Open Lending Partners with CreditSnap to Help Lenders Deliver Informed Decisions, Navigate Refinance Needs
26 1월 2024 - 7:30AM
Business Wire
Lending Enablement Solutions provider teams
with lending and deposit automation platform to offer seamless
pre-qualification and firm loan underwriting capabilities
Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the
“Company”), an industry trailblazer in automotive lending
enablement and risk analytics solutions for financial institutions,
has launched a partner integration with CreditSnap, a fintech
platform that allows financial institutions to deliver lending and
deposit account automation using pre-qualification technology,
application programming interface (“API”) integrations and more.
CreditSnap’s platform pairs with Open Lending’s loan decisioning
engine, Lenders Protection™, to deliver a more seamless lending
process, allowing financial institutions and OEM captive finance
companies to provide informed loan decisions.
The integration with CreditSnap provides Lenders Protection
customers with both pre-qualification and firm loan underwriting
capabilities, as well as an exchange for targeted marketing and
other lead-driven sources. The all-in-one platform pre-qualifies
applicants, prices loans, routes qualified applicants to a loan
origination system and enables third-party fulfillment.
Lenders or refinance partners would typically need to supply a
static rate sheet and keep it up to date. This new integration
allows lenders to avoid the static rate sheet hassle, and instead
rely on the off-the-shelf API integration to dynamically display
accurate approvals to only pre-qualified applicants.
"What impresses me most about CreditSnap is its versatility,”
said Matt Moody, VP, IT Integrations at Open Lending. “As the first
partner to fully integrate both pre-qualified and full-loan request
underwriting workflows with Lenders Protection, CreditSnap
facilitates risk analysis early in the lending process, resulting
in funded loans with 100% look-to-book. With real-time, dynamic
approvals, the lender gets only the applicants they want, and there
are no surprises. This partnership is a valuable asset to our
mission to help lenders drive vehicle accessibility without adding
unnecessary risk."
With Federal Reserve officials forecasting interest rate cuts in
2024, Open Lending’s integration with CreditSnap is positioned to
help captive finance companies and auto lenders offer refinancing
solutions with increased efficiency. The user-friendly platform
offers complete workflow integration, targeted marketing
capabilities and proactive risk management, allowing dealers to
provide immediate and accurate loan approvals to customers seeking
refinancing.
"At CreditSnap, we're committed to re-imagining how lending and
deposit automation can be delivered to credit unions’ and banks’
customers,” said Deepak Polamarasetty, CEO at CreditSnap. “With
this partnership with Open Lending, we’re excited to deliver
instant answers from their Lenders Protection program to credit
unions’ loan applicants and thereby allow automation in that
lending journey.”
To learn more about Open Lending, visit openlending.com, or stop
by booth #17 at the AFSA Vehicle Finance Conference in Las Vegas
between January 29 – February 1, 2024.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based
pricing, risk modeling, and default insurance to auto lenders
throughout the United States. For over 20 years we have been
empowering financial institutions to create profitable auto loan
portfolios with less risk and more reward. For more information,
please visit www.openlending.com.
About CreditSnap
CreditSnap’s fintech SaaS solution allows credit unions and
banks to deliver end-to-end automated lending and deposit account
opening experience to their customers. CreditSnap has processed
over 2.7 million loan and deposit applications, and consistently
delivered efficiency and automation in account opening operations
for financial institutions. Discover how at www.creditsnap.com or
get in touch at.
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version on businesswire.com: https://www.businesswire.com/news/home/20240125888346/en/
Alison Smith for Open Lending openlending@ink-co.com
Investor Relations Inquiries openlending@icrinc.com
Open Lending (NASDAQ:LPRO)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Open Lending (NASDAQ:LPRO)
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부터 5월(5) 2023 으로 5월(5) 2024