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Northwest Bank Adopts Inovatec LOS to Enhance Loan Processes
Inovatec Systems, a provider of cloud-based software solutions, announced that Northwest Bank has implemented Inovatec's Loan Origination System (LOS). This platform aims to streamline the bank's loan origination processes for automotive and power sports lending. Northwest Bank, based in Columbus, Ohio, serves customers across Pennsylvania, New York, Ohio, and Indiana.
John Guidone, Senior Vice President at Northwest Bank, highlighted competitive advantages such as faster decision-making and reduced operating costs. The system is designed to automate various aspects of the loan origination process, including application scoring and reporting.
Inovatec's cloud-based LOS architecture supports scalability and configurability, integrating with third-party services like income verification and fraud detection. CEO Vlad Kovacevic emphasized the system's flexibility and cost benefits in adapting to customer and industry needs.
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