LONG BEACH, Calif., Sept. 29, 2011 (GLOBE NEWSWIRE) -- Lending system solution leaders NetFinance Solutions (NFS) and Teledata Communications, Inc. (TCI) are pleased to announce plans to integrate their web-based lending platforms, delivering a seamless, fully-automated workflow solution for loan origination and loan servicing.
Teledata Communications, Inc., of Hauppauge, New York, has been providing advanced loan origination solutions delivered as a Software as a Service (SaaS) for 12 years. TCI's DecisionLender is a highly flexible, browser-based loan origination solution for consumer lending. DecisionLender incorporates the financial institution's own lending criteria, automates the entire loan origination process, and connects to auto portals and core servicing systems.
NetFinance Solutions, of Long Beach, Calif., provides Software as a Service (SaaS) technology that automates all aspects of servicing workflow and allows open access for easy integration with other systems, while maintaining centralized analytics and reporting throughout.
The companies have two mutual customers and are building an XML-based interface between DecisionLender and NetFinance Solutions that moves all loan origination data from DecisionLender directly onto the NetFinance Solutions servicing platform. The data flows automatically, over the web, retaining every data element of the origination process for use in the servicing, collections, recovery and portfolio management functions in a secure and compliant environment.
"TCI and NFS have long had a great management relationship," said Mark Gleason, president of NetFinance Solutions. "We're really pleased to have taken it to the next level with our new, mutual customers and the opportunity to integrate the two platforms so lenders can really reap the benefits of our companies' lending operations and web expertise."
"Through the integration of NFS' and TCI's platforms, our lender customers gain because the process becomes simple and transparent," according to William Nass, president and CEO of TCI. Plus, the integrations give them the benefits of big-company lending automation-reducing costs, assuring data accuracy and real time management reporting."
The integration technology will be available this fall. Contact either Teledata Communications, Inc. (TCI) (www.tcidecisionlender.com) 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 technology solutions automate the lifecycle of loan management, from origination to servicing and analytics. The company is headquartered in Long Beach, Calif., with offices in Dallas and Philadelphia.
About Teledata Communications, Inc. ( TCI )
TCI (www.tcidecisionlender.com) has been developing credit accessing solutions for over 25 years and providing SaaS solutions since 2000. TCI's web-based loan origination solution, DecisionLender, is the industry leader in affordable, high performance loan origination solutions that accelerates the loan origination process. DecisionLender is utilized by banks, credit unions and finance companies for indirect and direct consumer lending. The solution connects auto lenders to DealerTrack, Route One, CUDL and ODE and integrates with many servicing platforms.
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