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The Latest In Credit Union Insight & News

Partnership with Visualyse offers Credit Unions faster, smarter lending decisions

May 31, 2021

Wellington IT and Visualyse are delighted to announce an integration that will allow Credit Unions to automate the lending process, resulting in faster and better-informed lending decisions.  

Visualyse is an end-to-end loan decisioning system for Personal, Agricultural, Mortgage and SME loan applications that can fast-track approval recommendations on loans. The integration of this tool with Wellington ITs core system, Scion, facilitates a seamless lending experience for both Credit Unions and their members, providing a quick loan decision recommendation on member applications.  

Colm Begley, CEO at Visualyse spoke of the partnership “We are delighted to be partnering with Wellington IT to integrate our loan decisioning tool for their Credit Union customers 

We had been perfecting the tool ourselves for many years, but we knew we couldn't deliver it in isolation. It has been a joy working with Ian and the team at Wellington IT, their technology is exceptional, and they have a strong core system.  

We’re excited to partner with them to introduce our enhanced loan decisioning tool to the Credit Union market. We believe that this integration will result in substantial time efficiencies and will remove a significant administrative burden, allowing them to do what they do best – provide exceptional member services.  

Simon Foley, CEO at Ballincollig Credit Union is currently using the Visualyse tool for loan applications. 

“The automation of the lending process in Scion through the Visualyse tool will make it quicker than ever to grant member loans and encourage better-informed lending decisions. The fact that we can customise the tool to define our own parameters, as well as call on CCR data, allows us to stay true to our ethos and continue to provide a positive member experience. The tool further facilitates a comprehensive loan rationale and documenting of credit risk mitigation when assessing loans. We are hopeful that this process will lead to fully automated decision making within the credit union risk appetite, allowing us to truly compete through out of hours lending”.   

With the Visualyse loan decisioning tool in place and now ready to be rolled out in other Credit Unions, the next step will be to develop fully automated loan decisions.  

Ian Glenn, CTO at Wellington IT states The integration of the Visualyse loan decisioning tool provides a great addition to the existing range of features in Scion that allow Credit Unions to make faster, better informed loan decisions. The Visualyse integration is already adding real value to the team in Ballincollig Credit Union. We are now working towards the next phase of the integration which is where Visualyse will automatically update Scion with the loan decision to enable automated payout. This integration evidences our ongoing commitment to the development of open APIs and working with partners to promote choice for our customers.” 

For more information on how the Visualyse tool works, join Simon Foley, CEO at Ballincollig Credit Union, and the team at Visualyse on 10th June @ 11am for a demo of the new tool and hear how this is working for Ballincollig Credit Union. Register here