ATLANTA, March 12, 2009 (GLOBE NEWSWIRE) -- In a joint announcement, Vision and iLumen, Inc. today announced a non-exclusive strategic relationship to power and extend the FISCAL Credit Suite using iLumen's iDEA Data Platform for risk management and relationship management. The partnership will include both technical product integrations and co-marketing arrangements.
iLumen's iDEA Data Platform provides enabling technology for commercial banks to connect, consolidate and standardize legacy data into a common data platform for credit, risk, and relationship management. FISCAL provides business and personal financial statement spreading and analysis that drives credit decisions based on the lender's policy. Integrating the offerings enables banks to streamline the life-cycle of commercial relationships from prospecting to underwriting, credit monitoring, risk management and regulatory compliance.
"iLumen delivers a platform that captures and standardizes customer data and analytics across the enterprise and directly from the customer. FISCAL is a credit analysis and decisioning application that is dependent on customer data. The two products are a natural complement," says Jeff Beall, Co-Founder and CEO of Vision. "By powering FISCAL solutions on the iLumen platform, our customers will be able to improve the quality and timeliness of data for risk decisions and regulatory compliance, and preserve legacy data as they implement our solution."
iLumen is positioned as the "powered by" provider to enable Vision and other vendors to provide a total solution for commercial lending," said Michael Canzian, President/COO of iLumen. "Integrating our platform behind FISCAL is valuable for both parties. Vision has the ability to offer our portfolio management application (Portfolio Connection) and our self-serve customer portal (Customer Connection) as an integral seamless offering to its bank and credit union customers. Conversely, iLumen can expand its network of banks that use iLumen technology to connect disparate systems and consolidate customer data into a desktop view for both credit risk managers and relationship managers."
About iLumen
iLumen Inc. provides technology to capture, standardize, analyze and distribute company financial data in order to solve critical problems in risk management, relationship management and financial oversight within the banking, accounting and corporate environments. iLumen's services are based on a proprietary business intelligence and data mapping engine that delivers clean, accurate and timely customer data to enable efficiency, customer intelligence, and competitive advantage. For more information visit www.ilumen.com or call 888-663-8003. iLumen(tm), iDEA(r), Portfolio Connection(r) and Customer Connection(r) are trademarks of iLumen Inc., all rights reserved.
About Vision Software Solutions
Vision Software Solutions, LLC is a leading provider of credit risk management software to banks and credit unions. Our solutions include statement spreading and analysis, benchmarking, decisioning, exception and covenant tracking, and portfolio management and monitoring. We enable our clients to make better credit decisions and monitor their borrowers throughout the life of the loan. For more information visit www.fiscalcs.com or call (800) 248-5550.