Navy Federal Credit Union Selects Provenir Platform; World’s Largest Credit Union to Build Proprietary System for Automated Loan Originations
PARSIPPANY, N.J. — Provenir, a leading provider of enterprise software for managing the customer lifecycle, today announced that Navy Federal Credit Union has selected Provenir Platform software to support development and operation of a new automated loan origination system. The Provenir software gives the credit union a single integrated platform for managing lending operations across its extended enterprise.
Founded in 1933, Navy Federal Credit Union is the largest credit union in the world with $25 billion in assets and 2.5 million members. The credit union offers financial services to active and retired Navy and Marine personnel, their families, and civilian contractors. With 109 member service centers and 800 telephone representatives, Navy Federal relies upon sophisticated computing resources to provide fast response and targeted financial products to its members.
“We are proud to be a part of Navy Federal’s support for Navy and Marine families’ financial security,” said Jeffrey Oulton, chief operating officer of Provenir. “The credit union was extremely thorough in examining potential software vendors and products to ensure that their members would benefit from a better, more responsive lending process. Provenir is committed to helping financial institutions save time and money in all their customer interactions and associated back office practices.”
Development of the new loan origination system is scheduled to begin this quarter. Navy Federal Credit Union will work with Provenir professional services implementation specialists to speed development and to create a knowledge transfer mechanism for Navy Federal to quickly incorporate best practices and develop advanced application management skills.
Provenir is a leading provider of enterprise software for managing the customer lifecycle. Founded in 1992, the company’s historical focus on solutions for the financial industry has led to successful implementations at major banks and credit institutions. This proven ability to handle key financial data and processes is now enabling companies in other industries to make use of the Provenir Platform to manage their customer lifecycle interactions.
Companies use Provenir software to create customized systems from a common architecture, letting IT and business collaborate to maximize profitability of operations that impact financial performance. Business applications of Provenir technology include originations, prospecting, account management, collections and recovery, customer service, security, and compliance.
Provenir is privately held, with headquarters in Parsippany, New Jersey. Customers in the United Kingdom and continental Europe are served from offices in London. Asia/Pacific operations are headquartered in Hong Kong. Information about Provenir, the Provenir Platform, and professional services are available on the company’s website at www.provenir.com.
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