New York, NY (PRWEB) December 04, 2013
LendKey, the cloud-based lending technology company located in New York City, today announced that it has surpassed $500 million in loan volume originated and serviced on its cloud-based platform.
LendKey, which was founded in 2008, has primarily provided financial institutions with lending platforms for private student loans and private student loan consolidations. The company currently provides the student lending infrastructure for over 260 financial institutions as both a technology and business process outsourcing (BPO) provider, which includes marketing and demand generation support in addition to loan origination and servicing.
“Lenders today face significant challenges in effectively deploying their capital into the retail lending market,” said Vince Passione, CEO of LendKey. “Surpassing $500 million in loans originated through our platform is a testament to the demand that lenders have for this solution. We’re excited to continue to help lenders innovatively solve this problem through student lending, as well as many other potential asset classes down the road.”
LendKey, located in New York and Ohio, offers cloud-based technology to provide the essential infrastructure for any party to quickly, securely, efficiently, and profitably lend to anyone else – from those offering loans directly to those structuring new types of loans. LendKey's lending solutions to credit unions and banks nationwide primarily provide loans pertaining to students, solar or energy-efficiency efforts. For more information, visit http://www.lendkey.com.