Five More IA Systems Clients to Migrate to StreamLend Velocity^Ò

Credit unions see significant value in enhanced loan processing system

 ALBANY, N.Y., April 11, 2006 – IA Systems—a provider of lending software and services to credit unions, banks, and other financial institutions—announced that five more of its credit union clients will migrate to its new loan processing system, StreamLend^Ò Velocity, from their current IA Systems StreamLend^Ò product. StreamLend Velocity offers automated loan processing tools to fit any-sized financial institution.
            The clients committed to migrating to IA Systems’ new StreamLend Velocity include: Educators Credit Union (Racine, Wis.; $765M in assets), Bay Federal Credit Union (Capitola, Calif.; $510M in assets), Financial Partners Credit Union (Downey, Calif.; $643M in assets), First Technology Credit Union (Beaverton, Ore.; $1.5 billion in assets), and Metropolitan Credit Union (Chelsea, Mass.; $610M in assets), among others.
            “While StreamLend is an excellent product, and we are committed to supporting it for the next several years, clients who choose to migrate to StreamLend Velocity will immediately see enhanced functionality,” said Deb Ryan, CEO of IA Systems.
            StreamLend Velocity is a customizable, paperless, Web-based loan origination system that is designed to automate and streamline the entire lending process for consumer, home equity, and indirect loans. Using the solution, financial institutions can simplify and accelerate all lending areas from processing and underwriting to funding and closing loans.  StreamLend Velocity, built on a .NET and XML architecture, offers seamless integration with all major core processors and third-party vendors.
            “Working with IA Systems is not like working with a vendor, but like having a true partner,” said Paul Jalosky, systems administrator at Educators Credit Union.  “We have confidence in IA Systems and have realized excellent results with their StreamLend product, so the decision to migrate to StreamLend Velocity was simple. IA Systems has been behind us for the past three years supporting our lending operations, and this is a natural extension of our relationship with them. StreamLend Velocity will make our entire lending process even more efficient, and we will be able to better serve our members’ needs while increasing our total loan volume.”
            StreamLend Velocity’s open architecture software design allows an institution’s IT department to maintain the solution from one central point of access, adding new features and upgrades quickly and easily without affecting other parts of the system.  The system has an array of user-friendly stand-alone engines for pulling credit, making automated decisions, and generating proper forms that when used in concert provide a more flexible, powerful, and faster lending process.  IA Systems designed StreamLend Velocity to help institutions approve more loans and fund them faster.
            “IA Systems introduced its first loan origination software, StreamLend, in 1997,” said Chris Cazer, COO of IA Systems. “Since then, we have leveraged our years of industry experience and loan operations knowledge to develop StreamLend Velocity and advance the consumer, home equity, and indirect lending process.  We understand that there is a new generation of lenders and borrowers who have more complex needs and expectations.  We are confident that all our clients will fully realize the value that StreamLend Velocity brings to their loan operations, and ultimately to their members.”

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 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 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.

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For more info, contact: Lisa Santy, 518.862.9200 ext. 396, lsanty@iasystems.com

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