For Immediate Release
iLumen™ Helps Regional Banks Enhance Business Banking
Univest Bank and Anchor Bank benefit by tapping into the same iLumen technology platform used by large corporate banks
ATLANTA--(BUSINESS WIRE)--Atlanta-based iLumen Inc., a leading provider of financial data analysis and commercial portfolio management tools, today announces the general availability and use of its platform by community and regional banks. Like many large corporate banks, regional banking leaders like Univest Bank and Anchor Bank have implemented iLumen’s commercial platform to grow, control and better manage their Commercial & Industrial portfolio.
iLumen’s Portfolio Connection platform unlocks the power of legacy data and enables lenders and relationship managers to indentify new business and manage a larger portfolio. "Portfolio Connection automatically analyzes my customer portfolio and highlights new customer opportunities based on their financial performance," said William Maeglin, Executive Vice President of Corporate Banking, Bucks County at Univest National Bank and Trust Co. in Pennsylvania. "Using the automated client pitch book reports and benchmarking comparisons, I can easily create a customized client presentation with value-add financial analysis that helps me deliver a more consultative approach to engaging customers and prospects. It’s a clear differentiator in winning client approval and closing new business."
Further enabled by iLumen’s iDEA data platform, a bank can migrate legacy data to a new credit analysis platform while improving data quality. "iLumen’s iDEA data platform and expertise in mapping client data was instrumental in helping us upgrade our lending technology while at the same time improving the quality of our customer data for risk compliance," said David Marks, Director of Information Services for Anchor Bank. "Using the system as an enabler, we were able to cut the time and cost of converting our legacy data by over 50 percent."
Community and regional financial institutions can add another point of customer interaction with a client facing web portal, powered by iLumen analytics that allows the client to easily report their latest financial information directly to the bank via a secure interactive portal. Business owners benefit from valuable business analytics, reports, and even industry benchmark comparisons that are presented in real-time through the platform. The lender receives more frequent reporting from customers, allowing them to better anticipate customer needs and advise on solutions. "The iLumen system is a great asset to help us serve our commercial accounts as a financial partner," revealed Maeglin. "The dashboard of company information combined with graphical reports has changed the way I interact with clients."
About Univest Bank
Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania (www.univest.net)
and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery
and Lehigh counties. Univest National Bank and Trust Co., a member of the FDIC and an Equal Housing Lender, offers customers 32
financial service centers, 12 retirement financial services centers, and 38 ATM locations throughout the region, and is the parent
company of Univest Capital, Inc., a small ticket commercial finance business. For more information on Univest Corporation of
Pennsylvania and its subsidiaries, please visit www.univest.net.
About Anchor Bank
Anchor Bank Saint Paul, N.A. is an independent charter of Anchor Bancorp, Inc., a privately owned $1.2 billion Minnesota-based,
multi-bank holding company with 17 locations in the Twin Cities. Each bank within the group – Anchor Bank, N.A.; Anchor Bank Saint
Paul, N.A.; Anchor Bank Heritage, N.A.; and Anchor Bank Farmington, N.A. – is independently chartered and operated in order to
better meet the unique needs of the communities they serve.
Anchor Bancorp, Inc. attributes its success to its philosophy of providing customers with exceptional service. Anchor’s independent community bank structure enables each bank within the group to make decisions locally while using the collective resources of the group to provide the types of products and services found at the larger national and regional financial institutions.
About iLumen
iLumen, Inc. provides technology to capture, standardize, analyze and distribute company financial data in order to
solve critical problems in risk management, relationship management and financial oversight within the banking,
accounting and corporate environments. iLumen's services are based on a proprietary business intelligence and data
mapping engine that delivers clean, accurate and timely customer data to enable efficiency, customer intelligence,
and competitive advantage . For more information visit www.ilumen.com or call 888-663-8003. iLumen™, iDEA®,
Portfolio Connection® and Customer Connection® are trademarks of iLumen Inc., all rights reserved.