Charter Oak Federal Credit Union Deploys TCI's DecisionLender 4.0 Loan Origination System

ISLANDIA, N.Y., April 14, 2016 /PRNewswire/ -- Teledata Communications Inc. (TCI) (www.tcicredit.com), a provider of cloud-based loan origination solutions, announced that Charter Oak Federal Credit Union has launched TCI's innovative DecisionLender 4.0 loan origination system (LOS) for automated decisioning and loan processing services. DecisionLender 4.0 is the latest version of TCI's flagship LOS platform. It features a number of market-leading capabilities, including a customizable decisioning engine, intuitive user interfaces and sophisticated analytics that deliver a competitive advantage to financial institutions.

The Waterford, CT-based Charter Oak Federal Credit Union (CharterOak.org) is eastern Connecticut's largest credit union with assets of $935 million as of December 31, 2015 and 14 branches in New London and Windham counties. Charter Oak offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, non-profits and professionals in New London and Windham counties. Charter Oak is initially using DecisionLender 4.0 to improve its automobile lending capabilities.

"DecisionLender 4.0 far exceeds other platforms in a number of aspects, including flexibility, scalability, ease-of-use, and certainly value," explained Barbara Meliso, consumer lending manager for Charter Oak. "This system gives us the ability to simplify and expedite the entire loan origination process, which makes our auto dealers and their customers extremely happy."  

DecisionLender 4.0, gives lenders unprecedented flexibility and control over how they process loan applications, allowing them to respond immediately to market changes, create and adjust lending rules, parameters, application fields, and workflows as needed, without requiring expensive and time-consuming IT or development resources.  DecisionLender 4.0 also delivers granular visibility into the lender's performance through comprehensive analytics tools, giving lenders the ability to assess and revise their lending operations in real-time. This degree of customization represents a completely new approach to loan origination technology, and empowers financial institutions to become more agile and responsive in their loan offering programs.

"We're delighted that Charter Oak has implemented DecisionLender 4.0 to provide the technology foundation for its auto lending programs," said Barry Kirby, vice president of sales for TCI. "This system gives financial institutions like Charter Oak the ability to instantly adapt their programs to meet fast-moving market opportunities, without having to use expensive, laborious IT resources. Such agility helps lenders process more loans faster—and more reliably—while reducing operating costs."

For more information on TCI and DecisionLender 4.0, visit www.tcicredit.com.

About Teledata Communications, Inc.
Founded in 1982, Teledata Communications, Inc. (TCI) is a leading provider of software-as-a-service (SaaS) loan origination solutions for credit unions, banks, and finance companies. TCI's automated solutions enable lenders to process a greater amount of loans, improve workflows, and adhere to security and compliance mandates more completely. TCI's latest solution, DecisionLender 4.0, features a flexible, modular architecture which online and traditional lenders can configure to address their specific lending criteria and workflows. As authorities in the lending marketplace, TCI's solutions have been adopted by nearly five hundred lenders across a number of sectors, including automobile finance, power sports, lifestyle, appliances, and other consumer-facing industries. www.tcicredit.com.

Public Relations Contact
Glenn Goldberg
Chief Executive Officer
Parallel Communications Group
516-705-6116
[email protected]

SOURCE Teledata Communications, Inc.

Related Links

http://www.tcidecisionlender.com