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Teres Solutions Launches New Direct Lending Software for Credit Unions
AUSTIN, Texas – April 6, 2005 – Teres Solutions, Inc. today announced the immediate availability of Software Application for Integrated Lending (SAIL) Direct, a new software solution designed to automate all aspects of a credit union’s direct lending processes, including loan origination, decisions, funding and reporting. The new SAIL Direct software provides seamless integration with existing credit union core systems and with SAIL Indirect, Teres Solutions software for indirect lending. As a result, credit unions can have a completely integrated system that streamlines all their lending processes and provides members with faster responses to loan applications.
“There are few direct lending software choices on the market today that actually combine ease-of-use with the advanced lending automation capabilities credit unions require,” said Bob Tichenor, Vice President of Lending for Denali Federal Credit Union. “Thanks to Teres Solutions SAIL Direct software, the wait is over. SAIL Direct brings together an elegant, intuitive user interface and powerful direct lending automation features that have greatly simplified our direct lending processes.”
SAIL Direct helps credit unions automate decision processes for all types of direct loans, including auto loans, boat loans, CD loans, credit card loans, personal loans and more. The software can be configured to automatically pull credit reports and make loan and funding decisions based on criteria set up by the individual credit union.
SAIL Direct also provides powerful reporting capabilities that can be used to track and audit the entire lending business process. Credit unions can automatically generate real-time reports on loan production, loans by branch, loan amortizations, loan yields, loan delinquencies, departmental production and more. They can also select from a series of standard reports or create custom reports using Crystal Reports. And any report can be instantly exported into an Excel spreadsheet.
“One of the biggest challenges facing any credit union is their ability to quickly and easily generate real-time lending reports,” said Bob Tichenor. “With a touch of a button, SAIL gives us instant access to up-to-the-minute reporting on all our lending activities.”
Teres Solutions’ SAIL software products are used by some of the nation’s most successful credit unions to automate their direct and indirect lending processes. The SAIL family of software products significantly reduces the time it takes to review loan applications, request and review credit reports, enter data into core systems, make lending decisions and quickly respond to dealers and members. With SAIL, not only is the lending process more efficient, but existing staff can be more productive by focusing on improving yields through new member acquisition or sales of add-on services. Key features of the SAIL family of products include:
§ Automated lending decisions through the SAIL Autopilot module
§ Real-time reporting capabilities
§
Integration with major credit union core systems,
including
§ Browser-based technology for rapid deployment and maintainability; while hosted from within the credit union’s infrastructure for greater security and control
§ Integration with DealerTrack’s finance platform for automobile dealerships (SAIL Indirect)
§ Integration with loanliner.com® for receiving and approving your members’ loans 24 hours a day, seven days a week.
§ Intuitive user dashboard
§ Roles-based security features
§ Automated credit checking
§ Application history lookup
§ Federal regulation compliance
§ Automatic dealer response generation
For more information on Teres Solutions and its SAIL software products, visit www.teressolutions.com.
© 2008 Teres Solutions, Inc. All Rights Reserved.