Megasys Makes the Top SubPrime175!

Megasys is thrilled to be selected as a top leader in the auto finance industry for the 10th consecutive year!

Megasys is the leading provider of complete loan servicing systems for the consumer finance industry. Omega is a complete financial loan management system. Our fully-integrated GL and AP systems, configurable workflows, self-service portals, customizable reports, and secure document storage system are just a few included features!

Check out our listing:

SubPrime175

 

To schedule your FREE Omega demo, contact:
Megasys Sales Department
sales@megasys.net
(800) 927-4490

Women in Auto Finance Journal features Maite Vega, COO – Megasys!

Please join Megasys in congratulating Maite Vega for being selected for the 2022 class of “Women in Auto Finance”. Maite was featured in the August 2022 edition of the Auto Finance Journal, spotlighting women leaders in the Auto Finance industry.

Maite has been an exemplary leader at Megasys. Her collaborative style of managing provides her colleagues with a shared sense of purpose. Maite’s knowledge of the Auto Finance Industry is an invaluable asset as Megasys continues to introduce new features and functionality within the Omega Loan Management System, helping lenders succeed and remain a competitive force in the industry.

Check it out: Auto Finance Journal – August 2022

To schedule your FREE Omega demo, contact:

Megasys Sales Department
sales@megasys.net
(800) 927-4490

Megasys Makes the Top SubPrime175!

Megasys is thrilled to be selected as a top leader in the auto finance industry for the 9th consecutive year!

Megasys is the leading provider of complete loan servicing systems for the consumer finance industry. Omega is a complete financial loan management system. Our fully-integrated GL and AP systems, task manager workflow, self-service customer portal, customizable report generators, and secure document storage system are just a few included features.

Check out our listing:

SubPrime175

 

To schedule your FREE Omega demo, contact:
Megasys Sales Department
sales@megasys.net
(800) 927-4490

Megasys – 2021 Reflection

2021 celebrated another successful year of Omega customer base growth. We announced new partner integrations, added new features, and implemented key enhancements to improve the Omega System experience.

The most notable features included:

  • New Feature – Outbound ACH payments from Omega: Currently in beta release and supported with ExpiTrans. Other providers will be added soon.
  • Added a new security feature—Two-factor Authentication.
  • New Feature – send via SFTP or FTPS from Omega to a third party, remote server.
  • New Feature – Automated scheduler for the ability to automate job stream and dayend processes.
  • New Feature – Mass Refund Credit Balance.
  • Added capability for customers to unsubscribe from emails in accordance with Regulation F.

Megasys celebrated 40 years of success in the consumer finance industry at MegaBash. Our hosted celebration in September was a huge success. We had a record turnout of associate partners and customers which was an integral part of our growth through user participation and great system feedback. As a result of customer feedback, we will be incorporating several new enhancements in Omega for further ease of use.

Megasys would like to extend a heartfelt thank you to our current customers and welcome our newest Omega customers that have helped shape our year. Due to our continued growth, we have expanded our development department. We are thrilled to have several new employees join the Megasys family.

Megasys has many great things planned this year. We will continue Omega system client growth with several exciting new features and partnerships opportunities planned.

If you are interested in learning more about the Omega Loan Management System, please contact us at 800-927-4490 or sales@megasys.net.

 

We’d love to hear from you!

Happy New Year!

 

Illinois Rule Announcement

Dear customers,
 
As you may have been informed, Illinois governor Pritzker has signed SB1792, the Predatory Loan Prevention Act. The Predatory Loan Prevention Act goes into effect immediately.
 
Megasys has been closely monitoring the progression of SB 1792 and has already begun implementing calculation changes in order to help our clients and stay in compliance. We are also aware of the requirement to report all loans/contracts to the State of Illinois by way of Veritec. We are in close communication with this agency, and were advised that they would let us know once they implemented the needed changes on their end for the reporting of the accounts.
 
Megasys has maintained regular communication with industry professionals and trade associations to ensure we are assisting our clients to implement these necessary updates. Megasys has extensive knowledge and experience with the Military Lending Act and the associated computational requirements.
 
We will soon be releasing modifications to your FA system / Omega System and will reach out to Illinois customers to begin consulting with and implementing updates soon.  If your company does not reside in the state of Illinois but is doing business in this state, please contact Megasys support so we can assist you with these forthcoming changes.
 
Please contact Megasys Support at 714-952-9554 or support@megasys.net if you have any questions.

2020 Reflection

Early on in 2020 we all faced an incredible challenge, COVID-19.  There was a lot of uncertainty about how we would manage through these unprecedented times. Despite those challenges we exceeded our expectations as a company and with Omega customer base growth. We are proud of what we accomplished this year, particularly in expanding our offering with new features and enhancements.

The most notable additions included:

  • Customer Portal enhancements along with  including this major feature with the base system
  • a new partnership with ExpiTrans for electronic payment processing
  • upgrading the document creation program to work with any modern PDF creator
  • several new features and enhancements added to existing integrated partner offerings
  • new credit reporting options for COVID-19 affected accounts

Megasys has many great things planned for 2021. We will continue Omega system client growth with several exciting new features and partnership opportunities planned. Megasys will be celebrating its 40th anniversary and looks forward to hosting the Mega Bash celebration as our thank you to our customers and partners for their continued support.

If you are interested in learning more about the Omega Loan Management System, please contact us at 800-927-4490 or sales@megasys.net.

We’d love to hear from you!

Happy New Year!

Megasys Announces the Promotion of Maite Vega & John Fuhrer!

We are thrilled to announce the promotion of Maite Vega to Chief Operating Officer and John Fuhrer to Chief Technology Officer of Megasys.

