First Investors Financial Services (FIFS) is now using a pair of cloud-based loan solutions fueled by defi SOLUTIONS.
Officials highlighted the Houston-based subprime auto finance company went live on the defi loan origination and analytics systems (defi LOS and defi ANALYTICS) in just four months.
“We needed an innovative platform and partner who understood our business and could stand up the system quickly,” FIFS president and chief executive officer Tommy Moore said.
“Throughout every twist and turn of this project, the defi team was professional and timely. They gave us just what we needed: a strong partner and advocate during this critical transformation,” added Moore, who was the 2017 Subprime Auto Finance Executive of the Year.
The company added defi LOS supports FIFS’ need for sophisticated underwriting that includes custom scorecards, auto decisioning and auto deal structuring, as well as analytics and reporting from near real-time data. With system enhancements added weekly, defi founder and chief executive officer Stephanie Alsbrooks said defi LOS will allow FIFS to better serve its customers now and well into the future.
“FIFS has been a principal player in the automotive finance market for more than 30 years, and we’re excited to work with them and ensure they have precise control over their lending processes,” Alsbrooks said. “Now that their defi system has gone live, we look forward to partnering and innovating with FIFS to help them achieve the goals they set in the years to come.”