WASHINGTON–CU Direct has launched what it called the next generation of its Lending Insights loan portfolio management platform.
“Recognized as the industry standard when it comes to harnessing data for competitive advantage, Lending Insights 4.0 provides credit unions with best in class portfolio analytic tools to manage risk, meet regulatory requirements, increase profitability, and optimize loan portfolio performance,” the company said.
According to CU Direct, the next generation Lending Insights offers a full-spectrum solution that tracks performance and trends against a credit union’s goals, as well as provides vital branch management tools, full drill-down capabilities to assess performance by portfolio segments, static pool analysis of portfolio loss, delinquency and repayment, and market intelligence tools to benchmark the credit union’s performance against other lenders.
“The new platform marries application and loan performance data to provide a complete understanding of the loan relationship from beginning to end,” CU Direct said. “Credit unions have the ability to see the total number of loans processed and funded, as well as who is originating quality loans. The platform combines origination and performance attributes to predict default probability for individual loans. Credit unions that practice risk-based pricing will benefit from this ability to competitively price their loan products, from auto and mortgage loans, to student and member business loans.”
CU Direct said it has translated the more than 25 dashboards and reporting functions, including the dealer network report and scorecard feature, from previous versions into this new single, unified interface that is easy to navigate for credit unions of all sizes.
Users now have the ability to filter at the dashboard level, providing higher levels of customization and usability, CU Direct added.
“Lending Insights 4.0 is more intuitive than the previous version,” said Ellen Yacovone, vice president of lending and collections at Tucson FCU, in a statement. “The displays are easy to read, excellent graphics, and there’s a wealth of information at our finger tips. Lending Insights gives me the tools I need to stay on top of our loan performance.”
CU Direct said that with significant regulatory changes on the horizon, credit unions will need to be able to respond with much deeper analytics on their portfolio than in the past. The company noted that traditionally, business intelligence platforms have relied on the end user to input correct and accurate data. In the new Lending Insights, CU Direct said it has developed an alternative to this potentially problematic bottleneck. Users begin with clean, normalized and reliable data from CU Direct’s internal loan portfolio, the company said.
“With today’s highly competitive and regulated marketplace, our clients recognize the need to look closely at how they manage their lending programs,” notes Michael Cochrum, vice president of analytics and advisory services at CU Direct. “Lending Insights streamlines a wealth of data, while improving performance and putting actionable data at our customer’s fingertips. With the credit union movement on the cusp of major regulatory changes, we want to ensure our credit unions are prepared with solutions that help them remain compliant, while being successful. Lending Insights provides dynamic lending analytics tools that can help credit unions better mitigate risk, find new growth opportunities, and appease regulators.”