November 14, 2023, Sandy, UT – FLEX, a leading provider of core system software for credit unions has enhanced its integration with Hart Credit Technology to incorporate AI-driven risk models such as Vantage 4 and FICO 10. Hart offers credit unions automated loan decisioning, identity and fraud management, new member acquisition, portfolio intelligence, prequalification, adverse action letters, and risked-based pricing letters.
Currently, auto loans account for a vast majority of all credit applications and requests and are essential to credit unions. FLEX can help you expand and capture this market segment using Hart Credit Technologies’ decisioning power. By incorporating Hart’s decisioning into the FLEX credit reporting system, your credit union can eliminate the laborious task of loan originators checking multiple criteria and performing calculations while packaging it all into an easy and instant process for approval, review, or denial of loans. Many criteria can be used within a decisioning matrix, including RBP, credit score, debt-to-income ratio, loan-to-value ratio, employment, CU membership length, and recent or new trades. It is also possible to include delinquencies, charge-offs, bankruptcies, late payments, liens, judgments, and even exclude medical debt in your decisioning matrix. Customizing your decisioning with Hart has never been easier, especially with today’s AI-driven risk models like Vantage 4 and FICO 10. In conjunction with the applicant’s credit scores, these aforementioned criteria can be used quickly and efficiently to identify the best interest rate. Using Hart would also allow you and your members to instantly get approval even when your CU is closed because potential applicants would be able to apply online even when your CU is closed.
FLEX has disrupted the credit union core system marketplace by enabling efficient solutions for digital transformation and sustainable growth. FLEX will allow credit unions to launch a full-service digital banking suite with innovative member-facing technologies and automated services. Credit unions will buy back lost time by remapping the digital journey and increasing member loyalty. With over 280 credit unions in 46 states including Alaska, Hawaii, and the Eastern Caribbean, FLEX enjoys established relationships with all regulatory agencies, corporate credit unions, and major industry partners. Follow us on LinkedIn.
About Hart Credit Technology
Hart enjoys working with credit unions to help them serve members at the highest levels and implement operational efficiencies with industry-leading technology. Hart’s technology expertise brings great solutions to our customers with the highest level of intelligence for a reasonable expense. We want our customers to be able to maximize the ROI of their technology investment. Bringing industry-leading data along with your policies and growth strategies, we can design a program to fit your business needs and accommodate any budget.