Press Releases

RateGenius Launches FinanceGenius Loan Origination Software for Credit Unions and Community Banks

AUSTIN, Texas–(BUSINESS WIRE)–May 2011–With a twelve-year track record processing more than 710,000 loan applications and booking more than $1.3 billion in consumer loans, Texas-based RateGenius is taking its loan origination software to market as FinanceGenius, customized for community banks and credit unions.

FinanceGenius is a loan origination system that combines loan processing software, a decision engine, and a document system in one platform. The application is integrated within the existing branded websites of lenders, who pay for system use on a per-transaction basis.

Since 1999 RateGenius has developed its highly efficient remote-driven loan platform to quickly decision and process thousands of auto loans on behalf of a nationwide network of credit unions and banks. “RateGenius clients requested access to the software, inspiring us to market our lending solution as a community bank and credit union loan origination system,” says Chris Brown, CEO of RateGenius. “It’s a proven product. We built the FinanceGenius software from the ground up, fine tuned it, and have used it ourselves for twelve years. We’ve doubled our volume and staff efficiency because of our lending software.”

FinanceGenius’ loan origination software offers lenders zero-footprint web access, highly predictive customer scoring, full tracking, paperless automation of loans from origination to funding, and improved compliance. It integrates with any document provider and allows remote document delivery, so members may handle the entire process online.

“FinanceGenius has centralized and streamlined our loan underwriting and processing, making us an efficient lender,’ says Penny Bailey, Branch Manager, Magnify Credit Union. “It’s user-friendly, web-based, and has increased the quantity and quality of our loan decisions. FinanceGenius has great training and their customer support and development is excellent – my questions get answered immediately.”

For information visit FinanceGenius.com or call 866-401-2617.

Based in Austin, Texas, RateGenius, Inc. is licensed as a registered lender with the Texas Office of Consumer Credit Commissioner and is a member of the Better Business Bureau. All lenders in the RateGenius network are either FDIC-insured banks, thrifts or licensed lenders.

Articles

Credit Union Journal – Solution Cuts Costs As Magnify Also Makes Better Quality Loans, May 23, 2011