Navy Federal Picks Software Specialist to Help Build In-House LOS

MERRIFIELD, Va. – Navy Federal Credit Union will soon begin building its own automated loan origination system with the help of a New Jersey-based enterprise software specialist. The $25 billion CU (www.navyfcu.org) has contracted with Provenir, a provider of enterprise software for managing customer lifecycles, to support development and operation of the new LOS, a project expected to begin this fall, the company says. The world’s biggest credit union will work with Provenir specialists to create a knowledge transfer mechanism for Navy Federal staff to quickly incorporate best practices and develop advanced application management skills, the company says. “The credit union was extremely thorough in examining potential software vendors and products to ensure that their members would benefit from a better, more responsive lending process. Provenir is committed to helping financial institutions save time and money in all their customer interactions and associated back office practices.” says Jeffrey Oulton, chief operating officer of Provenir (www.provenir.com) in Parsippany, N.J.