Pentagon Federal Credit Union has agreed to use paperless lending software from Fiserv Inc.
The Brookfield, Wis., provider of banking technology said Wednesday that Pentagon FCU in Alexandria, Va., will use its Nautilus Enterprise Content Management System to handle mortgage documents without relying on paper. The Nautilus system scans documents and lets them be shared and archived electronically.
The credit union said that it plans to link the Nautilus software with Fiserv's UniFi Pro loan origination software and its Loan Servicing Program software, which it is already using. Pentagon FCU has 764,000 members and assets of more than $11.2 billion.
"We are looking forward to Nautilus bringing us operational savings and increased processing efficiencies as we create a completely paperless solution," James Schenck, a Pentagon FCU executive vice president and the chief operating officer, said in Fiserv's press release.
