AUSTIN, Texas – Velocity CU is one of the first credit unions to integrate RateGenius, a direct-to-consumer auto loan refinancing solution, with the Teres Solutions SAIL l ending platform.
The integration will give the credit union access to auto loan refinance and insurance applications submitted through the RateGenius system, helping them to expand their direct lending businesses.
The integration with RateGenius provides SAIL software clients with electronic access to a growing network of auto refinance applications. Users can also tap into applications for other kinds of products, including Gap insurance, credit life, accident and health, warranties, auto and home insurance and more. After setting up their underwriting criteria in the SAIL system, credit unions and financial institutions can automate their loan application review, approval and funding procedures. As a result, they’re able to process and fund more refinance loans then before.
