Case Study: King’s Federal Credit Union cuts HELOC cycle time and scales lending with Coviance

King’s Federal Credit Union cuts HELOC cycle to 15 days with Coviance

The customer, King's Federal Credit Union, faced a challenge with its manual and disjointed home equity lending process, which resulted in a lengthy loan cycle. To address this, the credit union turned to the vendor Coviance and implemented its lending experience platform built specifically for home equity.

By using Coviance's platform, which features intelligent automation and communication workflows, King's Federal Credit Union significantly improved its process. The vendor's solution cut the HELOC loan cycle from 30-60 days down to 15 days or less, scaled the number of loans to 75, and increased total loan volume by $4 million in the first year.

King’s Federal Credit Union