Montreal, March 29, 2012 – Technicost, a well-established Montreal-based software provider of credit and investment management solutions, is proud to announce that G&F Financial Group (G&F), the 10th largest Credit Union in British-Columbia, has selected its TechLOS solution to replace the company’s aging loans origination system.

G&F’s decision came after a thorough review of the loan origination systems (LOS) available on the market. “Technicost’s TechLOS solution stood out head and shoulders above the rest, as it was designed specifically to suit the needs of the Canadian credit union system. In addition, it is fully integrated with the Open Solution DNATM banking system and provides a seamless interface with financial service providers such as CUMIS”, says Chris Goodman, Vice-President, Information Technology, at G&F.

What’s more, Technicost and G&F Financial Group have entered into a joint-development project that will result in “the most well-integrated LOS product in Canada”, reveals Dominic Paquette, Technicost President. “With G&F Financial Group’s help and feedback, Technicost will be able to develop and test several new features that will enable the credit union to improve operational efficiency and productivity in several areas, including insurance sales evaluations and sales opportunities, credit evaluations and approval evaluations”, adds Mr. Paquette. More specifically, the new features will include:

  • Pre-Approval of applications;
  • New interfaces with Landcor, Canadian Black Book, First Canadian Title, Solidifi and Filogix
  • Digital signature capture;
  • Auto decisioning;
  • Default loan pricing; and
  • Import applications submitted online.

“In addition to enabling paperless processes within the organization, the new features will enable G&F to connect seamlessly with the leading credit information support service vendors”, says G&F’s Vice-President of Information Technology, Chris Goodman.

“Technicost is proud to partner with a credit union that is willing to go the extra mile to remain at the forefront of IT developments in order to offer its clientele the most productive and efficient products and services”, adds Mr. Paquette. Implementation of TechLOS at G&F Financial Group will begin in the fall of 2012. The development project, which has already begun, will carry on throughout the year.

 

About TechLOS

TechLOS is a complete tool set for an efficient consumer and commercial lending business, including Lender and Client dashboards, interfaces with Open Solutions DNA™ banking system, legal forms, reports and access to Canadian credit bureaus. The Technicost LOS keeps track of the status of all loans (pending, approved, declined) while significantly reducing document preparation costs and minimizing the risk of loan processing errors.

 

About Technicost

Established in 1982, Technicost is a well-established and recognized provider of software solutions to the financial industry in Canada and abroad. Technicost delivers credit software solutions to over a hundred financial institutions. A combination of financial and technical expertise allows Technicost to understand the business issues behind any technical need, and in return deliver superior products that correspond to the client’s specific needs and expectations. Technicost’s support and development team is located at its Montreal (QC) head office, with sales support in British-Columbia and Europe.

 

About G&F Financial Group (Gulf and Fraser Fisherman’s Credit Union)  

Established 71 years ago, G&F is British Columbia’s 10th largest credit union, with approximately 27,000 members and over $1 billion in assets under administration. Twelve branches span the Lower Mainland throughout six regions, including Vancouver, Burnaby, New Westminster, Port Coquitlam, Surrey, and Richmond. Headquartered in Burnaby, the Credit Union provides a full range of products and services, including retail and business banking, investment advice, insurance, commercial lending and is linked to a Canada-wide Exchange ATM network.

 

Media inquiries:

Dominic Paquette
President
Technicost 514 985-0555
dominicp@technicost.com

 

Steven Comin

Associate Vice-President, Marketing
G&F Financial Group
Office: 604 456-6474 (c) 604 729-4009
scomin@gffg.com