Online Loan Applications
fiVISION has developed an online loan application module that integrates the process of becoming a new member and getting a loan approval at the same time. This consolidated process bypasses all data entry screens, streamlining this task and eliminating the redundant manual inputting of member information – which allows the individual to become a new member and get a loan all in one session without retyping any personal and financial data.
The new module, launched initially at Digital FCU ($4.4 billion; 370,309 members, Marlborough, MA) is replacing an outsourced solution to provide a quicker, enhanced member experience at a reduced cost. According to Diane Richard, Vice President of Consumer Loans for Digital Federal Credit Union “Thirty-two percent of our members do their loan applications online,” Richard says. “So it’s very important that this process works well and is efficient. And fiVISION’s web loan module does just that. Its automation simplifies the whole process for our members by doing most of the work for them.” (more…)