Group
Health Credit Union Selects IA Systems’
StreamLend®
Velocity
Customizable,
paperless loan origination system to support growth, improve member service
ALBANY, N.Y., Sept. 11, 2006
– IA Systems, a provider of lending software and services to credit unions,
banks and other financial institutions, announced that Seattle, Wash.-based
Group Health Credit Union (GHCU) has selected to implement StreamLend Velocity
to process its loans for consumer and home equity operations. The credit union
has $235 million in assets and six branches throughout the metropolitan area.
GHCU is scheduled to "go live" on StreamLend Velocity with a direct interface to
XP Systems in February 2007, leveraging IA Systems' advanced
ASP environment.
“StreamLend Velocity is superior to our current system and
will enable us to revolutionize our lending process with the many efficiencies
it offers,” said BernaDean Harvey, VP of Lending at GHCU. “It will help our
front-line staff in many ways including strengthening member relationships and
cross-selling products. We fully expect to fund more loans for our members by
automating the entire lending process.”
StreamLend Velocity is a Web-based, customizable, paperless, end-to-end loan
origination system that automates lending operations and streamlines everything
from processing and underwriting to funding and closing. The solution is built
on a .NET and XML architecture, allowing it to seamlessly integrate with all
major core data processors and offer dozens of interfaces to third-party
applications. The loan origination technology also offers advanced security,
auditing, and compliance tools that allow lenders to protect borrowers and keep
data safe.
Carol Belland, EVP of GHCU, said, “StreamLend Velocity is
a comprehensive system that will allow us to become more efficient and save time
by simplifying our lending operations. It offers advanced features and
functionality, and we can customize the system to meet our individual needs.”
Harvey said, “IA Systems has a great industry reputation –
during our evaluation process, they received glowing customer references. The
staff is professional,
highly qualified, hard working and dedicated to client satisfaction. They stand
behind their product and demonstrate a commitment to proactive development of
StreamLend Velocity.”
Chris
Cazer, president of IA Systems, said, “We hope Group Health Credit Union’s
future success will encourage other credit unions on the XP platform to explore
the efficiencies our system can offer. It allows credit unions to optimize
their lending operations and offer more personalized service to their members.
We believe IA Systems offers some of the market’s most advanced lending software
available in the marketplace, which is complimented by our dedication to product
development and client service.”
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, with assets of more than $26 billion, purchased IA
Systems, providing IAS with a national sales force and the financial backing of
one of the nation’s largest independent distributors of insurance 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, including: a user-centric Web interface,
configurable workflow, expansive sales channel integration, and a modular
software design based on open standards. The powerful and flexible Web-based
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, call 800.803.7554 ext. 396, or email
info@IASystems.com.
—end—
For more info,
contact: Lisa Santy, 518.862.9200 ext. 396,
lsanty@iasystems.com
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