Commerce Velocity Debuts CQ RetailConnect for Retail Lending Channel

CQ RetailConnect creates a higher pull-through rate for loan officers by bringing decisioning with precision-based accuracy directly to the point-of-sale (POS) in real time. CQ RetailConnect efficiently manages and distributes leads to multiple locations and empowers loan officers with point-of-sale decisioning that enables them to instantly build an accurate credit profile, offer best fit products and pricing with side-by-side program comparisons, receive immediate AU approvals, near misses, conditions and exceptions. What would normally be a time-consuming, high-touch loan decisioning situation for loan officers and underwriters now becomes an immediate, intelligent decision that is rendered at the POS, which enables loan officers to sell more competitively and close more loans at their initial point-of-contact with borrowers. Existing clients are reporting that CQ RetailConnect is helping their loan officers to close more borrowers over the phone faster and with far greater accuracy. As a result, lenders are realizing increased profitability and steady growth. In addition to the retail lending channel, Commerce Velocity also offers solutions to the wholesale and consumer lending channels. The companys CQ Decision Suite is an open Web-based system consisting of five integrated modules: CQ IntelliLead, a lead management system; CQ Qualifier, which qualifies borrowers for loan products or pricing; CQ Credit Manager, a credit and debt management system; CQ Underwriter, which automates the underwriting process; and CQ Analyst, a risk management tool. Based on business needs, the modules can be implemented individually or integrated together to deliver an automated loan process from the point-of-sale through underwriting.