Equifax Enabling Technologies Launches APPRO Business to Transform Business Loan Automation

Equifax Inc. today introduced APPRO Businesss™, a Web-based loan origination system for business lenders. Built on Microsoft® .NET architecture, the solution brings powerful automated loan decisioning capabilities to a broad market, ranging from sophisticated commercial and small business lenders to credit unions and other financial institutions.

APPRO Business enables customers to automate business loans — from data acquisition and decisioning through a range of post-approval functions, including funding, documentation and reporting. APPRO Business customers gain access to a vast network of expertise and an extensive library of decisioning rules built over the last 26 years by APPRO Systems Inc., which was acquired by Equifax in 2005. Custom interfaces also are available to connect the solution’s comprehensive functionality with credit reporting data, analytics, and other data resources available from Equifax or other data providers.

“APPRO Business is the result of our development team working closely with customers, consultants, partners and pilot-site users to develop a solution that would enable lenders to speed time-to-market, increase productivity and gain an edge in today’s marketplace,” said Steve Uffman, group executive, Equifax Enabling Technologies. “The solution combines the power of our technology and loan origination expertise to empower lenders by simplifying and transforming the way they do business.”

Designed for rapid adaptation to user needs, APPRO Business minimizes the total cost of ownership for customers. With Microsoft’s .NET platform as the foundation of its Web service-based connectivity, this new solution reduces the costs and complexity of implementation, deployment, and connectivity with partner applications.

The use of .NET technology enables Equifax customers to easily deploy and use customized Internet-based lending solutions. With APPRO Business, customers can:

• Expedite processing of business loan applications
• Quickly analyze and review loan applications
• Render automatic decisions
• Prepare necessary loan packages for committee approval

Another key advantage of APPRO Business is that it enables clients to rapidly configure the solution to their changing requirements. Unlike other commercial lending systems, APPRO Business provides client-configurable functions such as data entry screen design, decisioning rules, workflow, post- approval processes and user access rights. This unique capability enables customers to customize these functions and improve their loan portfolio, while saving them time and money.