In an announcement at the recent National Conference of the Independent Community Bankers of America meeting in San Antonio, Enhanced Technology Financial Services, Inc. of Olympia unveiled an extension of its industry-leading OSCAR consumer lending tool for use by banks looking for a completely seamless Internet loan origination and servicing capability.

“OSCAR iLoan is an Internet-only adaptation of ET’s incredibly robust OSCAR platform,” explained R. W. Christensen, Jr., ET’s CEO. “It can decision a consumer loan in less than ten seconds, document it in less than 3 minutes and service it for the life of the loan. This is an incredibly fast, simple and cost effective way for banks to capture their own customers’ consumer loans, loans they’d otherwise miss. Costs are absolutely minimal, as substantially less than one FTE can originate and manage more than $20 million of loans per year across the bank’s own website. Not only can those loans drive more than 20 percent net ROE to the bottom line, but it’s also a great way to serve existing customers and prevent poaching of profitable customers by competitors.”.