PSCU and CU Direct – two of the largest credit union service organizations in the U.S. – on Thursday announced a partnership that will include offering a key CU Direct product to PSCU’s member credit unions.
St. Petersburg, Fla.-based PSCU said it will offer Lending 360, a loan origination system designed by Ontario, Calif.-based CU Direct.
According to the two CUSOs, Lending 360 will provide credit unions with an “improved member experience by streamlining the entire application process through automation, simplified workflows and powerful reporting capabilities.”
CU Direct describes Lending 360 as an origination platform built specifically for credit unions that supports consumer lending, indirect lending and online loan applications. CU Direct said the product offers streamlined origination, underwriting processing and disbursement, enabling credit unions to “increase productivity and efficiency.”
PSCU said it plans to use Lending 360 in conjunction with its Total Member Care 24/7/365 contact centers to expedite the application process.
CU Direct said Lending 360’s capabilities include:
· Intuitive, user-friendly staff interface – Simplifies the application process, makes it easy to train employees and enables faster processing through fewer clicks.
· Responsive design – Allows branded and customized applications for individual credit unions that render properly on any device, including mobile.
· Highly configurable – Facilitates specific processes through custom configuration.
· Powerful decision engine – Supports underwriting strategies with over 1,800 variables available for use in five 3D matrices and unlimited custom rules.
· Third-party integration – Connects to most host systems and numerous third parties.
“We are eager to make Lending 360 available to our member-owners,” Dan Ruppe, product management director at PSCU, said in a statement. “Our partnership with CU Direct means our 850+ credit unions can now offer one of the most comprehensive multi-channel lending and account opening solutions on the market to their members.”
“We believe Lending 360 will quickly become a necessity for PSCU’s member-owner credit unions,” said Brit Barker, vice president of credit union solutions at CU Direct. “The highly intuitive platform provides credit unions the ability to drive more loans and account openings, faster and more efficiently than before, while improving the member experience throughout the loan application and approval process.”
PSCU is offering its member credit unions a free Webinar to learn more about Lending 360, on Thursday, Nov. 9, at 2:00 p.m. EST. For information or to register go here.