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Aimbridge News Detail

Aimbridge®, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced a new company name, Aimbridge® Lending Solutions, to capitalize on its comprehensive industry offerings. The company's new product suite, AimbridgeConnect™, offers complete front-end lending with direct, indirect, and Web-based solutions using its proven indirect workflow management platform.

"It is a priority for Aimbridge to continue to grow and expand to meet and exceed the constantly changing demands of credit union lending," Steve Bentley, president and CEO at Aimbridge Lending Solutions, explained. "We have added direct lending solutions and innovative Web-based options to help credit unions excel in the competitive and dynamic lending market. Aimbridge Lending Solutions more accurately reflects our multiple products offered through multiple channels and our goal to combine to provide credit unions with the necessary tools to contend in a financial services market where they must continuously compete for their members' business."

The Illinois Credit Union League (ICUL) is one of Aimbridge Lending Solutions' first customers to use a product in the direct lending suite. The company began using AimbridgeConnect in 2006 and was so pleased with the product that in 2007, the League decided to look for a new company to provide credit decisioning for almost 200 credit unions.

"Based on what we were doing with indirect lending, we wanted to use an Aimbridge Lending Solutions product for credit card decisioning," Philip Curle, manager of the loan services department at ICUL, said. "We felt that in addition to saving money, the transition would be easy because we'd already experienced a considerable amount of success working with AimbridgeConnect. In fact, after we made the decision to use Aimbridge's credit card product, we were able to train all the staff quickly on the [credit card] product and have operations up and running in just two days."

Since deploying the product, ICUL has seen a reduction in the amount of time it takes for the loan department to process a credit card application because there are fewer steps and the reporting process has also been streamlined and become more efficient.

"The new reporting capabilities have had the biggest impact," Curle added. "Instead of entering the information manually, we can simply import the data on the credit card application directly from AimbridgeConnect. It allows us to cut down on both processing time and human error."

ICUL executives say that they enjoy the product's scaleable, customizable features, which provides them with the ability to create the scorecard used for the credit card decisioning while having full control over setting the product rates. ICUL also has the option to tap the product's automated custom card decisioning engine if there is a significant increase in application volume.

"Aimbridge Lending Solutions has designed software that fits the needs of credit unions, rather than requiring us to shape our lending processes around the product," Curle said. "The credit card decisioning product has brought so many back room improvements that we've been able to make the transition and become more efficient without missing a beat."

About Aimbridge® Lending Solutions
Since 1984, Aimbridge Lending Solutions has partnered with credit union and automotive dealers to market auto loans and insurance products. The company hosts a single platform through which direct, indirect and Web-based lending solutions help its partners increase automotive lending and ultimately increase revenue.
The company, headquartered in Englewood, Colo., has remote offices throughout the United States. For additional information call 1.888.400.2865 or email info@aimbridge.com.