San Diego, CA (PRWEB) June 18, 2007
JustIQ, the leading provider of information technology solutions for student lenders released IQ Sign, the first electronic signature product designed and built to address the unique needs of student lenders.
The tool enables applicants to provide a digital signature to "sign" the master promissory note and complete the loan application process. The solution eliminates the need to print out the completed application and mail in a hard copy. IQ Sign can also interface with an email engine to allow the applicant to request the delivery of a soft copy to their personal inbox.
IQ Sign communicates with a third party to verify the information provided in the application and assigns a unique signature code to the applicant. Combined with IQ MPN, a custom PDF generator, IQ Sign will automatically populate the signature line of the master promissory note. The solution is seamless for the applicant, accelerates the loan application process, elevates customer satisfaction levels and streamlines lender operations.
IQ Sign is only one component of the company's Intelligent Processing suite of custom applications. Intelligent Processing was designed to automate the entire loan application and origination process. The suite includes:
- IQ MPN - a PDF generator that automatically populates a master promissory note with the applicant's personal information
- IQ Sign - an electronic signature tool used to "sign" the completed application and master promissory note
- IQ Score - an engine that communicates with a third party to check credit history and provide the applicant with instant approval
- IQ Cert - a secure web portal designed to facilitate the transfer of CL4 or CRC files and automate loan certifications
- IQ Disburse - an engine that communicates with disbursement agencies and schools. The tool automatically generates disbursement schedules and roster files.
Olin Hyde, VP of Sales and Marketing for JustIQ, discusses the value of IQ Sign, "The student loan industry is going through unprecedented changes. Margins are disappearing as competition intensifies and more and more customers bypass preferred lender lists by getting loans online. Now more than ever, lenders must provide a great website experience. That translates into providing borrowers with instant gratification. Our Intelligent Processing tools enable lenders to quickly automate all online loan processing. More importantly, we drastically cut development costs. We give new lenders and late adopters a way to immediately catch up to industry leaders with easy to deploy, cost effective processing components that fit together seamlessly. All our components are open architecture -- so they can plug into and enhance the value of existing systems."
JustIQ specializes in providing IT solutions to the student loan industry. We help companies control data collected at every stage of the loan lifecycle. Our tools facilitate precise analysis, accurate reporting and enterprise-wide sharing of all information associated with borrowers and loans. Solutions and services provided include application development, package integration and IT support. To learn more, please visit us at http://www.JustIQ.com.
(858) 457-3200 x112
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