AnyTime Access embracing the Internet delivery channel

SACRAMENTO, Calif. - AnyTime Access believes credit unions can really capitalize on their Web presence if they support their Web products and services with call center support. Over the last two years, AnyTime Access has learned the importance of the Internet as a delivery channel. Last year the company processed over 20,000 loans, worth $220 million, that came from the Internet channel. While the company has been supporting credit unions' Internet lending solutions for the last two years, it just recently unveiled a fully-automated Internet lending solution-AnyTimeLender. AnyTimeLender will provide a fully automated lending decision in 90 seconds. Applications that don't meet the automated criteria will be reviewed by an AnyTime Access loan officer in the call center. One of the biggest challenges for a successful Internet lending program is speed of service. The problem is since many credit unions have tight underwriting criteria many members applying for loans over the Net can't be approved or denied-the application needs to be sent to a loan officer for further review. "Somewhere between 60 to 70% of applicants over the Web can't be approved. There are some very credit worthy people out there that just don't fall within some of the tight criteria credit unions have," said Jeff Whelton, executive vice president, product manager for AnyTime Access. Whelton said AnyTimeLender gives credit unions the ability to fund loans quickly for members that easily fit into their underwriting criteria, but for those who are not instant approvals, they will get the attention of an AnyTime Access loan officer. AnyTime access receives about 3,500 applications a month on the Internet channel. For more information visit www.anytimeaccess.com.