Delta 360 Inc. Introduces Next-Generation Lending Technology
Posted by Bill Rudzitis
Toronto, Ontario (September 19, 2005)
Delta 360 Inc. announced today the introduction of Servicing.LMS360, its next-generation lending solution for Canadian lenders. This full featured, proven loan servicing solution is the cornerstone of Delta 360’s lending suite.
Servicing.LMS360 uses an Application Service Provider (ASP) model to deliver a loan processing solution with minimal start up costs. The ASP model provides lenders with a predictable transaction-based pricing model, which allows lenders to reduce costs and remain competitive despite the downward pressure on their margins. The ASP model also eliminates the need for the lender to manage the system and also eliminates the need to have access to specialized IT personnel, which is becoming a critical risk as IT departments increasingly outsource.
The system is developed on an advanced technology platform purpose built for the development and deployment of large transaction processing software systems. The platforms inherent high-level development environment allows for enhancements to made easily and cost effectively. Out of the box, the system can support various mortgage products including HELOCs, multi-component mortgage, as well as, sub-prime mortgages. In addition, Servicing.LMS360 allows for the processing of various types of retail lending products in addition to mortgages, including line of credits, car loans, and personal loans.
“Our market research indicates that both new entrants and established lenders are looking for alternatives to the currently available servicing solutions in Canada,” said Derek Cook, President, Delta 360 Inc. “We have incorporated both our extensive domain knowledge and customer requirements into the product, in order to provide lenders with a significant advantage from a technology and business point of view.”
Using a hosted solution, and through a highly configurable system, lenders can implement a new system in weeks, instead of months or years, as was required in the past. Our system professionals support you through the entire process to ensure a smooth transition.
“We believe we are providing the Canadian lending market with a superior product and superior customer service,” adds Mr. Cook. “We are excited about the opportunity to showcase this new technology.”
About Delta 360 Inc.
At Delta 360 Inc., we utilize our depth of experience and expertise to deliver solutions for the financial industry, with a focus on the mortgage technology space. Delta 360 Inc. develops highly productive, market driven, enterprise class applications, which provide unparalleled value for our clients. Leveraging our skills we provide a range of services including, application delivery, custom development, project management and a broad range of consulting services. Combining our financial industry knowledge, with our experience in successfully delivering advanced mission critical solutions, positions us well as a premier solutions partner for any financial institution.
Information about Delta 360 Inc. is available on the Internet at: www.Delta360.com.
For additional information, contact:
Delta 360 Inc.