WASHINGTON – CUNA Mutual announced this morning it is partnering with Fiserv to make mobile lending technology available to credit unions.
The two companies announced their intention to bring mobile lending to smartphones this morning during CUNA's Government Affairs Conference in Washington.
As many as 350 credit unions will participate in the pilot phase of the program for users of Fiserv’s Portico account processing that will integrate with CUNA Mutual’s Smartphone loan technology, powered by loanline.com.
The Portico credit union customers of Fiserv will have access to enhanced mobile lending capabilities that include prefill of their member data and faster decision making. When they log on to the loan applications from the smartphone they will be connected to CUNA Mutual’s loanliner.com mobile technology.
CUNA Mutual’s and Fiserv’s software will interface with Fiserv’s Access Advantage services to obtain member data, pull the credit bureau report, and evaluate the data against each credit union’s underwriting standards.
The loanliner.com smartphone technology will use the underwriting response to return a response to the member/applicant in seconds. From there, the loan application will be sent to Fiserv’s Loanconcierge system for finalization, document preparation, booking and funding.
