CU Direct, TMG Form New Card Processing Pact
TMG Financial Services has teamed up with CU Direct Corp. to process new credit card applications.
As a result of the agreement, the Des Moines, Iowa-based TMGFS, a credit card issuer, will be implementing CU Direct’s loan origination system, Lending 360.
By using Lending 360, the Ontario, Calif.-based CU Direct said TMGFS will significantly improve the workflows associated with originating, underwriting, and processing new credit card applications.
With over $135 million in assets, TMGFS serves nearly 60 financial institutions and member-based associations servicing more than 65,000 card members, according to CU Direct.
“We expect Lending 360 will integrate seamlessly into our day-to-day operations, which will allow us to continue delivering the top-notch service our partners expect,” said Eric Schurr, vice president of credit and risk for TMGFS.
According to CU Direct, TMGFS expects implementation of Lending 360 to be completed during the third quarter of this year.