First Investors Financial Services has implemented Defi Solutions‘ loan-origination system and reporting tools. Rollout of the two cloud-based products took four months, according to a press release.
First Investors will use Defi LOS, as the system is called, to support its underwriting processes, including scorecard development, auto decisioning, and deal structuring. It will use Defi Analytics to report and analyze internal data.
First Investors first set out to improve its loan-origination system back in 2017, but that launch was delayed nearly six months, according to a Kroll Bond Rating Agency presale report.
