The first release included “Checklist: How to Select the Loan Origination System That’s Right for You.” This one-of-a-kind checklist serves as a starting point for banks, credit unions and other financial institutions in the U.S. to use when they evaluate theirs needs for loan software as well as how to judge if the various products on the market will cater to those needs. Other specifics covered in the document include deciding to use an ASP; technical, hardware and staff requirements for the new platform; configurability of the new system; and online account support.
The second release involved a checklist for U.S. institutions to use as they consider starting an indirect lending program. With the recent boom in indirect lending, institutions need to make sure they are properly positioned and prepared to maximize portfolio growth from an indirect lending program. This document walks them through the things they need to know in terms of the needed resources, mindset, research, and other skills to get a successful program off the ground.
Finally, CRIF Lending Solutions finalized a case study with Bank of Idaho that detailed how the ACTion Division’s BizMark solution streamlined the bank’s small business loan operations and allowed its loan officers to focus more on portfolio growth. Application processing times were reduced from days to minutes, charge offs were reduced by more than 40 percent, and state-of-the-art tracking capabilities of BizMark allowed Bank of Idaho to be more proactive in customer management.
