Three Credit Unions Select Teres Solutions Software to Enable Indirect Lending Programs.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , Texas -- Growing ranks of SAIL users now include IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Texas Employees Federal Credit Union, Lockheed “Lockheed” redirects here. For the character in Marvel Comics, see Lockheed (comics). For the current company, see . Lockheed Corporation (originally Loughead Aircraft Manufacturing Company) was an American aerospace company originally founded in 1912 Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. Employees' Federal Credit Union and United Heritage Credit Union Three credit unions have joined the growing list of users who have selected indirect lending software from Teres teres /te·res/ (te´rez) [L.] long and round. te·res adj. Being round and long. Used of certain muscles and ligaments. teres [L.] long and round. Solutions, Inc., a software provider to financial lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in . IBM Texas Employees Federal Credit Union, Lockheed Georgia Employees' Federal Credit Union and United Heritage Credit Union are adopting the SAIL(TM) (Software Application for Integrated Lending) Indirect product to streamline their lending programs. IBM Texas Employees Federal Credit Union, which services approximately 30,000 members, looked to Teres Solutions when it needed a flexible 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 that would enable it to expand its services. "SAIL Indirect provides the decision capabilities, flexibility and ease of use we need for our new indirect lending program," said Pierre Cardenas, vice president-retail for IBM Texas Employees Federal Credit Union. "Teres Solutions has extensive experience in the credit union market and has created a solution that gives us everything we need, including tracking and reporting capabilities that will help us better manage relationships with automobile dealers." SAIL Indirect is a Web-based technology that resides within a credit union's infrastructure. The software integrates with all major credit union core systems and credit bureaus, and features an intuitive user dashboard (1) See Mac Dashboard. (2) A software-based control panel for one or more applications, network devices or industrial machines. Dashboards display simulated gauges and dials that look somewhat like an automobile dashboard. . The software was developed specifically to reduce the time it takes credit union staff to review loan applications, request and review credit reports, enter data into core systems, make lending decisions and quickly respond to dealers and members. For United Heritage Credit Union, based in Austin, Texas, there were several key reasons for choosing SAIL Indirect, including its reporting features and its interface to the DealerTrack automotive finance platform. DealerTrack is a web-based platform that automates and accelerates the entire automotive financing process by electronically linking dealerships with financing sources. SAIL Indirect allows credit unions to receive credit application data electronically from the DealerTrack platform and respond with an instant decision, making the automobile loan and lease application process faster, more efficient and more accurate. "We're sold on the fact that SAIL Indirect will enhance our relationships with automobile dealers," said United Heritage Credit Union's Senior Vice President of Lending/Chief Lending Officer Blake Richardson Blake Richardson plays drums for North Carolina based metalcore band Between the Buried and Me. He also is the drummer for another North Carolina metalcore band Glass Casket with fellow member of Between the Buried and Me, guitar player Dusty Waring. . "This is critical for us, as we've talked to a number of dealers who value the convenience of the DealerTrack platform. To be competitive with the larger national banks, we need to be in front of the dealers -- Teres Solutions' software lets us do this easily and efficiently." Dozens of the nation's most successful credit unions use Teres Solutions' SAIL products to automate To turn a set of manual steps into an operation that goes by itself. See automation. the indirect lending process and provide greater visibility into how the programs are managed. With SAIL solutions, not only is the lending process more efficient, but existing staff can be more productive by focusing on improving yields through new member acquisition or sales of add-on A purchase of additional goods before payment is made for goods already purchased. An add-on may be covered by a clause in an installment payment contract that allows the seller to hold a security interest in the earlier goods until full payment is made on the later goods. services. Lockheed Georgia Employees' Federal Credit Union, with approximately $550 million in assets and more than 85,000 members worldwide, was struggling to meet the demand of its rapidly growing indirect lending program. It chose Teres Solutions' SAIL software to help boost productivity and increase the volume of loans sent from automobile dealers. The credit union had evaluated a number of other software alternatives but ultimately went with the SAIL solution because it was the only product with a direct link to DealerTrack and the company's reputation is undisputed among its customers. About Teres Solutions, Inc. Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: loan tracking and reporting capabilities. Visit www.teressolutions.com for more information on Teres Solutions, its products and services. SAIL is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion