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How many applications does LSI process in their National Loan Processing Center (NLPC) each month?
The NLPC processes more than 20,000 consumer loan applications on average per month including direct, indirect and Internet. In June of 2005, LSI processed its two millionth consumer loan application.
What type of training are your representatives put through before being placed full-time in your call center? What type of ongoing training do they receive?
Our goal is to exceed your members' expectations on each phone call. The lending sales representatives are required to use your member's name, share the moment on the purchase and compliment current business with your institution on every call. Our training program includes the following:
Tier I & Tier II
—Two weeks of classroom training to teach and develop new hires' basic lending skills
—Four weeks of hands-on training with live applications in the NLPC
Tier III & IV
—Two weeks classroom training to learn decision-making, reading credit reports and capturing cross selling opportunities
—Four weeks of training with live applications in the NLPC, culminating with a four hour comprehensive exam
Continuous Training
—Breakout sessions take place quarterly to enhance: cross-selling, decision making, reading credit reports and member service skills. The NLPC is divided among trainers who are responsible for doing spot checks and one-on-one training for each individual lending representative.
What type of quality assurance program do you have to insure that the loan decisions are completed according to individual credit union quality and service requirements?
All of our calls are recorded for quality assurance and our loan applications are audited for accuracy within our proprietary software as well as by our call center supervisors and trainers.
Are there multilingual lending sales representatives in the NLPC?
Yes, the NLPC staffs multilingual call representatives based on forecasted volume to match the Spanish and French speaking needs of our clients.
Do LSI's lending sales representatives cross-sell additional services if it appears that the member qualifies for them?
Our representatives will cross-sell all of your products and successfully do so on approved applications approximately 75 percent of the time. Cross-selling is a top priority of the NLPC and will result in increased cross-selling success within your own financial institution.
What is the average turnaround time on an application?
On average, it takes 15 minutes to complete a telephone application, build the loan and cross-sell additional products. You will receive the application immediately upon completion. The application may be faxed, or in most cases, downloaded to your financial institution. A seamless download solution is our goal for each of our clients. Currently, we have download solutions in place for Summit, Symitar, XP Systems, Harland Financial (Ultradata) and several other such interfaces are near completion.
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