Anheuser-Busch Employees' Credit
Union Selects IA
Systems’ StreamLendÒ Velocity
.NET
architecture design, hosted ASP environment to meet credit union’s changing
needs for loan processing
WASHINGTON,
DC, Feb. 27, 2006 –
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) 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 system—automates the entire lending
process and streamlines everything from processing and underwriting to funding
and closing by using industry-advancing tools and design. While the product can
be installed and supported at the financial institution, 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, $810 million credit union with
27 branches, decided to partner with IA Systems because the credit union’s
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 minimal IT responsibilities on our part.”
In addition to a hassle-free IT environment, 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, which allows clients to work with a partner who understands their
industry and is cognizant of the security issues facing today’s market.
“Anheuser-Busch Employees' Credit Union is a
recognized leader in the delivery of multiple financial services,” said
Chris Cazer, Chief Operating Officer of IA
Systems. “Selecting StreamLend Velocity and using our ASP
will not only provide ABECU 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 operating the system. The credit union is scheduled to
“go live” with the product in the beginning of Q2 of this year.
About IA Systems
Since 1991, IA
Systems has developed technology to streamline business operations for
credit unions, banks, and other financial institutions. In 2000, St. Paul,
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, StreamLend Velocity, is a paperless,
end-to-end loan origination system that simplifies, automates, and accelerates
the lending process using industry-advancing tools such as a user-centric
browser interface, configurable workflow, and modular software 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. 396.
—end—
For more info,
contact: Lisa Santy, 518.862.9200 ext. 396,
lsanty@iasystems.com
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