Akcelerant Selects Ser Technology?s Proact Consult Solution to Assist Lenders With Business Intelligence Analytics

MALVERN, Penn. – Akcelerant Software, a provider of connected software technology for the financial services industry, and Ser Technology Corporation, a technology services development company, announced today the integration of Ser’s business intelligence analytics service, ProAct Consult, into the Akcelerant Framework.

The Akcelerant Framework is a connected software platform that powers Akcelerant’s loan origination, collection, recovery, and sales/service solutions.  Ser’s ProAct Consult service will be initially integrated to Akcelerant’s highly customizable collection feature set, providing customers with access to robust analytics that will allow them to identify, measure and manage risk and opportunity throughout their portfolio’s lifecycle.  This partnership will leverage the Akcelerant Framework’s workflow capabilities to provide key performance analytics and reporting, easing the risk management, compliance, and regulatory burden. Additionally, Framework customers will have access to allowance for loan loss (ALL) analytics, “what if” scenario modeling for loan pricing, and a risk matrix which rank orders accounts based on specific high risk indicators. 

“The demand for business intelligence in credit unions is increasing at a rapid pace due to a combination of low earnings, historic levels of loan loss, and capital erosion” states Shana Schuh, CEO of Ser Technology. “The integration of ProAct into the Akcelerant Framework will allow lenders to manage their portfolio and collection strategies from within the same platform. It’s an ideal fit.”

Wade Painter, CFO and EVP at Redwood Credit Union, Santa Rosa, California, brought a wealth of experience in Enterprise Risk Management when he joined the credit union.  He works with both the Akcelerant and Ser systems and is enthusiastic about the companies adjoining their technology. “In today’s economic environment, competency in credit risk management is an absolute requisite for survival. This means having the ability to identify, quantify, and mitigate risks within the loan portfolio. Ser’s ProAct Consult solution is highly effective at identifying and quantifying risks. However, our ability to mitigate risks has been hampered by a manual and time-consuming routine for bringing high-risk, non-delinquent loans into the collections process. We are thrilled by the prospect of integrating ProAct Consult and Akcelerant systems since it will allow us to take our risk-based collections approach to the next level and enhance our risk mitigation capability.”

“Based on Redwood’s testimonial, as well as the feedback we have received from other financial institutions, we feel our customers will benefit greatly from the ability to manage and measure risk using Ser’s ProAct Consult service directly though the Akcelerant Framework,” states Jay Mossman, President and CEO of Akcelerant. “Akcelerant has been impressed by Ser’s robust business intelligence technology and is excited to partner with them to create this new Akcelerant Framework connector.”

About Akcelerant Software
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.  For more information about Akcelerant, visit www.akcelerant.com.

About Ser Technology Corporation
Ser, with offices in Dallas, Texas and Qingdao, China provides credit related technology services such as credit pre-screen direct marketing, online loan decisioning, data privacy encryption, ALM, and portfolio management to over 2,000 U.S. credit unions.   For more information about Ser, visit www.sertech.com.