Maite originally joined Megasys in 1995 as a Support Technician. In 2000, she took a leave to raise a family. Maite returned in 2008 as a Technical Trainer and was later promoted to Installations Manager, where she oversaw all facets of the implementation department.  As Maite’s vast knowledge of the industry grew she contributed her ideas, automating system implementations and increasing overall customer satisfaction, elevating her to Vice President of Installations.  In her new role, as COO, Maite brings a wealth of leadership, management, and vision to drive Megasys’ future direction and continuing growth.

John Fuhrer has been with Megasys since 1999. Starting as a Support Technician, John quickly advanced to the development department. Driven to learn leading-edge programming technologies, John excelled as Lead Developer. A decade later, he was promoted to Chief Software Architect, managing the development team and overseeing all phases of design and development. In his new role, John’s passion for software development will drive the functionality and usability of our products and services.

Please join us in congratulating Maite and John!

 

Megasys Completes SOC1 – Type II Audit

Megasys has successfully completed the SOC I – Type II Audit and has been awarded compliant assessment following an intensive, independent review by Elliott Davis, a national accounting firm.

The Type II report contains the same information as a Type I SOC Report, but includes a more thorough investigation and provides evidence of how we operated the controls surrounding our services to our customers within a specified time frame.

If you’re interested in learning more about Megasys and the Omega Loan Management System, please contact us at 800-927-4490 or sales@megasys.net. We’d love to hear from you!

Megasys 2019 Reflection

Megasys celebrated another successful year of Omega customer base growth. We added new features and enhancements to greatly improve the system experience and performance.

The most notable features included expansion with existing partnerships, Static Pool reports, and the new document presentment feature available within the Customer Portal. We were proud to successfully complete the SOC1 Type II Audit, which awarded Megasys compliant following an intensive, independent review by Elliott Davis, a national accounting firm.

The Megasys User Group event held in May was an integral part of our growth through user participation and great system feedback. As a result of customer input, we incorporated several new base system enhancements for ease of use.

Megasys would like to extend a heartfelt thank you to our current customers and welcome our newest Omega customers that have helped shape our year. Due to our continued growth, we have expanded our installation and development departments. We are thrilled to have several new employees join the Megasys family.

Heading into 2020, our road map includes exciting new Omega features and partnership opportunities.

If you’re interested in learning more about the Omega Loan Management System, please contact us at 800-927-4490 or sales@megasys.net. We’d love to hear from you!

Happy New Year!

New Electronic Document Presentment

Attach Electronic Documents for Easy Viewing!

New Omega document options allow users to attach PDF documents generated by the Omega system to accounts. Attached documents are viewable within the View Account screen, and optionally via the Customer Portal and Dealer Portal. Documents are easily located by date, description or creator.
For questions, contact Megasys Support at 714-952-9554

Megasys 2018 Reflection

2018 celebrated another successful year of Omega customer base growth. We announced new partner integration’s, added new features, and implemented key enhancements to improve the Omega System experience.
The most notable accomplishments this year included general system improvements and new integrated partnerships with Dealertrack and PassTime. We were proud to successfully complete the SSAE 18 assessment, which awarded Megasys compliant following an intensive, independent review by Elliott Davis, a national accounting firm.
Megasys would like to extend a heartfelt thank you to our current customers and welcome our newest Omega customers that have helped shape our year. Due to our continued growth, we have expanded our technical support and development departments. We are thrilled to have them join the Megasys family.
Heading into 2019, we have big plans for exciting new Omega features and partnership opportunities, some of which are planned for first quarter. We look forward to seeing customers and associate vendors at the upcoming Megasys User Group event:
Wednesday, May 15 – Thursday, May 16 2019
Renaissance Long Beach Hotel, Long Beach, CA
Look for MUG registration, including agenda with hotel reservation information to follow soon!
If you’re interested in learning more about the Omega Originations and Servicing System, please contact us at 800-927-4490, or email us at sales@megasys.net. We’d love to hear from you!
Happy New Year!

MEGASYS COMPLETES SSAE 18 SOC1 ASSESSMENT

Megasys has successfully completed the SSAE 18 assessment and has been awarded compliant assessment following an intensive, independent review by Elliott Davis, a national accounting firm.

The SOC 1 audit (part of SSAE 18) is widely recognized for the intensive scrutiny it puts systems of the organization, through, in terms of their control activities related to business processes, which are relevant to user entities’ internal control over financial reporting. The SSAE 18 audit is the new standard and supersedes the SSAE 16 report. The major changes present in SSAE 18 include:

Vendor Management
Complementary Subservice Organization Controls
Written Assertion Requirement

OMEGA – 2017 REFLECTION

With now over 70 installations, 2017 celebrated another successful year of Omega customer base growth. The Megasys User Group event held in June was an integral part of our growth through user participation and great system feedback. We enhanced features with current partner integrations, added new features, and implemented key enhancements to improve the Omega System experience.

The most significant change was the release of the new Omega user interface, which simplified the menu system and modified the main account view, taking advantage of additional screen width.

Heading into 2018, we will continue adding new functionality that will keep us on the leading edge of technology. Several new partner integrations and key features are also expected for release.

Megasys would also like to extend a heartfelt welcome to the newest Omega customers that helped shape our year:

Foti Financial Group
Midwest Acceptance
Platinum Auto Finance
Premier Acceptance
RedRock Financial
Southeast Auto Financial
Thrift Investment Corporation

If you’re interested in learning more about the Omega Originations and Servicing System, please contact us at 800-927-4490, or email us at sales@megasys.net. We’d love to hear from you!

Happy New Year!

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