IA Systems and VINtek Form Strategic Alliance

 Loan origination system, title tracking partnership means one-step auto financing

ALBANY, N.Y., Oct. 10, 2006 – IA Systems, a provider of lending software and services to credit unions, banks and other financial institutions, announced it formed a strategic partnership with Philadelphia-based VINtek. The partnership will integrate IA Systems’ loan processing system, StreamLend Velocity, with VINtek’s VINtekTIME, a paperless and paper title tracking system, to offer customers a more comprehensive approach to auto financing.

Chelsea, MA.-based Metropolitan Credit Union, a StreamLend Velocity customer, is taking advantage of the partnership’s automatic data entry, expediting the loan process and enhancing accuracy.

“We went live with the interface in August and we are very pleased,” said Gary Johnson, assistant vice president of consumer lending at Metropolitan Credit Union. “Our employees save plenty of time since data entry into the VINtek system is no longer needed. The time they save [on data entry] can now be devoted to other resources in the Title Department.”

“The introduction of the IA Systems’ interface with the VINtekTIME paperless and paper title tracking system will provide StreamLend Velocity customers an unparalleled level of service,” said Larry Highbloom, president of VINtek. “The collaboration of IA and VINtek to unite our respective products and seamlessly deliver them to StreamLend customer’s results in a one-stop shop focused on automotive finance. StreamLend customers will have access to the benefits and features of the VINtekTIME system for managing their title inventory. Data will automatically pass between systems without the need for operator intervention.”

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 integration with VINtek to provide its customers with a superior document management solution at a fraction of the current cost.

“We are continually searching for partners that provide the superior customer service and commitment to excellence that we strive for every day,” said Chris Cazer, president of IA Systems. “Our relationship with VINTek offers our customers the opportunity to advance their lending systems even further, saving time, money and resources while enhancing their customers’ experience.”

“Both VINtek and IA Systems are highly respected in the marketplace and share a similar customer base comprised of sophisticated lenders,” said Ron Stone, director of sales for VINtek. “We are thrilled to be able to support IA with added features and functionality for StreamLend.”

About VINtek

VINtek has been helping automotive financiers increase efficiency and reduce exposure to fraud since 1990. VINtek solutions include Electronic Lien and Title, (also known as ELT and e-Title) title administration, business process outsource services, VIN decoding, and used vehicle valuation. In 1999, VINtek received a Top 10 Quality Award from Ford Motor Credit for ELT processing and in 2006 it was awarded the Digital Credit Union “Partnership Excellence” award recognizing superior performance.  The company is based in Philadelphia, Pa.  For more information call: 215.563.3320; email sales@vintek.com or visit www.vintek.com.

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 next-generation 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 browser-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, or call 800.803.7554 ext. 279.

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

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