LSI, Securian, IA Systems to Offer 3-D Lending

ST. PAUL, Minn. – Lending Solutions Inc. has partnered with Minnesota Mutual affiliates Securian Financial Network and IA Systems to offer what they call a one-stop solution for loan servicing, processing and protecting. “Technology has never been used this way by credit unions. 3-D Lending integrates delivery channels, products, and high-quality service into one seamless, transparent package for the borrower,” says John Bruder, senior vice president for Securian Financial Network, which provides such products as credit insurance, debt and mechanical breakdown protection and sales management programs. IA Systems offers StreamLend, a paperless loan-origination system that integrates underwriting, risk-based pricing, indirect lending and other capabilities with a credit union’s existing systems. Lending Solutions, meanwhile, links borrower, lender and insurer with a 24-hour lending center staffed with loan representatives experienced in cross-selling via telephone, fax or email. “3-D Lending puts all of a credit union’s resources at the disposal of the borrower in a matter of seconds from any location, be it their own home, an auto dealership, or a credit union branch,” says Deborah Ryan, CEO of IA Systems. “This partnership offers wraparound lending services to credit unions and their members. Borrowing and lending has never been easier or more efficient.” The companies say 3-D Lending will help credit unions stop losing point-of-sale loan protection opportunities resulting from the proliferation of lending channels. It also solves the problem of applications being lost in the limbo of “pending” status by channels whose primary focus is not lending, they say. The companies also tout additional benefits for credit unions, including: * increased loan revenue, fee income and cross-sales potential; * improved customer service without adding staff; * better member retention, satisfaction and borrowing opportunities; * more bottom-line performance and borrower loyalty; * enhanced administrative efficiency, yielding lower costs. “We all offer our services unbundled, but the efficiencies gained from using them together offers opportunities for new levels of efficiency, customization and customer satisfaction,” says Lee Kolquist, president and CEO of Lending Solutions, which was founded in 1994 by Rex Johnson. Securian’s affiliate, Minnesota Life, is the second largest underwriter of credit insurance for credit unions in the country.