LONG BEACH, Calif., June 1, 2011 (GLOBE NEWSWIRE) -- Lending system technology leaders NetFinance Solutions and Integrated Lending Technologies have formed a partnership to integrate their respective solutions, delivering a seamless automated workflow for loan origination and loan servicing.
Integrated Lending Technologies, LLC (ILT), of Salt Lake City, Utah, provides innovative lending technology and services to credit unions, banks and other financial institutions. Incorporating extremely robust automated decisioning programs and versatile manual underwriting tools, ILT's web-based systems significantly decrease average response times and increase lending staff efficiency. NetFinance Solutions (NFS), of Long Beach, Calif., delivers intelligent, world-class web-based loan management technology that manages all aspects of servicing workflow and allows open access for easy integration with other systems, while maintaining centralized analytics and reporting throughout.
The two companies are building an XML-based interface between DILLS/PILS and NetFinance Solutions that moves all data from DILLS- or PILS-generated originations directly onto the NetFinance Solutions servicing platform. The data flows automatically, over the web, and because the integration is direct, every nuance of the origination process flows through to the servicing, collections, recovery and portfolio management functions. The tight integration also enables advanced performance analytics – every tweak to an underwriting program can now be easily measured against actual servicing performance, using the analytical tools, which are an integral part of NetFinance Solutions' offering.
"Lender profitability is driven by two primary things – effective underwriting and processing efficiency," said Mark Gleason, president of NetFinance Solutions. "Integrated Lending Technologies and NetFinance each bring advanced, automated workflow capability from their respective parts of the lending process. Integrating it together isn't really too difficult, but the key piece of extra value from the integration is the ability to correlate underwriting decisions with servicing results in a multidimensional analytical view, without having to build or buy anything else."
"The ultimate objective of all product development at ILT is maximizing the efficiency of the lending process for our lender clients," according to William McGregor, president and CEO of Indirect Lending Technologies. "Automated transfer of loan data from our systems to a client's data management and servicing system certainly enhances the efficiency of our products and helps us achieve that overall goal. The integration of ILT's loan origination technology and NetFinance Solutions' portfolio management tools makes an extremely powerful and effective combination for any lender."
The XML integration technology will be available this summer. Contact either Integrated Lending Technologies (www.iltech.us) or NetFinance Solutions (www.netfinancesolutions.com) for further information.
About NetFinance Solutions
NetFinance Solutions (www.netfinancesolutions.com) delivers advanced enterprise-class lender management solutions to mid-market lenders, leveraging proven technology delivered through the Internet to make it more secure and affordable. NetFinance's modular technology solutions span the lifecycle of loan management, from origination to servicing and analytics. The company was founded by a team of web technology and finance industry experts with more than 75 years of combined enterprise software experience including Software as a Service (SaaS) lender management solutions. The company is headquartered in Long Beach, Calif., with offices in Dallas and Philadelphia.
About Integrated Lending Technologies
Integrated Lending Technologies, LLC (www.iltech.us) offers innovative technology solutions and consulting services for the lending industry. Its most widely used product is Dealer Indirect Lending and Leasing System™ or DILLS™, a complete web-based system for managing the automotive indirect lending process. Professional Indirect Lending System™, or PILS®, automates and simplifies "lifestyle" and other types of remote, unsecured lending. Both ILT systems include the most versatile automated decisioning system in the industry, extensive management tools and reports and automated downloads into most core management systems.
Media Contact: Holly Ferris, holly@ferriscomm.com, 562-429-6456
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