Seasons Federal Credit Union announced late last week that it would adopt loan decisioning technology from Verde Advisor.
Howard Brady, Chief Lending Officer for Seasons FCU highlighted the way the technology would help the credit union improve its lending strategy by being able to provide credit to a greater percentage of its membership.
“Specifically, Verde’s model enables us to responsibly serve the entire credit spectrum while increasing our net credit margin,” he said.
The announcement means that Seasons FCU will run Verde’s Aurora and Corona solutions in tandem. Aurora is Verde’s automated, decisioning optimization engine. Corona is the company’s loan origination technology. Verde Advisor demoed Aurora at the company’s Finovate debut earlier this year at FinovateSpring in San Jose.
Patrick Reily, Verde Advisor co-founder and CEO, said, “As one of the first credit unions to deploy Verde Aurora, we look forward to helping them better serve their members through more effective pricing and instant, optimized underwriting.”
Based in Middletown, Connecticut, Seasons FCU has more than 18,000 members and more than $140 million in assets. Seasons FCU offers a number of services (namely, Kasasa) courtesy of another Finovate alum, BancVue.
Verde Advisor was founded in 2006, and is headquartered in Atlanta, Georgia. Read our Behind the Scenes conversation with the company here.