Valeyo Announces Major Investment in its Core Lending Technology
TORONTO, April 24, 2019 /CNW/ - Valeyo, a leading solutions provider to the financial services industry, announces the company is making a 5 year, multi-million dollar investment in its lending and insurance technologies to drive rapid development, innovation and transformation of its proprietary solutions.
"The business environment is changing. Technology is essential to competing in the market and we are taking the lead in evolving our core systems to support the type of integrations and models necessary to respond to future industry needs," says CEO Nicole Benson. "This investment will open up opportunities for Valeyo to both lead and collaborate as a key integrator with its credit union, financial services and Fintechs partners."
The multi-year investment will see major enhancements to Valeyo's proprietary Loan Origination System (LOS), with a focus on developing an open, secure API model. This initiative will enable integration and connection to a number of third-party providers and core systems, facilitating lending efficiencies and an omni-channel experience.
Valeyo will also create a proprietary digital lending platform fully integrated with its LOS and will collaborate with many leading digital technology providers to truly serve as a core integrator. With an increased demand by lenders and consumers to move the lending process online, Valeyo is responding to its partners needs by delivering an enhanced member experience, and true end-to-end lending experience based on a proven and established LOS solution. For Canada's credit unions, this investment will support them in facilitating simple integration to core systems such as CRM and ECM, and auxiliary systems of choice, providing them the ability to define their institution's experience through plug and play integration.
Other enhancements will include a modern look and feel, and added functionality through improved workflow, and new lender and member self-service features.
Adds Benson, "This is much larger than a fixed commitment to technology. It is a long-term investment in the future of our partners and of the lending and insurance ecosystem in Canada. Our LOS is a core technology for a number of Canadian Credit Unions. By opening up its functionality, we are giving our partners more choice in systems they can connect with, we are opening up opportunities for third-party partnerships through integration, and we are contributing to the growth of the credit union market by helping our partners be competitive in the financial industry space. All of these are the right components of maturing as a key distribution player in our market".
About Valeyo:
Valeyo is a leading Canadian-based provider of insurance and delivery solutions to the financial services industry. At Valeyo our focus is on bringing together the right products, solutions and services to help our partners thrive. It's more than a promise. It's the foundation of how we work. And for more than 40 years, we have been creating the connections with people, partners and industry to drive collaboration, revenue growth and opportunity for all our partners. For more information, visit www.valeyo.com.
SOURCE Valeyo
Media Contact: Jacqlyn Marcus, 416-319-9102, [email protected]
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