FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Member Driven Technologies (MDT), a CUSO providing credit unions with a secure, private cloud alternative for core banking and IT needs, is expanding its partnership with Teledata Communications, Inc. (TCI) to offer a comprehensive consumer loan origination system, DecisionLender 4, to its credit union clients.
With DecisionLender 4, MDT now offers a single, cohesive platform for all of a credit union’s lending needs including indirect, direct and online lending, as well as account opening. The system streamlines the loan and account opening processes from application to funding, increasing process efficiency and allowing credit unions to process higher volumes of loans without requiring additional resources. The use of automated decisioning speeds the overall process and allows credit unions to process, underwrite, close, and fund loans efficiently within a single platform. Members benefit from increased interaction, as the system includes a two-way interface that updates borrowers about the status of their loans in real time.
“Lending has traditionally been a cumbersome, costly process for credit unions, which can often result in a frustrating member experience – but it doesn’t have to be that way,” said Barry Kirby, Vice President of TCI. “Our loan origination system simplifies and automates previously inefficient workflows, boosting speed and efficiency of the entire lending process. Our solution allows credit unions to reduce bottlenecks and complexities while ultimately enhancing the member experience.”
DecisionLender 4 offers a flexible design that MDT’s credit union clients can easily configure to address their institutions’ specific lending criteria and workflow parameters, without requiring IT assistance. The platform includes a cross selling module that provides additional and relevant funding options. Integration is also a big differentiator, as the tool seamlessly integrates with third party providers for eSignature, imaging, online banking, and the Symitar® Episys® core processing platform.
“We strive to provide clients with the best possible tools to streamline processes and enhance all aspects of member service, including lending,” stated Larry Nichols, president and CEO of MDT. “DecisionLender 4 easily adapts to credit unions’ specific workflows, decision criteria and branding, allowing institutions to easily adopt the best loan process for their particular institutions. And, as business needs, member expectations and the regulatory mandates evolve, any updates can be made to the platform in real time. By equipping our credit unions with the tools to make better decisions faster, they’ll be able to successfully compete with both national institutions and the numerous alternative lenders and third parties in the market today.”
About Member Driven Technologies (MDT)
MDT provides credit unions with a secure, private cloud alternative for core banking and IT needs. The CUSO’s service-first, hybrid approach to outsourcing enables credit unions to gain efficiency and reduce costs while maintaining a high level of control. MDT hosts the Symitar Episys® core platform, along with seamlessly integrated solutions to run the entire institution, including digital banking, payments, lending, security, continuity and regulatory services. MDT serves credit unions representing more than $22 billion in assets and approximately two million members. Visit mdtmi.com or follow @memberdriven for more information.
About Teledata Communications, Inc. (TCI)
Founded in 1982, Teledata Communications, Inc. (TCI) is a leading provider of software-as-a-service (SaaS) loan origination solutions for credit unions, banks, and finance companies. TCI’s automated solutions enable lenders to substantially reduce costs, improve workflows, and adhere to security and compliance mandates. TCI’s latest solution, DecisionLender 4, features a flexible, modular architecture which online and traditional lenders can configure to address their specific lending criteria and workflows. As authorities in the lending marketplace, TCI’s solutions have been adopted by over seven hundred lenders across a number of sectors, including automobile finance, power sports, lifestyle, appliances, and other consumer-facing industries. www.tcicredit.com.