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CORVALLIS, Ore. – Core processing clients of Summit Information Systems are now being offered the online account opening and funding solution of Andera Inc. Andera founder Charles Kroll developed New Accounts Online as an ASP outgrowth of Andera’s consulting work with a big Rhode Island bank that then became a company backer. Twenty-one credit unions already have contracted with Andera (www.andera.com) for the service, which now will be marketed to the Fiserv unit’s client base of approximately 270 credit unions. Andera’s Web-based system performs real-time identity verification, decisioning against Chexsystems and credit bureaus lists, OFAC and other watchlist screenings, automatic funding deposits and cross selling for loans and credit cards, Kroll says. “By increasing the number of new member application channels to include the Web, Summit clients that use the Andera New Accounts Online and the Summit Branch Suite products will increase application completion rates while reducing new account opening time and handling costs,” said Krishna Rao, executive vice president and COO for Summit (www.summitsite.com).

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