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Strategies for achieving account growth and enhancing processes detailed
January 20, 2010
Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions, announced the the online release of three new white papers. The white papers discuss effective methods of account opening, loan origination strategies and criteria for selecting a credit-decisioning or loan origination vendor.
“A Strategic Approach to Increased Account Opening” discusses barriers to account opening and methods for creating positive customer experiences. The paper stresses the importance of taking a 3-D holistic customer view by sharing customer data across lines of business, consumer channels and the credit lifecycle. Content includes technology capabilities that help provide consistent customer experiences, personalized offers and immediate remedies to clear hurdles in the account opening process.
“Good Origination Solutions Can Be Better: The Hierarchy of LOS” differentiates legacy technology from mainstream and best-in-class loan origination solutions. Understanding the limitations of current technology assists with determining how to improve. Solutions that include strategic automation integrated with efficient manual underwriting have been proven to significantly increase productivity. This paper outlines various features and limitations of each type of LOS, and describes a prioritized approach to implementing new technology.
“How to Choose the Right Credit Decisioning or Loan Origination Vendor” details the top ten criteria to consider when selecting a vendor to ensure financial institutions don’t just sign with a provider, but gain a strategic partner. In an uncertain economy, return on investment and gaining efficiencies is critical. Choosing the right vendor to enhance business strategies, identify innovative approaches to implementation and provide flexible tools that can be rapidly deployed will help banks succeed in any market.
“TowerGroup analysts have included core lending system transformation, integrated credit risk management and optimization for loan decisioning processes in their top 10 technology initiatives for consumer lending in 2010. Selecting vendors and solutions that will enable financial institutions to focus on customer satisfaction and gain efficiencies in a recovering lending landscape will be key factors in the coming months,” said Dennis Dixon, president of Zoot. “Whether a bank is updating components of existing technology or implementing a brand new solution, Zoot’s 19 years of experience can bring a lot to the table. We’re committed to helping the financial services industry turn the corner and rebuild.”
Zoot’s white paper series reflects dedication to the financial services industry through education and awareness. To read abstracts and download free copies, visit the company’s white papers web page.
About Zoot
Bozeman, Mont.-based Zoot Enterprises, Inc. provides credit decisioning and loan origination solutions through a configurable, scalable and reliable platform to large and innovative U.S. financial services institutions. Visit http://www.zootweb.com or call 406.556.7555 for more information.
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