Stanford FCU SAILs With LendingSoftware

Register now

PALO ALTO, Calif. - (01/12/06) – Stanford FCU said Wednesday ithas signed with Teres Solutions Inc. To implemented thecompany’s SAIL solution to manage and automate both itsindirect and direct lending programs. The $700 million credit unionsaid its consumer loan volume has tripled over the past year,mostly from an increase in indirect loan aplications. Because SAILIndirect interfaces with the DealerTrack network, the credit unionwill now be able to electronically receive and process theapplications. SAIL is also helping Stanford FCU to automate itsdirect loan processes, as more than 85% of the credit union’sdirect borrowers apply for loans online.

For reprint and licensing requests for this article, click here.