Teledata Communications, Inc. (TCI), the provider of DecisionLender 4 (DL4), a consumer loan origination platform, announced today that Greater Iowa Credit Union (GICU), has selected TCI’s DL4 platform for indirect, direct and online lending, as well as online account opening. Headquartered in Ames, Greater Iowa Credit Union has more than $512 million in assets, 33,000 members and operates eight branches.
The credit union completed an extensive vetting process, examining 10 loan origination and account opening providers before identifying the top three providers, and ultimately selecting TCI. With DecisionLender 4, GICU will be able to process, underwrite, close and fund loans efficiently within a single platform. The automated decisioning speeds the overall process, increasing process efficiency and enabling higher volumes of loans to be processed.
“For the past five years, we have strategically focused on implementing and leveraging modern technology solutions to ensure we not only operate efficiently, but also enhance the overall member experience,” said Neal Dietz, vice president of lending for GICU. “After carefully reviewing multiple platforms, TCI’s DecisionLender 4 was the only system that was robust enough to meet all of our current objectives, and provide the flexibility needed to enable future growth.”
The configurable design of DL4 will enable the credit union to determine workflows and then decide the level of control and automation preferred, all without adding IT or developer resources. Additionally, users can easily implement and update programs, rules and policies for each loan type – even deploying them the same day.
Dietz continued, “We want to make it as easy as possible for our members to do business with the credit union, and this includes providing the ability to complete transactions at a time and place that is most convenient for them. Implementing DL4 from TCI will provide our members even more flexibility, enabling them to complete transactions at a time and place that is most convenient to their schedules. This new platform will allow our employees to spend less time worrying about systems and procedures, and instead will be able to spend more time focusing on our members’ needs, having meaningful conversations about their financial goals.”
GICU is also deploying the DL4 account opening module to automate the traditionally manual, paper-based procedure, and provide members a frictionless experience and provide 24/7 account-opening capabilities. This module simplifies and streamlines the account opening experience, allowing members to “save” their progress, ensuring applications can be initiated, stopped, saved and restarted from any location and any device, either in the branch or online.
Bill Nass, president of TCI, said, “We are pleased to partner with such a forward-thinking credit union. GICU understands the significance of the digital branch and the importance of adapting their processes to provide their members a seamless experience. With DL4, the credit union can close more loans and open more accounts faster without sacrificing accuracy, and still maintaining the integrity of their unique lending requirements. Our solution allows Greater Iowa to reduce bottlenecks and complexities while ultimately enhancing the member experience.”
About Teledata Communications, Inc.
Founded in 1982, Teledata Communications, Inc (TCI) is the provider of DecisionLender 4, a consumer loan origination platform (LOS). DecisionLender 4 is completely configurable, hosted in the cloud, and supports branch, online lending, indirect auto and merchant lending, and deposit account opening. The robust decisioning engine is the most versatile on the market, enabling manual or automated workflows. With over 130+ different 3rd party integrations ranging from alternative data sources, to fraud protection, to esignature and more, DecisionLender 4 truly empowers you to do business YOUR WAY! www.tcicredit.com
About Greater Iowa Credit Union
Greater Iowa Credit Union is a member-owned, not-for-profit financial cooperative operating eight branch locations and serving more than 33,000 members throughout a 33-county area in central and western Iowa. The credit union offers a full range of financial services at branches in Ames, Greater Des Moines, Indianola, Waukee and Denison. For more information, visit www.greateriowacu.org.
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