Great news out on IACP....
EMERYVILLE, Calif., May 21 /PRNewswire/ -- IA Corporation (Nasdaq: IACP - news) today announced the Phase II contract signing with one of the country's top 20 banks to expand its Intranet loan processing system installed by IA Corporation last year.
The Intranet loan system, which digitally sorts and stores images of the bank's loan documents in a central network document repository, will be expanded to phase in Intranet access to loan associates in over 600 branches and direct loan centers, improving customer service, accelerating the loan processing service and streamlining internal operations.
Phase II will extend Intranet access to all branches across eight states, allowing for high-volume loan document research and inquiry activity. With this additional browser capacity, the bank will enhance customer response time, improve management, monitoring and control of customer inquiries, and reduce reliance on the centralized loan operation department for research.
''Allowing loan officers in any geographical location to handle customer inquiries while 'looking at the same page' is essential for both external customer service and internal operations,'' said Bill Guthrie, vice president of sales at IA Corporation. ''Traditional loan departments in large banks are feeling the heat from online loan competitors, and leveraging the convenience of inter and intranets while offering personal human interaction and customer response is imperative to stay competitive, process more loans and streamline operations.''
The Intranet loan processing system electronically manages and archives loan documents and data, allowing all loan officers direct access to their centralized loan files.
Currently when a bank customer or a branch associate has an inquiry, they contact the loan operations department who accesses the information via the Intranet. This information can then be electronically inserted into customer letters, faxed directly to the customer or mailed.
After Phase II is complete, access to documents via the bank's Intranet will be expanded to allow loan officers access to their files regardless of their geographic location for immediate customer response, inquiry and research. The bank will experience increased operational efficiency and will realize a significant reduction in research time and cost associated with microfilm or paper-based operations.
Using IA's Java-based Intranet solution, the bank's loan departments can access images of consumer loan paperwork and other digital loan information from a central repository. Users can browse a folder's content in seconds to review selected information that may include the original application, signed note, credit reports, collateral information, title and any other relevant documents.
The integrated loan operation system runs on the ORACLE8 database and provides the bank with its first Java-based Intranet application. The loan system scans all paperwork in a customer's loan folder, digitally sorts, stores and archives the images in a central repository and makes them immediately available for authorized loan associates via the institution's Intranet.
The Intranet loan processing system is an extension of IA's expertise in the electronic document repository arena and corresponds with IA's vision of integrating document management with Internet delivery.
Phase II upgrades will be installed in the second quarter of 1999 and are expected to be complete by the third quarter.
IA Corporation
IA Corporation, headquartered in Emeryville, Calif, delivers software solutions allowing leading financial services organizations to integrate the power of the Internet with their network document repository to provide the ultimate in customer services, one-to-one marketing and business intelligence. Applications include CheckVision® Archive(TM), CyberStatement(TM), CheckVision Internet Inquiry(TM), CheckVision Internet Positive Pay(TM) and CheckVision ARP(TM).
The company's customers include leading organizations such as Comerica, Harris Bank, Sanwa Bank California, LTD., SouthTrust Bank, UMB Bank, NA, and Wachovia.
This press release contains forward-looking statements, including but not limited to statements regarding anticipated customer usage, the features and benefits of the Company's phase II loan processing software solution and the anticipated timing of the installation of the Company's Phase II loan processing software solution. The actual results of the use of the Company's phase II loan processing software solution as described in this press release may differ materially from anticipated results based on a number of factors, including the ability of the Company's phase II loan processing software solution to achieve anticipated benefits, customer acceptance of the Company's phase II loan processing software solution, the need for further development of the Company's products and the other factors as described in the Company's Form 10-K for the year ended December 31, 1998.
SOURCE: IA Corporation |
