Alliant, one of the largest credit unions in the US has been serving members for over 80 years, growing to over 335,000 members and 9.3 billion in assets. In our new press release, John Listak, lending systems project Manager at Alliant, shares how the company built a new consumer loan origination system using FICO® Origination Manager. They were able to improve efficiencies by reducing the number of decision rules per loan product by over 25%, and credit card applications can now close in less than 30 minutes.
Alliant's story is one we see with Financial Services clients around the world; they want to meet growth goals while mitigating risk and providing a fast, more digital customer experience. Most of the time, legacy systems built on outdated technology stand in the way of meeting these goals. Alliant's previous system was not flexible enough to make changes easily, add loan products or improve the product. This of course makes it difficult to stay competitive, because it is difficult to adapt to regulation and meet customer needs. FICO® Origination Manager helped Alliant reach these goals by adding sophistication to their system, enabling fast changes, easy decision rule updates and multiple credit bureau integration. If this story sounds similar to that of your organization, ask your questions about the Alliant story or Origination Manager in the comment section below.