US-based Unity Bank has decided to deploy Finastra’s Total Lending solution to streamline its commercial and consumer lending processes.
The Total Lending solution is said to fulfil all requirements of the bank as a comprehensive end-to-end credit management system.
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Besides managing the complete loan procedure, the Total Lending solution can also be integrated with the Unity Bank’s existing core banking system.
Unity Bank chief credit officer Darrin Wilson said: “At Unity Bank, investing in our communities through lending is an integral part of our business.
“With Total Lending, we will be able to streamline our lending processes to offer our customers the best possible experience, while growing our lending business through improved operational efficiencies.”
The deployment of the Total Lending solution is expected to enhance customer services and optimise operational efficiency at the Unity Bank.
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By GlobalDataIn addition, it is also expected to reduce decisioning time and improve compliance with dynamic loan documentation.
Finastra senior vice-president of community markets Mike Dionne said: “Community banks like Unity Bank are integral to the financial well-being of the communities they serve.
“As competition from larger national banks continues to grow, community banks can remain competitive and even expand their lending business organically by leveraging a single solution for commercial and consumer lending that incorporates origination, decisioning, processing, document preparation, and loan servicing — thus unlocking efficiencies and providing the level of service today’s consumers demand.”
