Texas Bank Licenses Software to Streamline Lending Operations

Riverway Bank, Houston, has licensed easyLENDER, a Windows-based loan origination and processing system from Fiserv that automates the entire lending process. Because Riverway is currently in the process of converting its core-bank processing system to Fiserv's CustomerFile solution, the bank has also licensed Fiserv's easyLENDER-to-Customer File interface software.

Designed for Windows 98, NT, and 2000, easyLENDER automates every phase of loan origination, processing, and closing. Riverway plans to use it to boost lending productivity and improve customer service. "We're in the process of converting our core processing system to Fiserv's CustomerFile system, and we wanted to install a 32-bit, Windows-based lending solution," said Louella Hadlock, vice president and manager of loan administration at $600 million Riverway.

One of the largest independent banks in Texas, Riverway serves both retail and commercial customers from its single large facility in Houston's Galleria area. Instead of expending resources on acquisitions or building a branch network, it pays its customers more on deposits, charges less on loans, and focuses on meeting its customers' needs. Riverway is also known for using the Internet to deliver competitive rates and cost-effective products and services.

Riverway's search for a new loan origination system began in 1998. After looking at several systems, Hadlock's software evaluation team made an initial vendor selection and partially installed a lending system the team hoped would work well. "We liked that system's functionality," Hadlock said, "but we discovered that it simply couldn't deliver everything we'd been led to expect. So we chose not to complete the installation."

Hadlock's team then examined several other systems, but couldn't find one with the complexity and sophistication Riverway needed. "We're unique in that we use off-site partners-such as large vessel and aircraft agents-to generate loans," Hadlock explained. "Our partners originate and close loans at their locations, but we perform the underwriting functions in-house."

Finally, Riverway evaluated and selected easyLENDER. "We liked its flexible ability to meet the needs of our off-site partners," Hadlock said. "And easyLENDER's CustomerFile interface is a definite plus."

Depending upon an individual bank's operational procedures, an easyLENDER core-banking interface can save a lender up to 20 minutes or more per loan by eliminating the need to re-enter loan information into its core processing system, according to Fiserv. The company has developed easyLENDER interfaces to dozens of popular core banking systems.

Hadlock anticipates immediate efficiency gains, in large part due to easyLENDER's automated "upload" interface to Fiserv's CustomerFile system. "Until now, we've had to enter data several times: once to get application and credit information, once to process and close the loan, and then once again to enter the loan data into our core-processing system."

"With easyLENDER and its CustomerFile interface, we'll enter loan data just once," Hadlock noted. "We'll see fewer data errors and we'll increase our staff productivity."