HAPO Community Credit Union Enjoys Streamlined Loan Processing with Velocity from Fiserv
255 Fiserv Dr.
Brookfield, WI, 53045
Press release date: February 25, 2014
Brookfield, Wis.– CUNA GAC, Booth #338 - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Richland, Wash.-based HAPO Community Credit Union (HAPO), with 1.2 billion in assets and over 109,000 members, has increased its loan origination and processing with the Velocity™ loan origination solution from Fiserv.
Velocity from Fiserv supports consumer, business, home equity and indirect loans all on the same platform, and integrates all of the essential system components required for lending success, including loan origination, decision support tools, workflow software and image capture capabilities. An enhanced version of Velocity, Velocity 3.0, is currently in beta testing and will include improved system administration capabilities and improved data mapping of forms and standardized interfaces.
"HAPO has built a reputation for making good loans to good people and the Velocity platform has given us greater control in offering a smooth, efficient lending process to our members," said Scott Mitchell, Chief Lending Officer at HAPO. "We use the system to support multiple loan types, such as boats, RVs, secured lines of credit and dealer direct auto financing. The customizable workflow tools allow our staff to tailor the processes that work best for our organization. We're also looking forward to deploying Velocity 3.0, which will provide the foundation for additional self-service options in our lending operation."
"Credit union employees often have to wear many hats, and HAPO is committed to delivering exemplary service to its members across each of those experiences. With Velocity, HAPO has been able to provide superior member convenience by eliminating manual steps throughout the origination process using just one system to support a wide range of loan types," said Kevin Collins, president, Lending Solutions, Fiserv. "Velocity has the capabilities credit unions such as HAPO need as they adjust to the current loan origination landscape."
Velocity is a pre-configured solution with comprehensive features designed for small and mid-tier credit unions and community banks seeking to grow their business. Velocity simplifies and expedites loan closing and provides greater control over business operations by integrating with numerous account processing systems and an extensive array of third-party applications.
HAPO uses the DataSafeŽ account processing solution from Fiserv. With the addition of Velocity, HAPO can book new loans directly within DataSafe from Velocity without re-keying any information.
Additional Resources: - Velocity from Fiserv - http://www.fiserv.com/processing-services/lending-solutions/velocity.htm
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
255 Fiserv Dr.
Brookfield, WI 53045