iDEA data platform to enable commercial banks to connect, consolidate and standardize legacy data into a common data platform
Vision Software Solutions, a provider of credit risk management software, and iLumen, a provider of integrated financial management systems, have announced a non-exclusive strategic relationship to support and extend the Fiscal Credit Suite using iLumen’s iDEA data platform for risk management and relationship management.
The partnership will include both technical product integrations and co-marketing arrangements.
iLumen has said that its iDEA data platform enables commercial banks to connect, consolidate and standardize legacy data into a common data platform for credit, risk, and relationship management. Fiscal Credit Suite provides business and personal financial statement spreading and analysis that drive credit decisions based on the lender’s policy.
iLumen claims that integrating the offerings enables banks to streamline the life-cycle of commercial relationships from prospecting to underwriting, credit monitoring, risk management and regulatory compliance.
Jeff Beall, co-founder and CEO of Vision, said: iLumen delivers a platform that captures and standardizes customer data and analytics across the enterprise and directly from the customer. The two products are a natural complement. By powering Fiscal solutions on the iLumen platform, our customers will be able to improve the quality and timeliness of data for risk decisions and regulatory compliance, and preserve legacy data as they implement our solution.