SEATTLE. – Seattle Metropolitan Credit Union has signed up with Experion Systems of Maynard, Mass. to offer the firm’s automated advice program on mortgages.The $460 million CU said it hopes to increase its mortgage portfolio by offering the web-based program which provides technology driven guidance to members for product selection.”The Loan Advisor will allow us to expand our mortgage business while maintaining our high standard of member service,” said Ruth Korotzer, executive vice president of SMCU, which has 38,000 members, many of whom are City of Seattle employees. The Seattle CU said mortgages remain a “big business for the credit union” with over $115 million in consumer and business-related mortgage loans. Experion Systems offers a series of automated advice products “to identify the best financial product(s) for customers” with the system providing a direct link to self-service web capability. The technology emulates the dialogue between a customer and a financial product expert, providing product selection advice on complex financial decisions, said Experion.
The disruption could introduce new risks into the system by compelling banks to loosen lending standards and take on greater risk.
The CDFI awards support to developers, renters and buyers.
Without email authentication standards, hackers don’t need to compromise accounts to send emails that impersonate FIs.
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