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Contact:
Edward Guerin
MeridianLink, Inc.
(714) 708-6950
Edward@meridianlink.com
Dennis Madson
SOSystems
(801) 222-0200
Dennis@so-sys.com
SOSystems establishes seamless credit integration
using MeridianLink's credit technology
COSTA MESA, California – July 15, 2003 –SOSystems
has partnered with MeridianLink, Inc. to integrate advanced
credit reporting technology to their suite of credit
union products, adding a key component to their Centryx®
core data processing system. With the addition of credit
reporting technology, credit unions utilizing SOSystems
will have the capability of pulling credit data directly
from the national repositories for use in their loan
origination and automated decisioning modules.
The rise of automation in credit union lending technology
underscores the importance of accurate credit reporting
to make high-quality decisions. With the integration
of MeridianLink Internet credit reporting technology
and SOSystems, credit unions gain access to accurate
evaluation of merged credit data. “Integration
with MeridianLink will enable credit unions simplified
tri-bureau access, quick and easy report evaluation,”
says Dennis Madson, Product Marketing Director at SOSystems.
Some features of the integration include automatic
loading of liabilities for the calculation of debt ratios
and net disposable income calculations. Using MeridianLink’s
powerful merge logic, duplicate tradelines are efficiently
identified and eliminated, resulting in accurate and
easy to read credit reports. “[The goal of the
integration is] to provide our customers with a single,
fast access point for all three credit bureaus,”
notes Madson. "reports generated by MeridianLink's technology
are much less code oriented and are very descriptive
in all areas of the report.”
The credit reporting technology is derived from MeridianLink’s
experience in providing Web-based credit reporting technology
for other sectors of the financial information industry.
“We’ve successfully deployed Internet-based
credit reporting technology to over 1,000 companies
nationwide,” says Tim Nguyen, Senior Vice President
of MeridianLink. “Credit unions trust SOSystems
to deliver core processing solutions that are effective
and easy to use. We’ve built the same reputation
on our Internet credit reporting technology so we could
not imagine a more perfect fit.”
ABOUT MERIDIANLINK, INC.
MeridianLink, Inc., is an Application Service Provider
of enterprise business systems for the financial information
and services industry. MeridianLink enables financial
institutions to transform the way they interact with
customers using powerful technology solutions that are
flexible and cost-effective. A trusted technology provider
for credit unions, MeridianLink has successfully deployed
many web-based systems with applications in mortgage
credit, auto credit, indirect lending, and automated
loan pre-qualification. Based in Costa Mesa, California,
MeridianLink’s goal is to create smart business
solutions that add real value. For more information,
visit http://www.meridianlink.com
.
ABOUT SOSystems
SOSystems is a premier provider of business adaptive
information processing solutions, designed to meet the
changing needs of credit unions and backed by superior
support and service. The strategic value SOSystems delivers
to credit unions is use of technologies that enable
easy and cost-effective management of member data, both
in accounting terms, and also by facilitating a strategic
view and analysis of member based transactions. SOSystems
is first in member-centric data processing, member focused
and technology driven. Please visit http://www.so-sys.com.
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