Loan Zone: Tapping your credit union team’s expertise

Your lending system will be put to best use when your lenders apply their knowledge.

Lately I’ve had a Steve Jobs quote pinned up on my virtual wall, so to speak: “Technology is nothing. What’s important is that you have a faith in people, that they’re basically good and smart, and if you give them tools, they’ll do wonderful things with them.”

There are a precious few quotes like this one from the famous founder of Apple that are more applicable to the way loan origination software, and technology in general, should be administered. The most powerful loan origination system becomes truly valuable when placed in the hands of good and smart people.

Throughout my 15 years in the financial industry, I’ve seen numerous examples of how the lending business unit is not only technologically capable enough to administer the software, but also in many ways better equipped to implement system modifications than their pure technology counterparts. This is because of their insider’s knowledge of the lending department. While information technology definitely plays an important role in the maintenance and stability of the credit union’s systems, business administrators hold a unique position as technologists within the business unit.

So what happens when you combine the skills of an undercover technologist with the experience of an expert lender? The possibilities are endless.

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