Eastern Software Creates a Financial Relationship Management Package With Its Empower! Consumer Lending Engine

Lending Institutions Can Now Offer and Fulfill

Any Credit Product Through Empower!



Apr 16, 2001, 01:00 ET from Eastern Software Corporation

    SAN FRANCISCO, April 16 /PRNewswire/ -- MBA Booth: 602 -- Eastern Software
 Corporation, national provider of enterprise-wide loan origination system
 (LOS) Empower!, announced that the company is developing an artificial-
 intelligence (AI)-based Consumer Lending Engine to complement the company's
 existing LOS technology.  This engine combined with Empower's current mortgage
 lending engine will create the Financial Relationship Management Package, with
 which institutions can fully process and fulfill nearly any credit product
 through one system.  The Package will be debuted at the company's user group
 meeting on Tuesday, April 17, 2001 in San Francisco, and will be available to
 the market with its June 2001 Empower! upgrade release.
     "Consumer lending engines have been available for many years," said Joseph
 Delaney, president and CEO of Eastern Software, "but what's newsworthy about
 this is that now an institution will be able to use one system to process and
 fulfill all of its credit products -- from student college loans to auto or
 boat loans to a mortgage.  The existing relationship between the customer and
 institution is strengthened, which is ultimately what financial institutions
 are seeking -- long-term customers with multiple accounts or products, who
 contribute to the wallet-share of the institution."
     Eastern has developed the Package to integrate all phases of the lending
 process for multiple business channels and permutations with a user-
 accessible, object-oriented workflow engine.  User-defined components are
 built using comprehensive design tools and are linked to pre-defined objects
 with a logic-based framework to achieve seamless process flow.
     The Financial Relationship Management Package and Consumer Lending Engine
 provide lending institutions with features including a comprehensive tracking
 system; multiple Truth-in-Lending (TIL) compliant calculation methods;
 product-specific pricing controls; HELOC, student and seasonal loans; and a
 variety of "quick-calc" programs including Truth-in-Savings.
 
     About Eastern Software Corporation
     Founded in 1983, Eastern Software Corporation is a privately held, Sharon,
 Pa.-based provider of enterprise-wide loan origination systems.  The company's
 flagship product, Empower!, provides users sophisticated tools to compete in
 today's rapidly evolving market.  Built from the ground up as a 32-bit, N-tier
 client/server application, Empower! offers lenders open architecture with
 comprehensive design tools, multiple database connectivity, and thin-client
 technology.  The system also offers a multidimensional workflow design engine,
 an artificial intelligence (AI) engine, and is Internet enabled.
 Empower! is used by many of the nation's 200 largest lenders including
 Ameriquest, CitiMortgage sub-prime operations, Downey Savings & Loan, E-Loan
 and IndyMac Bank.
     For more information about Eastern Software, visit the company's Web site
 at www.easternsoftware.com ; or call at 1-800-441-0830.
 
 

SOURCE Eastern Software Corporation
    SAN FRANCISCO, April 16 /PRNewswire/ -- MBA Booth: 602 -- Eastern Software
 Corporation, national provider of enterprise-wide loan origination system
 (LOS) Empower!, announced that the company is developing an artificial-
 intelligence (AI)-based Consumer Lending Engine to complement the company's
 existing LOS technology.  This engine combined with Empower's current mortgage
 lending engine will create the Financial Relationship Management Package, with
 which institutions can fully process and fulfill nearly any credit product
 through one system.  The Package will be debuted at the company's user group
 meeting on Tuesday, April 17, 2001 in San Francisco, and will be available to
 the market with its June 2001 Empower! upgrade release.
     "Consumer lending engines have been available for many years," said Joseph
 Delaney, president and CEO of Eastern Software, "but what's newsworthy about
 this is that now an institution will be able to use one system to process and
 fulfill all of its credit products -- from student college loans to auto or
 boat loans to a mortgage.  The existing relationship between the customer and
 institution is strengthened, which is ultimately what financial institutions
 are seeking -- long-term customers with multiple accounts or products, who
 contribute to the wallet-share of the institution."
     Eastern has developed the Package to integrate all phases of the lending
 process for multiple business channels and permutations with a user-
 accessible, object-oriented workflow engine.  User-defined components are
 built using comprehensive design tools and are linked to pre-defined objects
 with a logic-based framework to achieve seamless process flow.
     The Financial Relationship Management Package and Consumer Lending Engine
 provide lending institutions with features including a comprehensive tracking
 system; multiple Truth-in-Lending (TIL) compliant calculation methods;
 product-specific pricing controls; HELOC, student and seasonal loans; and a
 variety of "quick-calc" programs including Truth-in-Savings.
 
     About Eastern Software Corporation
     Founded in 1983, Eastern Software Corporation is a privately held, Sharon,
 Pa.-based provider of enterprise-wide loan origination systems.  The company's
 flagship product, Empower!, provides users sophisticated tools to compete in
 today's rapidly evolving market.  Built from the ground up as a 32-bit, N-tier
 client/server application, Empower! offers lenders open architecture with
 comprehensive design tools, multiple database connectivity, and thin-client
 technology.  The system also offers a multidimensional workflow design engine,
 an artificial intelligence (AI) engine, and is Internet enabled.
 Empower! is used by many of the nation's 200 largest lenders including
 Ameriquest, CitiMortgage sub-prime operations, Downey Savings & Loan, E-Loan
 and IndyMac Bank.
     For more information about Eastern Software, visit the company's Web site
 at www.easternsoftware.com ; or call at 1-800-441-0830.
 
 SOURCE  Eastern Software Corporation