Metamo launches personal lending automation system for credit unions
Credit unions across the country have started rolling out a new personal lending automation (PLA) system.
Developed by Metamo – a collaboration of Fexco Group and 16 investor credit unions – the new and unique loan decisioning system has been developed as credit unions expand their member services range to include online and mobile access, payments and SME/Agri facilities.
A recent study by Amarach Research, commissioned by Metamo, outlined that more than 40% of credit union members want to see lenders increase digital offerings. It also outlined their desire to see more financial services offered by their credit union.
Alan Kelly, CEO of Metamo, said: “We’re very excited to launch this service, which will transform the efficiency of credit union processes… We know from our research that 9 in 10 credit union members consider themselves loyal to their credit union, and innovative measures like this PLA system, which complement the unrivalled position that credit unions hold in their communities, are key to maintaining this member loyalty.”
Irish League of Credit Unions CEO David Malone said: “The continued digitisation of the credit union sector serves to further enhance the unrivalled excellent customer service credit union members experience on a daily basis. The Irish League of Credit Unions recognises the importance of combining ‘tech’ and ‘touch’ to offer a full range of choices to members in credit unions across the country – for those who want the in branch personal touch, and for those who wish to transact online or through their mobile.”
Metamo plans to expand its digital offerings to human resource management, investment solutions and financial advisory services.