Unity Bank streamlines lending processes with Finastra
With Finastra’s Total Lending, Unity Bank has the tools to remain competitive in a strategically important marketplace
New York, August 22, 2018, Unity Bank, whose holding company is based in Augusta Wisconsin, and which has branches in Minnesota, has selected Finastra’s Total Lending solution to streamline its commercial lending and consumer lending processes, including its agricultural lending business.
“At Unity Bank, investing in our communities through lending is an integral part of our business,” said Darrin Wilson, Chief Credit Officer, Unity Bank. “With Total Lending, we will be able to streamline our lending processes to offer our customers the best possible experience, while growing our lending business through improved operational efficiencies.”
Unity Bank sought a comprehensive end-to-end credit management system that could serve the entire life of the loan, from application through booking on the core. It selected Finastra’s Total Lending for its ability to meet this goal, as well as for its ability to integrate seamlessly with its existing core banking system. As a result, Unity Bank will improve the customer experience with reduced decisioning time, improve compliance with dynamic loan documentation, and maximize operational efficiencies with a 360-degree view of all relationships throughout the loan lifecycle.
“Community banks like Unity Bank are integral to the financial well-being of the communities they serve,” said Mike Dionne, Senior Vice President, Community Markets, Finastra. “As competition from larger national banks continues to grow, community banks can remain competitive and even expand their lending business organically by leveraging a single solution for commercial and consumer lending that incorporates origination, decisioning, processing, document preparation, and loan servicing — thus unlocking efficiencies and providing the level of service today’s consumers demand.”
“With Total Lending, Finastra has a lot to offer,” said David O’Connell, senior analyst, Aite Group. “In a recent report, we found Finastra’s client strength to be stronger than any of its peers. Finastra also has a relatively high vendor stability score and a three-tiered structure that enables lenders of all sizes to access a solution with functionality tailored to their needs and scalable as those needs evolve.”
In the report, titled Commercial Loan Origination: Scoping the Market and Comparing the Vendors, Aite Group awarded Finastra “Best-in-Class” status for its commercial loan origination solutions, including Total Lending. The standing reinforces Finastra’s position as the industry leader in end-to-end commercial lending.
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Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology. Please visit www.finastra.com.
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