Company Expects to Eclipse 500 Lenders On-Boarded By December
Drive for Faster Loan Processing and Lower Operating Costs Are Cited for Surge
Islandia, New York - (NewMediaWire) - August 19, 2015 - Teledata Communications Inc. (TCI) (www.tcicredit.com), a provider of cloud-based loan origination solutions for credit unions, banks and finance companies, reported that it increased its customer base by approximately 30 percent over the last year. TCI said it expects to surpass 500 lenders on-boarded on its DecisionLender 3.5 and new DecisionLender 4.0 platforms by the end of the year.
TCI is one of the largest and most respected providers of SaaS-based (Software as a Service) loan origination and decisioning solutions for a wide range of lenders, including banks, credit unions, and finance companies. TCI’s DecisionLender platform is one of the industry’s most popular consumer loan origination systems, and is highly regarded for its flexibility, stringent security, and reporting features that serve the needs of both direct and indirect lenders. It supports purchases of a variety of consumer-financed products, including automotive, power sports, lifestyle, furniture, appliances, and consumer loans.
A Growing Marketplace
According to William Nass, the company’s president, the recent surge in activity is predicated on the growing demand for lenders to initiate more loans faster, while still adhering to government and industry compliance mandates.
“Lenders today—both on the direct and indirect side of the business—are facing enormous competitive pressures to originate more loans faster than at any other time in the past thirty years,” said Nass. “Merchants—and even consumers—recognize they have a wide variety of options in terms of funding sources. As a result, lenders have had to revamp their entire loan origination and decisioning processes, while still complying with a variety of new regulatory mandates. These market dynamics have driven considerable growth for TCI, creating opportunities for us to serve an even greater base of customers. For over fifteen years, we’ve been considered a leader in this space, and our technology is continually recognized for its robust security and compliance capabilities. The interest in TCI solutions continues to escalate, and we are taking the necessary measures to ensure that we have the resources to properly serve lenders for many years to come.”
Increased Staffing and Resources
According to Nass, TCI has bolstered several areas within the company to handle the surge of new customers. In recent weeks, several account managers and sales personnel were added to assist new and existing customers, and the company doubled its development and technology staff to help expedite the implementation process.
“One of our key hires is Brendon Aleski, who is responsible for generating new sales. He brings over 10 years of industry experience, and plays a critical role in assuring that our customers receive maximum value from the DecisionLender platform. By investing in our personnel and resources, we want to make certain that every TCI customer receives the highest level of service and support we can provide,” he explained.
The company released its DecisionLender 4.0, the latest version of its platform, in June. DecisionLender 4.0 offers a modular architecture that enables lenders to customize features and processes for fast and efficient decisioning, while leveraging TCI’s longstanding ability to provide the highest level of data security and compliance processes. By using a broad set of configurable tools, lenders can establish and develop client-specific functions in-house. This flexible design gives lenders the freedom to tailor product functionality to conform to their policies and processes without the disruption that is typically associated with software modifications.
For more information, 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 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 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. For more information visit www.tcicredit.com
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