PORTLAND, Ore.-Despite credit union complaints, business lending technology providers say their systems are, indeed, interfaced to core systems.
LaserPro lists about 40 core systems with which it is interfaced, but it's easy to notice that even the most widely used CU core systems are missing from that list. LaserPro is offered by Harland Financial Solutions here.
"The primary reasons we do not interface to particular core systems are host capability and customer demand," said Todd Innes, VP-customer support and interface services, Risk Management and Compliance Solutions Group, Harland.
"With improved technological capabilities of the core systems and increased customer demand, Harland Financial Solutions may be able to interface with additional core systems in the future," he said.
Innes acknowledges the value of interfacing: "It makes it easy for clients to upload their loan information to their core systems for tracking and recording," he explained. "As a result, interfacing to core systems allows institutions to gain efficiencies by eliminating redundant data entry, ensuring data accuracy between LaserPro and the core system, and streamlining transaction workflows."
Pat Spencer, VP-client services at Baker Hill, agreed. "If business lending team members have to move between multiple systems to gather data about clients, it becomes very inefficient."
Baker Hill products are interfaced with more than a dozen CU core systems, and are able to interface with any core, based on the needs of each new client, according to Spencer.
At North Richland Hills, Texas-based Cypress Software Systems, interfaces are roadblocked by the logistics of partnering with core vendors, according to Stephen Sargent, president and CEO. Cypress is, however, interfaced with some document preparation systems, including Harland LaserPro and Wolters Kluwer Rembrandt, he said.
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Read more about business lending technology at cujournal.com and search the following bolded terms in the archive:
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For Small Alaskan CU, Document
The Emerging Role Of Risk
Solution To Scoring Biz Loans
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For info on this story: www.rcu.org, www.tongassfcu.com, www.txbusinesslenders.com, www.bakerhill.com, www.go-cypress.com, www.harlandfinancialsolutions.com.
