Rivermark Community Credit Union Experiences a 20 Percent Lift in Completed Mortgage Applications After Migration to Web-Based

Rivermark Community Credit Union Experiences a 20 Percent Lift in Completed 
Mortgage Applications After Migration to Web-Based Lending
Platform 
Credit Union Operates With Greater Efficiency Using D+H's Mortgagebot
Enterprise Lending Platform 
MEQUON, WI -- (Marketwired) -- 10/02/13 --  Within 45 days of
deploying D+H's Mortgagebot (www.Mortgagebot.com) Enterprise(TM)
platform, Rivermark Community Credit Union, based in Beaverton, Ore.,
saw a dramatic 20 percent increase in completed applications online.
The $575 million-asset credit union used another LOS for more than a
decade prior to migrating to Enterprise -- the end-to-end, "cloud"
platform for capturing applications through every point-of-sale
channel and back-end processing, closing, imaging and secondary
marketing. The strategic replacement with EnterpriseLOS instituted
greater lending efficiency and a 40 percent decrease in loan
processing time.  
Rivermark's Mortgage Department Manager Jeff Miller says, "D+H
Mortgagebot provided a well-designed solution to our disjointed
operations. The quality and technology of the product speaks for
itself." While the decision to migrate from its previous provider was
difficult, the switch to the new platform in June 2013 proved a sound
business decision and a much-needed correction in its commitment to
providing its members with unsurpassed convenience and access. 
"We support Rivermark's positioning and look forward to helping the
credit union simplify compliance, increase mortgage profitability and
ultimately deliver the service it's known for to remain competitive,"
says Matt Cotter, SVP Marketing, D+H US. "The Enterprise platform was
a catalyst in removing the various disconnects that overshadowed
Rivermark's operations. As the first credit union in its state to
offer mobile deposits, Rivermark remains technology-driven and
committed to providing mobile accessibility to its 65,000 members --
its adoption of the Enterprise platform is consistent with these
goals." 
Continuity of Data Vital to Efficiency Gains 
According to Miller, the switch to the Enterprise platform renewed
efficiency with the built-in continuity of data and fully integrated
imaging service. For example, drawing up documents for closing takes
minutes compared with days, in some cases, under the previous system
due to data loss and manual duplication due to using multiple
systems. "Our staff no longer needs to bounce from one system to
another to track and move loans through processing," he says. "All
documents and application data can be found in one spot." Although
Rivermark's previous system offered an online application, the credit
union was not able to fully utilize all of the available options. It
funded and underwrote loans using separate, distinct systems, which
resulted in a clumsy, inefficient experience. With Enterprise, loan
staff immediately noticed the straightforward, easy-to-use interface
and reduced processing time by 40 percent for the approximately 130
loans received monthly. 
The system's automated credit retrieval, underwriting and LOS
integration create a seamless processing environment. Miller says the
lending staff truly appreciates the speed of the system and cannot
believe how efficient and simplified the process has become. They
regularly ask, "Is this really all we have to do?" 
Pricing Model Creates Affordability and Scalability 
The straightforward approach of the Enterprise pricing model was an
attractive draw for Rivermark. Knowing the full costs of a loan
upfront lets Rivermark package an affordable loan, for both member
and lender. Before the switch, the credit union often found that
accessing data after a certain time involved additional costs that
were difficult to pin down. Says Miller, "We now have easy access to
data at an affordable cost, without having to jump out of the system
to retrieve it. Having a web-based platform makes our operations
instantaneously scalable with no additional licensing fee. For
example, Rivermark could easily hire more loan officers [to respond
to market conditions] -- with no additional cost from D+H
Mortgagebot." 
Support System Makes Implementation and Administration Stress Free 
Implementation of the Enterprise platform was painless. "There were
pleasant surprises along the way during implementation," says Miller,
who has been involved in various technological implementations over
the years, including several poor experiences. Most credit unions
lack technical staff dedicated to handling ongoing system maintenance
so, as Miller notes, finding a provider that manages platform
administration without additional cost is critical. Software updates
and maintenance provided by D+H Mortgagebot prevent downtime and
allow Rivermark to focus on service. 
Lending staff can rely on the system to deliver accurate,
compliance-ready disclosures at the point of sale, minimizing errors
and regulatory concerns. The previous system led to challenges in
ensuring accuracy and completeness of compliance requirements. 
Full Integration, Automation Encourage Focus on Membership 
Giving members ease of use in their online mortgage application and
processing was a priority. "We're experiencing fewer abandoned
applications and, in the first month, an increase in people finishing
the application online," says Miller. "Because of built-in alerts,
we've been able to assist applicants if they abandon the online
application due to difficulties or questions. As a result, we've
captured applications we never would have seen before."  
D+H's Mortgagebot EnterprisePOS(TM) platform offers members
around-the-clock, self-serve submission access, along with a
user-friendly application path. Members are attracted to this smart
capability as well as the credit union's mobile rate availability.
"We view adopters of mobile technology as our target market," says
Miller.  
With the Enterprise platform, the credit union can also quickly and
efficiently move a loan to closing -- by removing unnecessary,
redundant manual data entry -- ultimately passing the time-savings on
to its members. 
About Rivermark 
Rivermark Community Credit Union serves more than 65,000 members and
has over $575 million in assets. We're leading the way when it comes
to convenient account access from anywhere, anytime. We're proud to
have been the first credit union in Oregon to offer Mobile Deposit,
so members can deposit paper checks using their mobile device. Like
the members we serve, we're innovative, visionary and technologically
proficient when it comes to work and finances. Membership is open to
anyone who lives or works in 11 Oregon counties. For more information
on Rivermark, visit their website at rivermarkcu.org. 
About D+H 
D+H is a leading provider of secure and reliable technology solutions
to North American financial institutions with a reputation for being
a trusted partner that helps clients build deeper, more profitable
relationships with their customers based on rich industry and market
insight, and consumer knowledge.  
Today, over 6,200 banks and credit unions across North America rely
on D+H to deliver solutions across three broad service areas: Banking
and Lending Technology, including core banking, lending and
compliance, and channel solutions; Lending Processing Solutions; and
Payments Solutions. Our integrated, compliant technology solutions
enable clients to grow, compete, and optimize their operations, while
our forward looking approach helps them stay ahead of the market and
anticipate changing consumer needs.  
In 2012,
 D+H rose to 35th on the FinTech 100, a ranking of the top
technology providers to the global financial services industry, and
is ranked 24th on the 2013 Branham 300, a listing of the top Canadian
ICT companies. 
Davis + Henderson Corporation is listed on the Toronto Stock Exchange
under the symbol DH. Further information can be found at
www.dhltd.com and in the disclosure documents filed by Davis +
Henderson Corporation with the securities regulatory authorities at
www.sedar.com. 
About Mortgagebot Enterprise(TM) 
Mortgagebot Enterprise(TM) is the award-winning, end-to-end lending
technology platform -- offered as a scalable, web-based solution for
financial institutions to maximize their full potential and
streamline all origination processes.  
With Mortgagebot EnterprisePOS(TM), lenders can automate every
point-of-sale channel where business is captured: consumer-direct,
branch, and loan officer, and integrate directly into the all-in-one
Mortgagebot EnterpriseLOS(TM) -- for processing, closing, imaging,
and secondary marketing -- or to third-party loan origination
systems.  
To learn more about D+H Mortgagebot, call: 
Cindy Golisch
President
PR Unlimited
480-471-8820 
cindy.golisch@prunlimited.com 
 
 
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