Akcelerant Releases New Loan Origination Cross-Sell Functionality

Akcelerant, a provider of connected software technology to the financial services industry, has released new enhanced cross-sell functionality within SOLUTION.LENDING, Akcelerant’s loan origination platform, powered by the Akcelerant Framework. This functionality makes use of the Framework’s robust business rules to automatically analyze borrower traits, transaction details, and all elements of the credit report to present qualified cross-sell opportunities.

Recent enhancements to the Akcelerant Framework include the ability to examine all tradeline information as well as other consumer information found on the credit report to produce new loan, replacement, or consolidated cross-sell opportunities during the loan origination process. Through business rules, the Framework reviews each liability to determine if a cross-sell offer is appropriate, and automatically presents all opportunities in a clear, user-friendly, and customizable format as part of the loan origination process. In addition, “assumed values” can be used within business rules for information not found on a credit report, such as interest rate or loan term.

“When developing these new cross-sell features, our main objective was to allow financial institutions to take control of the cross-sell process and gain additional customer or member ‘wallet share,’” states Larry Edgar-Smith, senior product manager at Akcelerant. “With these new enhancements, policies can be automated, and representatives can focus on those opportunities that are most important to the financial institution’s current growth strategy, rather than simply ‘casting a wide net.’”

New business process features have also been added to support cross-selling. When presenting cross-sell opportunities, representatives are now able to communicate monthly savings, review past history, reference unique sales scripts, and prioritize each offer.

“As the economic conditions continue to improve, it is important that financial institutions proactively invest in existing customers or members who have already proven to be low risk,” continues Edgar-Smith, “The cross-sell enhancements Akcelerant has made to SOLUTION.LENDING support this strategy and can positively impact a financial institution’s bottom line.”

Akcelerant, with offices in Malvern, Pennsylvania and Vancouver, British Columbia, provides connected software applications to the financial services industry through multiple product lines and integration to best-of-breed service providers. Approximately 500 financial institutions in all 50 states and all provinces of Canada are currently using Akcelerant technology.