C2 Systems and Compliance Systems Partner to Create a Game-Changing Platform for Loan Origination
C2 Covalent delivers a best-in-class Digital Lending Solution through an intuitive cloud-based user experience, from point of sale, through e-contracting, using AI-driven decisioning.
COLLEYVILLE, Texas, July 10, 2018 /PRNewswire-PRWeb/ -- C2 Systems, LLC, a leading developer of cloud-delivered, AI-supported loan origination solutions, has partnered with Compliance Systems, Inc. ("CSi"), the leading provider of content configurable compliance risk management, to provide an unparalleled and frictionless process for consumer and business banking credit origination.
Managing credit and regulatory compliance risk in today's environment is an ever-increasing challenge, particularly when combined with competitive pressures and customers' growing demands for world-class digital options when doing their banking. C2's Covalent solution fully integrates CSi's most recent release of Simplicity Runtime and Simplicity Configuration to solve each of these challenges. Once an applicant accepts the terms of an approval, Covalent automatically forwards new account information, along with a request for closing documents, to Simplicity. Using sophisticated business rules and compliance logic, Simplicity analyzes the request and then either remits a complete closing package back to Covalent--or begins an interactive dialog with the user to ensure all compliance risks have been identified and that all of the information required to produce the closing package has been gathered. The combined solution, together with C2's AI-based automated decisioning and integrated e-signature capabilities, enables customers to apply online, receive a near-instant decision; and, upon acceptance of the approved terms, e-sign their closing documents within moments of completing their application request.
"We are excited about leveraging CSi's most recently deployed technology within our Covalent lending solution. The artificial intelligence capabilities of the unified solution enable lenders to move toward a digital self-service model," said Stephen G. Sargent, president and chief executive officer of C2 Systems. "In much of the banking sector, the norm continues to be outdated and disconnected software that only supports multi-hour, or in some cases, multi-day experiences--from the time a customer applies for a loan until they sign the loan agreement and receive their funds. Pairing Covalent with the fully integrated CSi solution dramatically streamlines processes that now take hours or days down to seconds or minutes; we think this is going to be a real game-changer. Our mission is to enable community and regional banks and credit unions to provide an exceptional customer experience using tools on par or better than those custom developed by the biggest players in the industry."
"CSi is very excited about our new partnership with C2 Systems. Our core competencies are delivering compliance solutions through technology and partnering with industry thought leaders like C2 Systems. Their lending technology is an ideal fit with our Simplicity compliance application suite, which delivers a new level of compliance configurability that automates many repetitive runtime steps. Our joint solution will provide lenders with the tools to process compliant transactions more quickly and focus on loan portfolio growth," said Ronny Chapman, Chief Strategy Officer of CSi.
About C2 Systems
C2 Systems, LLC is a leading developer of cloud-based, automated credit application decision support technology. Clients use C2 Systems solutions to quickly and consistently process consumer and small commercial loan applications from point of sale, through underwriting and document preparation, with an integrated hand-off to the financier's loan servicing platform. C2 Vision offers a rapidly deployable data aggregation and decision engine for larger lenders. C2 Covalent provides community and regional banks, finance companies and credit unions with digital banking tools equivalent to those used by the largest national lending institutions.
For more information about C2 Systems, visit http://www.Go-C2.com, or http://www.linkedin.com/company/c2-systems-usa/
About Compliance Systems, Inc.
Compliance Systems is a best-in-class provider of financial transaction technology and expertise headquartered in Grand Rapids, MI. With more than 25 years' experience with financial transaction data analysis and documentation, Compliance Systems currently supports content configuration and compliance risk management at more than 1,300 U.S. banks and credit unions. The Compliance Systems warranty covers all 50 states and the District of Columbia, giving clients confidence that documentation meets compliance and legal needs. Compliance Systems minimizes transaction risk and reduces resource expenditures so that institutions can focus on business development. For more information, please visit http://www.compliancesystems.com.
SOURCE C2 Systems LLC
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