Truliant Federal Credit Union Reduces Costs and Improves Member Experience with FirstClose Ordering Technology


Share post:

FirstClose, Inc., a leading fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, announced today that Truliant Federal Credit Union (Truliant) is using the FirstClose™ Equity solution’s settlement services ordering platform to enhance and support its traditional, branch-level home equity origination program which is seeing strong year-over-year growth.

Headquartered in Winston-Salem, NC, Truliant is a full-service credit union with more than 30 branches across North CarolinaVirginia and South Carolina serving over 300,000 members. The credit union originates home equity products in-person in its branches. For the past several years, it has kept pace with growing home equity volume by using FirstClose’s settlement services ordering technology to automate back-office manual processes. This, in turn, has helped the credit union pass along savings to members and enhance member satisfaction by significantly reducing turn times.

“As our home equity transaction volume continues to surge year-over-year, FirstClose’s technology has allowed us to cut costs and standardize our home equity lending process across all channels,” said Jackson Braswell, Director of Credit Administration at Truliant. “We pride ourselves on having a ‘members’ first’ attitude and by implementing FirstClose’s technology we’ve been able to drastically improve our members’ borrowing experience and ultimately get them their funds in days rather than weeks or months.”

Also Read: How Big Data is Changing the Way Banking and Financial Organizations Operate

FirstClose Equity is a one-of-a-kind home equity origination solution that reduces operational touchpoints and improves the overall customer experience for borrowers, processors, and underwriters. Automated workflows, including the ordering of settlement services, enable lenders to complete the application through closing process in five to ten days versus the industry average of 45 to 60 days.

“Credit unions are in a unique position to capitalize on the growing home equity market but they need solutions that will help them make these transactions profitable and at the same time delight their members with a superior customer experience,” said Tedd Smith, Chief Executive Officer at FirstClose. “FirstClose Equity is designed to become a centralized resource for all things home equity and by implementing FirstClose Equity, Truliant has been able to cut costs and save time by automating manual processes. We look forward to our continued partnership with Truliant and being able to help them capitalize on this expanding market.”

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

GOBankingRates Is Helping Americans Save More Ahead of National Savings Day

Many Americans strive to save more money but aren't actually taking the steps necessary to do so. GOBankingRates wants...

MassChallenge Announces Open Call for FinTech Startups to Apply for the 2024 FinTech Program

MassChallenge FinTech offers applications for its sixth FinTech accelerator program. It provides a comprehensive curriculum paired with personalized...

SEI Launches Enhancements to Advisor Technology Suite

SEI® today announced the launch of enhanced technology capabilities in its Investor Portal, a white-labeled solution within SEI Connect...

RiverStone International to Drive Investment Strategy with Clearwater Analytics

Clearwater Analytics , a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that...