News
July 14, 2008
Peoples Bank Selects Metavante’s Loan
Origination and Internet Direct Technology
Existing Metavante Customer Expands Relationship
to Increase Efficiencies for its Loan Origination Platform
MILWAUKEE, July 14, 2008 – Metavante (NYSE: MV), a leading provider of banking and
payments technology, today announced that Peoples Bank has selected Metavante Corporation’s
consumer and mortgage Loan Origination Studio (LOS) products, in addition to licensing its
Internet Direct solution. Headquartered in Munster, Ind., Peoples Bank operates nine banking
centers in Northwest Indiana and has $650 million in assets.
Peoples Bank will use Metavante’s Web-based consumer and mortgage LOS products in
conjunction with its Internet Direct solution to streamline its entire loan origination platform and
deliver more value to its customers. Metavante’s LOS systems interface with Metavante’s IBS
core banking solution enabling Peoples Bank to access existing customer relationship data when
creating new loan applications, as well as submitting closed loan data to its core system for
booking.
Peoples Bank will also have access to Metavante’s decision engine tool that provides pricing and
eligibility decisions at the point-of-sale. The decision engine provides loan officers with a menu of
loan products that match the borrowers’ needs and credit profile during the initial application
process. This enables loan officers to assess the most appropriate loan options to meet the
borrower’s objectives. It also saves the lender time and money by bypassing loan applications
that will not meet underwriting requirements.
“We were looking for a platform that delivered a flexible technology solution across our entire loan
operation and provide integration into our (Metavante) core banking solution,” said David
Bochnowski, chairman and CEO at Peoples Bank. “We chose to expand our relationship with
Metavante because they can fulfill this need. We believe that their integrated offering will not only
increase efficiencies in both our consumer and mortgage origination processes, but also support
our long-time commitment to customer service and satisfaction.”
Peoples Bank will use Metavante’s Internet Direct solution, an online private-labeled origination
Website to reach more of its customers. Metavante’s Internet Direct product enables borrowers to
complete both online loan applications and lead forms that are then electronically submitted to a
lender’s originator network and processing operation. Since Internet Direct uses the same
decision engine technology to qualify the borrower at the point-of-sale, with risk adjusted pricing
and pre-approval capability, Peoples only needs to maintain one set of loan products and
underwriting rules.
“In addition to gaining a new Web-based origination channel with our Internet Direct product,
users at Peoples Bank will no longer need to manually re-enter loan or borrower information,
automating both their consumer and mortgage origination channels,” said Cy Brinn, president of
Metavante Lending Solutions. “Since our LOS products are integrated with the Metavante core
banking system that Peoples uses, we are able to provide a total, end-to-end solution that will
deliver better customer service and reduce the time and cost required to originate a loan.”
About Peoples Bank
Since 1910, Peoples Bank has offered quality service, a wide range of personal, private and
commercial banking products, modern advances in bank technology, and a tradition of high
performance to the residents and businesses of Northwest Indiana. As a community bank,
Peoples is able to leverage its local decision making ability, in-depth knowledge of local affairs
and community participation to helping customers identify and meet their financial goals. Peoples
has contributed to local economic expansion and development while actively supporting
community clubs, organizations, and schools throughout its 98-year history. Peoples Bank
continues to diversify its product and service mix in an effort to better meet the needs of its
customers. They continue to expand their locations to provide customers with greater
convenience while investing in technology, training and people to ensure the best of all service.
About Metavante
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network and provider of mobile financial services. Metavante (www.metavante.com) is headquartered in Milwaukee.
Metavante is a registered trademark of Metavante Corporation.
###
Top |
|
| Previous | Next |
|
