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05-Sep-03
Minneapolis, Minnesota, and Beverly, Massachusetts, September
5, 2003 - SuperSolutions and Monetrics, Inc. today announced plans to develop a
seamless interface between SuperSolutions’ Daybreak Lending Suite, the
comprehensive lending system that automates all aspects of product financing,
and the Monetrics Decision Engine (MDE) for Originations.
Currently utilizing a traditional credit scoring system, MDE
will deliver an automated solution to effectively process credit decisions for
multiple finance sectors enabling lending companies to gain efficiency and
consistency with their overall underwriting process.
According to SuperSolutions President and CEO Darshan Karki, “The partnership
between Monetrics and SuperSolutions will provide a seamless and automated loan
origination solution for financial institutions that improves credit decisions
with consistency and objectivity.”
The Monetrics Decision Engine is a comprehensive, auto-finance,
loan originations system that automates the human underwriting process while
improving the speed, consistency and accuracy of each decision. Using patent
pending relational technology, MDE processes all aspects of the loan/lease
decision process—not only the traditional credit criteria but also collateral
valuations, stipulations, advances, rates and counter-offers as well. MDE may
be applied to prime, subprime, non-prime loans and leases for either new or
used vehicles. With MDE technology, underwriting decisions can be completed in
as little as 12 seconds, a fraction of the time it would take a human
underwriter to review an application and finalize a loan or lease.
“The Monetrics Decision Engine gives SuperSolutions customers
the highest automation and consistency rates in the industry”, said David
Larson, President and CEO of Monetrics. “Integration of the MDE into the
Daybreak Lending Suite will permit SuperSolutions’ clients to streamline their
approval process and acquire a complete view of a borrower’s total default
risk.” With the Daybreak Lending Suite, SuperSolutions provides a robust,
enterprise-wide software application for financial institutions and consumer
lending organizations to originate, service, and collect secured or unsecured,
open-ended or closed-ended, and fixed or variable rate installment loans, lines
of credit and operating leases. A wholesale floor planning module the Daybreak
Lending Suite provides the tools necessary to comprehensively manage and
monitor dealer financing. With the seamless solution on a centralized Oracle
database, Daybreak Lending Suite has been proven to move more product, enhance
dealer and customer satisfaction,improve business intelligence, mitigate risk
factors and increase profits.
About supersolutions corporation
Based in Minneapolis, Minn., SuperSolutions Corporation, an Oracle Certified
Solution Provider, offers the only comprehensive lending system that automates
all aspects of product financing. The Daybreak Lending Suite is a complete
package of loan processing software that automates lending from origination to
servicing and collections. The fully Web-enabled application is scalable,
user-configurable and user-friendly. With Daybreak, finance companies and banks
across the U.S. more efficiently and cost effectively manage consumer loans,
including those for automobiles, recreational vehicles, boats, motorcycles,
home improvement, home equity lines of credit and other specialty finance
requests.
About monetrics, inc.
Headquartered in Beverly, Massachusetts, Monetrics, Inc.
(www.monetrics.com) develops automated risk-decisioning technology and
decision support systems for the automotive finance industry. Stemming from
their proprietary Decision Engine technology, Monetrics’ suite of products
enables clients to evaluate and analyze multiple risk factors in all decision
making instances, helping to better evaluate a borrower’s total default risk.
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