San Antonio Federal Credit Union Selects APPRO Systems for Loan Automation Needs.Business Editors
BATON ROUGE Baton Rouge (băt`ən rzh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--Nov. 29, 2001
Credit union to implement automated loan decisioning
with LoanCenter(TM) software
APPRO Systems, Inc., the leading provider of automated credit risk management and financial technologies for the lending industry, today announced that San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. Federal Credit Union (SACU SACU Southern African Customs Union
SACU Stand-Alone Digital Communications Unit
SACU Scanner Air Conditioning Unit ) will implement its LoanCenter(TM) automated loan processing system through an application service provider (ASP) model.
SACU will be the first credit union to implement new APPRO software tools that integrate LoanCenter with the EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. Flagship Premier product, a loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. system used by many credit unions throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The 250,000-member, $1.4 billion credit union will utilize APPRO's LoanCenter for all loans, from home equity to indirect car loans.
SACU chose LoanCenter because of its automated credit decisioning capabilities and its Internet connectivity. The credit union now has the ability to build dynamic decisioning matrixes that enable the credit union to "fine tune" each product and offering. APPRO's automated decisioning engines allow for cross-selling and up-selling opportunities at the point-of-member contact. As a result, members will now be able to apply for a loan and receive instant approval.
"We feel that because of LoanCenter's robustness, we can make better automated decisions with this system versus any other system we considered," said Chuck Smith Chuck Smith may refer to any of the following:
The credit union also plans on utilizing the system to enhance its loan originations through indirect channels, such as car dealerships and other retailers, to increase market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market
penetration - the act of entering into or through something; "the penetration of upper management by women" and loan volume without a significant increase in overhead. Through these indirect channels, members will be able to secure immediate loans for large ticket item purchases at the point-of-sale.
"At APPRO, we pride ourselves on continually working to improve our products and services and that is why we have been an industry leader for more than 20 years," said Steve Uffman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of APPRO Systems, Inc. "San Antonio Federal Credit Union has discovered that through LoanCenter, credit unions can vastly improve their loan volume while, at the same time, enhancing the service they provide to members."
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. company officials, APPRO plans to make available the EDS interface to all existing and future customers.
About San Antonio Federal Credit Union
SACU is a $1.4 billion credit union, with 16 branches in San Antonio and two branches in Houston. The credit union provides convenience to members through a network of more than 100 ATM locations in the greater San Antonio area. The credit union also provides benefits to members through higher yields on savings, lower loan rates, and reasonably priced 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. .
About APPRO Systems, Inc.
APPRO Systems, Inc. is the lending industry's leading provider of comprehensive, automated credit risk management and financial technologies for the Internet and traditional lending environments. APPRO supports more than 250 financial institutions, with customers of all types in the United States, Canada and Puerto Rico. The company provides rapid implementation time and follow-on consulting for its signature product, LoanCenter(TM), a scalable software system that enables high decision quality and speed and automates the entire workflow of processing credit applications and originating loans for lenders of all sizes. The 22-year-old company is based in Baton Rouge, La. with additional offices in Dallas, Texas. For additional information about APPRO, write to: APPRO Systems, Inc., 7173 Florida Blvd., Suite 100, Baton Rouge, LA 70806, or visit the company's Web site at www.approsystems.com.