CIG moves away from a system that was impossible to update

CIG was using a true 'legacy' system that was nearly impossible to update.

Company Overview

CIG Financial, headquartered in Irvine, Calif., is an indirect automobile finance company that helps car dealers provide financing for their customers. CIG has more than 30 years of service and is currently lending in 18 states.

Business Challenge

CIG was using a true 'legacy' system that was nearly impossible to update. They weren't able to grow their business like they knew they could, and they couldn't service loans the way they wanted to. They needed a more sophisticated and flexible system.

The Solution

CIG not only chose NLS, they learned to use it to its fullest capacity. The data richness of NLS, including the numerous user defined fields, provides for almost unlimited reporting capabilities. The open and standard NLS back-end database simplified their need for extensive reporting.

CIG has taken advantage of the work flow tools in NLS to build workflows for all specialized servicing including bankruptcy, insurance loss events, consumer litigation, and more. Most recently, they moved the amortization of origination fee income into NLS, allowing them to do away with another manual report and just take the earning details right out of NLS.

Most loan servicing systems are designed for the customer service and accounting teams, leaving the special groups - such as those handling bankruptcies and repossessions - to make do with using the data they can find. NLS supports all of these groups, increasing productivity and accountability for everyone.

Another benefit to NLS is the ease of making minor changes to configurations. Most systems require a computer programmer who can write code, but Nortridge deliberately designed NLS so that anyone can make basic changes right in the user interface without needing help from IT.

Results

Since going live on January 1, 2014, CIG immediately realized higher efficiency. "We can now measure productivity and effectiveness like never before," said Mike Pavlin. "The system is easy to navigate and requires fewer keystrokes to get tasks done. But it's the real-time feedback that really makes a difference. Our team likes the instant feedback because it helps them understand how they're spending their time so they can adjust for greater efficiency."