The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Teres Solutions Kicks Off 2010 with New Customers

AUSTIN, Texas--Teres Solutions™, Inc., one of the top providers of direct, indirect and merchant lending software, today announced that it signed a number of new clients for its SAIL® lending platform. Recent credit union and financial institution customers include Campus Federal Credit Union, First Financial Credit Union of New Mexico, Credit Union West, MaPS Credit Union, Energy Capital Credit Union, Robins Federal Credit Union and Hudson Valley Federal Credit Union. Together SAIL software customers manage $6.7 billion in annual direct and indirect loan volume.

“As a result, SAIL customers are growing their businesses in new ways, while improving efficiencies.”

“The SAIL software offers a wide variety of choices and flexibility when it comes to customizing the platform for our unique lending requirements,” said Tony Rohrmeier, VP, Operations and Risk Mitigation for Hudson Valley Federal Credit Union. “In addition, the efficiencies and productivity benefits the application provides to our front-line and lending staff is highly valuable to our organization.”

Helping to spur its recent customer growth were a number of technology integration partnerships Teres Solutions completed over the past several months. These partnerships are making it easier for credit unions, CUSOs, banks and finance companies to automate and manage more kinds of lending with the SAIL platform. Recent deals include:

  • In late 2009 Teres Solutions linked the SAIL platform with Loanliner.com to create a new product called Advanced Direct-Web. The combined offering allows Teres Solutions customers to further streamline their lending processes and provide members with instant decisions on loan applications submitted via the web.
  • The RateGenius direct-to-consumer auto loan refinancing solution was integrated with the SAIL platform. This allows credit unions and financial institutions access to auto loan refinance and insurance applications submitted through the RateGenius system, further expanding their direct lending businesses.
  • Through its integration with the Andera and uMonitor account opening platforms, SAIL software clients can now provide new account holders with instant online offers for loans and other services. Account holders can receive responses for applications they submit within seconds. The integration provides a powerful and convenient link between online account opening and automated lending services.

“We continue to expand the capabilities of the SAIL platform through innovative new features and technology partnerships with top vendors,” said Tim Kelly, CEO of Teres Solutions. “As a result, SAIL customers are growing their businesses in new ways, while improving efficiencies.”

The Teres Solutions SAIL software family is used by some of the nation’s most successful credit unions, lending CUSOs, banks and finance companies to automate their indirect, direct, merchant and web-based lending processes. SAIL lending software significantly reduces the time it takes to review loan applications, request and review credit reports, enter data into core systems, make lending decisions and quickly respond to dealers and members. To date the SAIL platform has processed billions of dollars in direct and indirect lending loan volume.

For more information on Teres Solutions, visit www.teressolutions.com.

About Teres Solutions, Inc.

Teres Solutions™, Inc., a wholly-owned subsidiary of CRIF, was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL®) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft Gold Certified Partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.

About CRIF

CRIF is a global company specializing in the development and management of credit reporting, business information and decision support systems. Established in 1988 in Bologna, Italy, CRIF has an international presence – operating in over four continents, including Europe, America, Africa and Asia.

SAIL is a registered trademark and Teres Solutions is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.