Anheuser-Busch Employees' Credit Union Selects IA Systems' StreamLend(R) Velocity; .NET Architecture Design, Hosted ASP Environment to Meet Credit Union's Changing Needs.WASHINGTON -- IA Systems, a provider of lending software and services for credit unions, banks and other financial institutions, announced at the 2006 Governmental Affairs Conference that St. Louis-based Anheuser-Busch Employees' Credit Union (ABECU ABECU Anheuser-Busch Employees' Credit Union ) has selected StreamLend Velocity to automate and accelerate its lending operations for consumer indirect, and home equity loans. StreamLend Velocity, a customizable, paperless loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. system, automates the entire lending process and streamlines everything from processing and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. to funding and closing by using next-generation, browser-based tools and design. ABECU has opted to use IA Systems' new application service provider (ASP) facility, a low-cost entry option that eliminates the need for on-site installation and maintenance, and provides superior disaster recovery support. ABECU, a 27-branch, $810 million credit union, decided to partner with IA Systems because its previous loan processing technology did not have the functionality necessary to meet the institution's growing loan demand. "We researched several leading providers of loan origination systems to ensure that the system we selected offered the most advanced functionality to meet our members' needs while still being able to give them the highest level of service," said Emerson Smith, vice president of branch operations at ABECU. "StreamLend Velocity was the only solution we found that provides true Web-browser capabilities in an ASP environment. It offers superior underwriting capabilities with seamless interfaces to third-party applications and without updates to desktop PCs, or any other unnecessary steps. IA Systems' industry advancements enable ABECU to offer our members faster loan turn-around time; the hosted ASP option allows us to do all this with minimum IT responsibilities on our part." IA Systems' ASP facility offers superior disaster recovery and business continuity solutions, at a cost much lower than a financial institution could provide with an in-house installation. The hosting facility also provides the high-quality, broadband infrastructure to support an institution's rapid growth. IA Systems strategically hires IT professionals with substantial experience in lending operations to work in its operations center The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. , which allows clients to work with partners who understand their industry and are cognizant cog·ni·zant adj. Fully informed; conscious. See Synonyms at aware. [From cognizance.] Adj. 1. of the security issues facing today's market. "Anheuser-Busch Employees' Credit Union is a recognized leader in the delivery of multiple financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. ," said Chris Cazer, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of IA Systems. "Selecting StreamLend Velocity and using our ASP will not only provide the credit union with enhanced loan products and services, but will also protect its business continuity and secure its sensitive customer data. We look forward to helping ABECU meet and exceed its business goals by providing advanced technology and the highest level of client service throughout our relationship." ABECU recently had six employees attend a StreamLend Velocity training session at the IA Systems' facility to learn about the operations. The credit union is schedule to "go live" with the product in the beginning of Q2 of 2006. About IA Systems Since 1991, IA Systems has developed technology to streamline business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets for credit unions, banks, and other financial institutions. In 2000, St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.-based Securian Financial Group purchased IA Systems, providing the backing of a parent company with $26 billion in assets. Securian is one of the nation's largest independent distributors of insurance and protection services for financial institutions. IA Systems' flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , StreamLend Velocity, is a paperless, end-to-end loan origination system that simplifies, automates, and accelerates the lending process using next-generation tools such as a user-centric browser interface, configurable workflow, and modular software See modular programming. design. The powerful and flexible tools of StreamLend Velocity automate workflow, speed credit and loan decisioning, integrate sales channels, and manage risk for financial institutions, while decreasing operational costs and increasing loan processing efficiencies. For more information about IA Systems and its products and services, visit the company's Web site at www.IASystems.com, write 500 New Karner Road, Albany, N.Y. 12205, or call 800.803.7554 ext. 279. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : The correct usage of the product name is: "StreamLend Velocity" with only the first, or most prominent, usage containing the Registration symbol following StreamLend; with "StreamLend" as one word; with the "L" capitalized; and with "Velocity" in italics. |
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