Webster First Federal Credit Union Chooses FinanceGenius Loan Origination System

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Webster First Federal Credit Union has selected FinanceGenius as its new consumer loan origination platform, complete with a new member-facing, mobile-optimized loan application system.

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We see the implementation of the FinanceGenius loan origination system as a catalyst for change in our lending culture and processes.

Webster First Federal Credit Union has selected FinanceGenius as its new consumer loan origination platform, complete with a new member-facing, mobile-optimized loan application system.

As part of its strategic growth strategy, the credit union searched for a platform that would help automate loan underwriting and processing, increase speed of service to borrowers and help the credit union capitalize on a wider range of consumer loan opportunities. Webster First FCU needed a system that offered more flexibility, improved workflow management and greater ability to interface with other systems than what was offered by their legacy platform.

“We see the implementation of the FinanceGenius loan origination system as a catalyst for change in our lending culture and processes,” says Jeff Cubberley, Vice President of Lending at Webster First FCU. “We’ve always worked hard to serve our members’ borrowing needs, but our current processing platforms simply did not provide the efficiency and speed of service we needed. With FinanceGenius, we benefit from greater automation, configurable application flows among our branches and other service channels, and mobile-ready access to our loan applications.”

FinanceGenius is a true software-as-a-service (SaaS) platform. It brings all of the benefits of low cost of ownership, high configurability and fast implementation. “At FinanceGenius, we see ourselves as the next evolutionary stage of loan origination software for financial institutions. Many vendors today suffer from obsolete technology and bloated platforms, but FinanceGenius was built using modern technology and practices to serve today’s consumers and lenders. We are mobile- and tablet-ready, require no hardware purchases and are hardware and operating system independent,” says Jack Jordan, FinanceGenius’ Senior Vice President.

Webster First Federal Credit Union is implementing the FinanceGenius system now to serve its 65,000 members. “We’re looking forward to bringing our members faster and better access to our lending services than ever before,” Cubberley said.

About FinanceGenius, Inc.

FinanceGenius is the wholly owned software solutions division of rateGenius, Inc. FinanceGenius offers loan origination software and mobile loan application products in an SaaS delivery model. The rateGenius group of companies includes rateGenius Loan Services, Inc., a nationwide, web-based automobile refinance and recapture loan broker. The company hosts a virtual marketplace to bring together qualified borrowers and its network of more than 180 lenders to save consumers money by refinancing their auto loans at more favorable terms. RateGenius Insurance Agency, Inc., is an independent insurance agency that offers property, casualty, life and health policies from multiple national providers.

To learn more about FinanceGenius, visit http://www.financegenius.com.

About Webster First Federal Credit Union

Founded as a “thrift institution” in 1928, Webster First Federal Credit Union has grown to become one of the top credit unions in the United States while remaining true to their original principles. The credit union now offers 15 branches across Essex, Middlesex, Suffolk and Worcester counties. Webster First’s catalog of products and services include mortgage, auto and personal lending, online and mobile banking, and shared branching—offering members over 30,000 fee-free ATMs nationwide.

More information about Webster First Federal Credit Union can be found online at http://www.websterfirst.com.

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Scott Markland
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