Opening Act – Member application, account opening, consumer loan, and mortgage origination solution

Opening Act is a Web-based origination system that enhances Internet banking sites with the capabilities to securely and seamlessly originate deposit accounts, consumer and mortgage loans, and credit cards.  The system’s deposit account origination capabilities include multiple identity verifications, credit and OFAC checks, and queries against check history.  Funds can be immediately transferred into new deposit accounts via ACH, debit cards, and credit cards.  Pre-filled documents and signature cards are automatically generated, as well as “switch kits” that allow members to close accounts with other institutions, and designate new accounts for direct deposits and electronic bill payments.  Opening Act’s loan origination capabilities allow members to apply for credit cards and auto, consumer, home equity, and mortgage loans online.  The sophisticated pre-qualifying engine analyzes loan and credit data real-time, and typically generates lending decisions in 10 to 15 seconds.  This system interfaces with Fannie Mae Desktop Underwriter, Freddie Mac Loan Prospector, and AVM; validates flood report, title, and tax information; and provides a credit analyzer to help members improve their credit ratings.

* Opening Act is provided through Symitar’s strategic alliance with MeridianLink.