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CUNA Mutual debuts smartphone technology at CUNAs ACUC
SAN ANTONIO (6/21/11)--Credit union members will be able to start their loan application process on their smartphones using technology developed by and available through CUNA Mutual Group.
John Putman, director of lending business systems at CUNA Mutual, debuts the new Smartphone loan technology at the Credit Union National Association’s America’s Credit Union Conference. The technology is a mobile version of CUNA Mutual’s loanliner.com product, which is used by more than 500 credit unions nationwide. (Photo provided by CUNA Mutual Group.
Unveiled Monday at the Credit Union National Association’s America’s Credit Union Conference in San Antonio, the Smartphone Loan technology is a mobile version of CUNA Mutual’s loanliner.com product, which is used by more than 500 credit unions nationwide. “By clicking into your credit union’s website, you’ll be able to easily access a loan application just as if you were sitting at your computer,” said John Putman, director of lending business systems at CUNA Mutual and product leader for Smartphone Loans. “This is not a mobile app that requires downloading, so the process is secure and simplified.” Students said they would be more likely to join a credit union if access to products and services was available through mobile channels, according to research CUNA Mutual conducted with University of Wisconsin-Whitewater last year. “We know credit unions want to increase their loan volumes and attract younger members,” Putman said. “This Smartphone Loan technology accomplishes both.” The loanliner.com application system uses CUNA Mutual’s Loanliner lending compliance expertise to ensure the application presented to the member complies with appropriate state and federal regulations and required disclosures. The loanliner.com application system interfaces with credit union’s loan origination system to provide an underwriting decision back to the member in seconds and then transports application data back to the loan origination system.
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