CUDL Helps CU Save Time
The decision engine was launched in the third quarter of 2008 and fully synchronizes a credit union's indirect lending policies and underwriting with their direct lending practices.
"We have realized a number of benefits through upgrading to the decision engine," said Carl Roer, vice president of lending at Sound Credit Union in Tacoma, Wash. "These benefits generally fall into the areas of speed and efficiencies and underwriting. These new automated functions also reduce the amount of time we spend in procession loan decisions."
Decision manager allows credit unions to implement new risk controls and increase automation through a multi-dimensional interface that gives credit unions the ability to create their own custom rules using a library of hundreds of variables.
"Our goal was to eliminate the 'one-size fits all' approach to risk management automation for our credit unions," said Kip Haas, CUDL's executive vice president of product and development. "By integrating this solution with our lending platform, we've given our credit unions what they have been asking for-the ability to leverage any data available to them through the loan application process to automatically decision applications their way-while also significantly reducing processing time."