Module integrates seamlessly with flagship loan origination system, StreamLend^TM Velocity 2.0

 

Open Solutions IA Systems Releases New Business Lending Module
 

Albany, NY and Glastonbury, Conn. - Feb. 18, 2009- IA Systems, a strategic business unit of Open Solutions, Inc.®, today announced the availability of its new business lending module. This module integrates seamlessly to its flagship loan origination system, StreamLend Velocity 2.0 . IA Systems launched this initiative to address a need within the market for a fully-integrated, Web-based business and consumer lending solution. Open Solutions is a leading provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets.

IA Systems' StreamLend Velocity is a paperless, Web-based loan origination system that speeds credit and loan decisioning, integrates sales channels and manages risk for financial institutions.

"Adding a robust business lending module to Velocity's suite of loan origination products allows our clients to offer additional product lines to their members and customers through a single point of entry," said David Van Pelt, senior director of software development. "This module will increase efficiency and reduce lending costs, ultimately benefiting managers, users and IT departments. At the executive level, the implementation of business lending via a fully-integrated system leads to increased interest and fee income, as well as additional cross-sell opportunities in the competitive lending landscape."

The various loan types supported by our Business Lending module include business lines of credit and credit cards (secured and unsecured), business term loans (non-vehicle), business real estate loans and overdraft protection.

"With the unprecedented changes the world is experiencing, we believe that there is an opportunity for our clients to establish solid relationships with small businesses that may be finding their lines of credit reduced or frozen by larger financial institutions," said Louis Hernandez, Jr., chairman and CEO, Open Solutions Inc. "Our robust loan origination product suite can help clients of all sizes take advantage of this opportunity and thrive. We pride ourselves on working with our clients to create the technology products they need to be successful - no matter what the climate. Our business lending module is just another example of that teamwork."
 

About Open Solutions IA Systems
IA Systems, an Open Solutions business unit, provides high-quality software solutions and services that automate lending operations and streamline business processes for the financial services industry.
Our flagship product, StreamLend® Velocity, provides credit unions, banks and other financial institutions with a loan origination system that is one of the most powerful, flexible and easy to use products in the lending industry. For more information about IA Systems and its products and services, visit www.IASystems.com, email us at: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or call 800.803.7554 ext. 279.
 
About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. 

 

Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today's aggressive financial services marketplace, to expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
           

For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or by phone at 860.652.3153 or via fax at 860.652.3156.  

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