SAN JOSE, Calif. (6/24/13)--MeridianLink, developer of a multi-channel account opening and loan origination platform, and FICO, a predictive analytics and decision-management software company, have partnered to provide their credit union and mutual bank clients with access to FICO's small-business and consumer-lending models.
The solution will combine MeridianLink's loan origination platform, LoansPQ, a Web-based consumer loan management solution, with two sets of models built by FICO on pooled data representing thousands of loans: FICO Consumer Application Risk Models and the FICO Small Business Scoring Service (FICO SBSS 7.0).
Launched in October, FICO SBSS 7.0 is a scoring service for assessing the risk of U.S. small-business credit applicants. FICO ARM 3.0 helps assess risk for consumer portfolios and market segments.
The combined MeridianLink and FICO solution will help credit unions and banks generate instant loan decisions for home equity lines of credit, auto loans, credit cards, commercial loans and other loan products. By using FICO analytics, lenders can speed loan decisions while reducing delinquency and charge-off losses, approve more applicants, increase profitability, streamline operations and ensure regulatory compliance, the companies said.
CHATTANOOGA, Tenn. (6/24/13)--SIGNiX, a preferred business alliance of Credit Union Resources and a provider of secure digital signatures, has facilitated the first remote, digitally notarized deed in the U.S.
Credit Union Resources is a wholly owned subsidiary of the Texas Credit Union League.
An American couple living in France used SIGNiX digital signatures and web conferencing to notarize a property deed in Virginia with the Circuit Court of Alexandria.
"With this sophisticated e-notary process, our customers had their documents notarized while they sat comfortably in their home in France," said Timothy Reiniger, cybernotary for the transaction and CEO of Trustmark Certification Services Inc. "This eliminated the need for them to travel all the way to the American embassy in Paris, which would have been a full-day trip."
The Commonwealth of Virginia is the first and only state in the country to authorize this method of online e-notarization, which allows signers to get documents instantly notarized by a Virginia notary from anywhere in the world.
SIGNiX's technology is being used by Trustmark Certification Services to apply digital signatures and an electronic notary seal to e-notarized documents in compliance with Virginia's legislation.