S1 Corp Launches Package of Biz Lending App Tools

ATLANTA – S1 Corporation has rolled out the latest versions of its lending solutions. The company, a provider of customer interaction software for financial and payment services, recently launched the latest release of S1 Consumer Lending, S1 Business Lending, S1 Lending Docs, and S1 Credit Origination Server. Some of the newest features include the ability to support multiple credit origination servers and the use of one common database and file server, according to the S1. The pricing definition has also been expanded to allow the ability to define fixed and/or variable pricing for an individual product. The new solutions have also allowed fees to be determined by state and county, with the credit union or bank deciding whether the disclosed fees are based on the applicant’s address, the branch address, or the collateral address. The $2.3 billion Pennsylvania State Employees Credit Union has used S1 solutions since 1999, and since then it has reduced its loan decision cycle from two to three days down to 24 hours, said William Zysk, vice president, lending. Fulfillment turnaround has occurred for 90% of the credit union’s loan applications. “As one of the top 25 credit unions in the country, our goal is to be as innovative as possible and to offer our customers convenient, state-of-the-art solutions,” Zysk said. According to Gregg Olin, general manager of the lending solutions group for S1, “Our customers have guided us to create products and tools that allow them to meet and exceed their stated production and customer service goals, and we are pleased with the successes that they have shared with us.”