Internet-based, incredibly affordable and fully featured, we believe that DecisionLender is the type of solution that is the future of indirect lending. We thank our new credit union customers for embracing our solution and look forward to growing with our new partners.”

Clint Bramlett, Vice President of lending for Charter Oak FCU says, “For the last several years my staff and I have been discussing the evolution occurring in the indirect auto lending channel. Our current vendor was forcing us to go in the direction of a managed solution but we wanted to stay independent. We felt strongly that a connection to DealerTrack was a must, as that’s where the action is. We needed a new loan origination solution to stay competitive in this evolving marketplace, but we couldn’t find an affordable, fully-featured solution. We had already decided to sign with another service provider when we saw the live Webex of TCI’s DecisionLender, we were impressed enough that we changed our mind and decided to go with the TCI product. With its high-performance – ease of use, terrific reports, a DealerTrack/RouteOne connection and a Symitar interface – it was our best and most logical choice. And because it’s an ASP solution, deployment is easy. We expect to be live six weeks after contract signing, that’s terrific performance!”

DecisionLender is considered one of the industry’s most comprehensive automated loan origination, processing and decisioning solutions. It can accept loan applications from any indirect sales channel such as the auto portals, an RV dealer or a boat dealer. The system’s fax interface provides a communication path for indirect channels that still utilize the fax. Upon receiving a loan application, DecisionLender automatically prepares the file for a credit analyst’s review by retrieving credit and product-related valuation data, calculating loan ratios and evaluating risk against the lending institution?s specific criteria. In addition, DecisionLender can apply a lending institution’s unique decisioning rules and parameters to any loan application it processes, thus assuring that the lending institution adheres to its best lending practices.

As a web-based solution, DecisionLender is extremely flexible and cost-effective. It requires just a basic set-up charge and is available to customers on a pay-per-use basis, enabling lenders to manage their resources more effectively. See our live Webex demo and experience how DecisionLender can make your life easier and more profitable, while increasing your member satisfaction. Isn’t that what credit unions are all about, member service?