Monday, Jun. 18, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
ORLANDO, Fla. — Aimbridge Lending Solutions, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced it has introduced an expanded suite of direct lending products at the Florida Credit Union League Annual Convention and Exposition.
AimbridgeConnect said it now offers complete front-end lending with direct, indirect and Web-based solutions based on its indirect workflow management platform. The additional offerings are part of the company's ongoing efforts to address the changing needs of credit unions and their members, according to executives.
Aimbridge specializes in providing products to credit unions and dealerships throughout the country that allow members to get approval auto loans.
Aimbridge said it currently serves more than 500 credit unions throughout the country.
AimbridgeConnect's new direct lending products, which include auto loans, lines of credit, home equity loans, home equity lines of credit, credit cards, boat loans, motorcycle loans, RV loans, signature loans and pledge loans, give Aimbridge the ability to capture Internet applications that are submitted through credit union Web sites, or credit unions can send them to Aimbridge directly, executives explained.
The company then delivers decisions based on scorecards uniquely created by each of the credit unions, officials continued.
"The biggest benefit to our customers is the fact that the direct lending products are an extension of Aimbridge's existing technology," explained David Lindsey, vice president of technology and product development at Aimbridge.
"Everything was built on the same platform, so customers are able to use the same proven tools and tracking elements that are already available to them with AimbridgeConnect," he added.
Users can visit the AimbridgeConnect Web site where they are able to manage their direct, indirect and Web-based loan volume.
"All of the direct products are both scaleable and customizable, which allows credit unions to use AimbridgeConnect in the way that best fits the needs of their organization and its members," officials reported.
Philip Curle, manager of the loan services department at Illinois Credit Union League, which was one of the first to implement the new product, said "Aimbridge Lending Solutions has always had a clear understanding of the needs of the credit unions.
"As a result, we have a credit card product that was tailored to fit our business model, rather than being required to shape existing lending processes around the product. This is the reason why we have enjoyed such success with AimbridgeConnect in the past, and it continues to help us improve our processes," he highlighted.
Aimbridge, headquartered in Englewood, Colo., has remote offices throughout the United States. For additional information visit www.aimbridge.com, call (888) 400-2865, or e-mail.