VantageILM and Open Rule Systems Announce Strategic Alliance

20 January 2009

Lending system technology leaders VantageILM and Open Rule Systems have formed an alliance to integrate their respective solutions, creating a seamless automated workflow for loan origination and management.

Open Rule Systems of Grapevine, Texas, provides the most advanced automated loan origination technology in the industry with its Application Process Manager (APM) solution. APM enables lenders to create and automate underwriting, scoring, and decisioning rules while managing the entire origination process flow. VantageILM of Altadena, Calif., provides the lending industry’s only purely web-based Software as a Service (SaaS) full-lifecycle loan management system, from origination through servicing, collections, and recovery.

The two companies have initially built an XML-based interface between APM and VantageILM that moves all data from APM-generated originations directly onto the VantageILM servicing platform. The data flows automatically, over the web, and because the integration is direct, every nuance of the origination process flows through to the servicing, collections, recovery and portfolio management functions. The tight integration also enables advanced performance analytics – every tweak to an underwriting program can now be easily measured against actual servicing performance, using the analytical tools that have long been a part of VantageILM’s solution.

“VantageILM has always provided a robust origination capability,” said Robert Yuan, president and Chief Technology Officer of VantageILM. “Though we’re always looking to advance our platform’s capabilities and like everybody else, we look at building internally vs. using proven, existing technology, if available. Open Rule with APM has built the best origination technology we’ve seen, so integrating was an easy choice.”

Robert Skidmore, president of Open Rule, agrees that the integration makes strategic sense. “Making it really simple for our customers to move loan origination information from APM to an advanced servicing platform has long been a goal for Open Rule, “said Skidmore. “VantageILM meshes perfectly, and the automated combination of the two platforms will be a big win for customers.”

The XML integration technology is available immediately. Please contact either Open Rule Systems or VantageILM for further information.

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