ION Bank and VSG LoanVantage Announcement
Orlando, FL., October 15, 2014 – Ion Bank in Naugatuck, Conn., has selected Vanguard Software Group’s LoanVantage to fully automate and enhance its Commercial Loan processing. Tightly integrated with COCC’s INSIGHT core processing system and processed at COCC’s data center, the selection of LoanVantage will allow the $1 Billion bank to take advantage of the combination of two industry leading solutions. LoanVantage and INSIGHT will enable Ion Bank to standardize its Commercial Loan Processes including analysis, underwriting and review, better manage its growing Commercial Loan portfolio and open new market opportunities.
“We are pleased to partner with Vanguard Software Group – a preferred COCC partner that is uniquely positioned to deliver seamless and robust Commercial Lending automation that standardizes and enhances the processes we have in place and enables us to introduce new products in the future,” said Charles J. Boulier III, President and CEO of Ion Bank. “We look forward to a creative and productive partnership with Vanguard Software Group.”
The bank said that its conversion to LoanVantage will yield greater consistencies and efficiencies as well as opportunities to expand Commercial Loan products and markets. Among the consistencies and efficiencies will be a single system, LoanVantage, which is fully integrated to INSIGHT, automating a number of manual processes required to support the bank’s growing portfolio of Commercial Loans. Bank staff will also have more information at their fingertips to make consistent decisions and greater automation to support complex business lending activities which have become increasingly important to Ion Bank’s customer base and Ion Bank’s future growth.
“As our market continues to evolve, we believe that LoanVantage’s robust capabilities and flexibility will be key to our on-going success,” said Mr. Boulier. “Working with Vanguard Software Group and their active User Group, we will have significant input into future capabilities and ensure the nimble movement embodied in our new Ion Bank brand.”
Vanguard Software Group has made its mark on the bank technology market in recent years by forming partnerships with a growing number of financial institutions across the country and especially in the Tri-State Area and Northeastern United States. As innovators in Commercial Loan automation, Vanguard Software Group is a key partner of COCC to deliver a seamless solution to COCC’s Banks and Credit Unions. Commercial Lending is an important strategic initiative for these customers and LoanVantage’s ability to deliver Commercial Loan Lifecycle Management enables them to improve their current processes and expand their market share.
“We know that Ion Bank will actively participate in the vital dialogue that enables us to deliver our industry leading Commercial Lending Analytics, Underwriting, Review and Management solution,” said Mark Hill, President and CEO of Vanguard Software Group. “Automating the complete Commercial Lending process and satisfying every one of our customer’s needs is our focus. Enabling our customers to deliver on their key Commercial Lending initiatives is our top priority. We look forward to growing with Ion Bank in the years ahead.”
About Ion Bank
As an independent community bank since 1870, Ion Bank delivers friendly, personalized service to every customer, every day. Ion Bank is committed to helping customers identify and achieve their financial goals. The bank is better able to serve its customers because it answers to customers and its community rather than investors. Ion Bank is proud to do its part to make its community a great place to live and work. For more information, please visit www.ionbank.com or call Craig Porter at 203.720.5356.
About Vanguard Software Group
Vanguard Software Group is dedicated to building industry leading software for the commercial lending industry. Since 2006, Vanguard Software Group has developed robust solutions for commercial lending working directly with our client partners and focused on differentiating each and every one of them from their competition. Vanguard Software Group’s passion is collaborating with client partners to develop systems that significantly improve the efficiencies, output, analytics and accuracy in all areas of commercial lending.
For more information, please contact John Bagdon at firstname.lastname@example.org at 407.475.0005 x1013.