PNC Selects Dorado Unified Point Of Sale For New Wholesale Home Equity Channel
San Mateo, Calif.—Nov. 29, 2005—Dorado Corporation today announced that PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), has selected the Dorado Unified Point of Sale as the foundational technology for the bank’s new wholesale home equity channel.
PNC Bank, the nation’s 15th largest home equity lender, is developing a broker network across its consumer banking region. The Dorado Unified Point-of-Sale solution, leveraging Dorado ChannelMaster® and PriceMaster®, will provide a network-based, on-demand solution for PNC brokers to originate, price, and submit home equity loans and lines of credit at the point of sale.
The Dorado Unified POS is intended to integrate users across the wholesale channel, enabling real-time collaboration and on-demand access to the systems, information and networked services required to close loans efficiently and accurately. It is also designed to provide PNC business managers with a centralized view of the entire wholesale loan pipeline including customer information and loan status.
“We understand the importance of providing fast and reliable service to this segment and believe a partnership with Dorado can facilitate the entrance into this highly competitive industry,” said Jonathan Cooper, vice president and director of PNC Home Equity. “Dorado’s implementation of similar systems at other lenders will enable PNC to offer a proven e-commerce platform relatively quickly.”
Both ChannelMaster and PriceMaster are built on a service-oriented architecture designed to leverage industry standards and protocols. This design makes integration with legacy LOS systems and external services faster, easier to maintain, and more cost-effective to implement.
“Brokers are demanding excellent service from their lenders,” said Dain Ehring, CEO of Dorado Corporation. “Standardization via Dorado technology is designed for PNC to rapidly build broker loyalty based on superior products, services and delivery through best-of-breed technology. Dorado wants to help PNC focus on what the bank does best – driving a high level of volume, service and responsiveness in home equity lending.”
About PNC Bank
PNC Bank, N.A., a member of The PNC Financial Services Group, Inc., is one of the nation’s largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
Dorado Corporation
Dorado Corporation delivers an on-demand network of applications and services to the home lending point of sale. Dorado’s innovative network-based solutions are utilized by numerous top- and emerging-tier lenders and today enable more than 190,000 lending professionals to increase efficiency and productivity at the point of sale. The solutions also drive cross-sell/up-sell opportunities by increasing workflow flexibility and simplifying technology integrations for leading lenders such as Chase Manhattan Mortgage Corporation, Citi, Countrywide Home Loans, and Washington Mutual. www.dorado.com
Copyright © 2005 Dorado Corporation. All rights reserved. Dorado ChannelMaster and Dorado PriceMaster are registered trademarks of the Dorado Corporation. Dorado, the Dorado logo, Dorado SourceMaster and Dorado .MOR are trademarks of Dorado Corporation. Other company and/or product names may be trademarks or registered trademarks of their respective companies.
Press contact:
Melinda Mattei
Dorado Corporation
650-227-7329
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