VyStar Credit Union (formerly Jax Navy Credit Union) has installed LoanCenter for Consumer from Appro Systems, Baton Rouge, La.
VyStar, the 15th largest credit union in the United States with more than 275,000 members, has also licensed Appro's small business lending solution, LoanCenter for Business, and anticipates going live with it early next year.
LoanCenter for Consumer, which is linked to VyStar's core processing system provided by Miser, processes approximately 9,000 loan applications per month, with new and used auto loans representing the largest percentage. The product has boosted loan processing efficiency for $2.2 billion VyStar,
which had previously processed loan applications manually.
"The implementation of LoanCenter for Consumer was a smooth one for us and we anticipate a noticeable improvement in our loan processing workflows as a result," said Kathy Bonaventura, senior vice president of lending at Jacksonville, Fla.-based VyStar Credit Union.
LoanCenter for Consumer features automated decisioning, which reduces the need to manually feed data into the system, freeing up time for more productive uses.
"Since we will be spending less time processing our loan applications manually, the time saved can be directed toward providing more services to our membership," said Bonaventura.