ISLANDIA, N.Y., July 12, 2016 /PRNewswire/ -- Teledata Communications Inc. (TCI) (www.tcicredit.com), a provider of cloud-based loan origination solutions, announced that North State Acceptance, a recognized provider of competitive automobile and personal loans across the eastern United States, is now conducting all loan origination activities on TCI's advanced DecisionLender 4 loan origination system (LOS). Through this implementation, North State Acceptance can easily manage a wide range of loan origination workflows, including setting and adjusting lending rates and programs for specific branches, customizing automated decisioning and reporting processes, and automatically generating loan documents through the system.
DecisionLender 4 is a cloud-based platform designed to serve the needs of a broad range of lenders, such as finance companies, banks, credit unions, and online providers. It provides unprecedented flexibility and control for automating loan origination processes, allowing lenders to manage lending rules, parameters, application fields and workflows as needed, without requiring expensive and time-consuming IT resources. DecisionLender 4 also delivers comprehensive analytics tools that gives lenders visibility into a number of metrics to assess and revise their lending operations in real-time. This high level of customization empowers financial institutions to become more proactive and agile in creating and adjusting lending programs.
Founded in 1997, North State Acceptance operates sixteen branches in North Carolina, South Carolina, Tennessee, Delaware, Maryland, Pennsylvania and Virginia. Each office has the autonomy to set competitive lending rates for their specific market, and is responsible for initiating and maintaining relationships with local automobile dealers to best serve the needs of consumers. DecisionLender 4's intuitive administrative tools and ease-of-use enables North State to make on-the-fly adjustments to lending rules and decisioning parameters on a local level, ensuring that rates are competitive within each market, and that all loan decisioning and loan processing workflows are completed according to the needs of local dealers.
"The DecisionLender 4 platform provides us with the ability to manage loan origination workflows on a hyper-local basis—a capability we have not seen in other loan origination solutions," explained James L. Ratcliff, president and chief executive officer of North State Acceptance. "This high degree of customizability enables North State to keep our competitive advantage in the markets we serve by continually providing programs and rates that best serve the needs of our customers. In addition, our team is extremely pleased with the simplicity and flexibility inherent in DecisionLender 4. It helps us become more efficient, reduce costs, and ensure that customer expectations are quickly met."
In addition to its unique branch office capabilities, North State also utilizes an efficient management notification tool that discreetly alerts a senior loan officer when a first-time loan applicant enters the system. Once a decision on the application is made, DecisionLender 4 transparently forwards the processed application back to the dealer.
"North State's use of the DecisionLender 4 platform underscores the high degree of flexibility and functionality built into the system," said Barry Kirby II, vice president at TCI. "The fact that North State can use a single cloud-based solution to manage lending programs for each of its branches increases its ability to satisfy customer needs, while significantly reducing operating costs. This not only translates into a very compelling ROI, it also ensures they are consistently competitive in each region they serve."
For more information on TCI and DecisionLender 4, visit www.tcicredit.com.
About Teledata Communications, Inc.
Founded in 1982, Teledata Communications, Inc. (TCI) is a leading provider of software-as-a-service (SaaS) loan origination solutions for credit unions, banks, and finance companies. TCI's automated solutions enable lenders to process a greater amount of loans, improve workflows, and adhere to security and compliance mandates more completely. TCI's latest solution, DecisionLender 4, features a flexible, modular architecture which online and traditional lenders can configure to address their specific lending criteria and workflows. As authorities in the lending marketplace, TCI's solutions have been adopted by nearly five hundred lenders across a number of sectors, including automobile finance, power sports, lifestyle, appliances, and other consumer-facing industries. www.tcicredit.com
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