The partnership between Rate Reset and MeridianLink will allow our credit union and bank clients to increase auto loan market share by attracting new customers and/or having existing customers switch their loan”, said Doug Glagola, Vice President Business
McLean, VA (PRWEB) February 05, 2015
Rate Reset, the provider of Loan Reset and Loan Generation Software for Mortgages and Auto Loans, today announced its partnership with MeridianLink, a leading provider of loan decisioning solutions, headquartered in Costa Mesa, California. The partnership provides financial institutions with a simple, easy and attractive online or mobile tool to generate and close more auto loans.
- What Is LOANGen? LOANGen for Auto is a secure front-end web-based automated loan generation tool that allows credit unions and banks to acquire existing auto loans from other financial institutions.
- What Is MeridianLink? MeridianLink is an industry leading consumer lending and account opening platform service provider with extensive experience in the development of web-based solutions and systems integration. MeridianLink has a large network of financial institutions nationwide using its web-based online consumer lending and loan-decisioning engine.
- What Is the Opportunity? The partnership between Rate Reset and MeridianLink brings the front end of LOANGen to generate new auto leads with the back end of MeridianLink’s loan decisioning system to provide the financial institution a powerful tool to increase their loan portfolio. For the consumer, the partnership provides a simple, easy and convenient way for consumers to shop, switch, and save money on their auto loans, online or mobile, and in one easy step.
- How Does It Work? Through LOANGen, the financial institution allows the consumer to enter their current auto loan information from a competing financial institution, (loan amount, interest rate remaining term, etc.). The customer can then customize a new loan by selecting a range of terms and associated interest rates. Upon selecting the new loan they want to switch, MeridianLink’s loan decisioning system enables the customer to fill out the appropriate information online and seamlessly submit the application for decisioning all in one step.
- Benefits to All Parties: Credit Unions and banks can increase auto loan market share by attracting new customers and/or having existing customers switch loans from other institutions. For the consumer, LOANGen puts the consumer in control of their finances that is simple, easy and convenient.
“The partnership between Rate Reset and MeridianLink will allow our credit union and bank clients to increase auto loan market share by attracting new customers and/or having existing customers switch their loan,” said Doug Glagola, Vice President Business Development of MeridianLink. “Our combined interface creates an efficient process between Loan Generated to Loan Closed.”
“We are very excited about linking up LOANGen’s front end (Loan Generation) with MeridianLink’s back end (Loan Decisioning) to provide a powerful tool to financial institutions looking to increase their auto loan portfolio,” said Ben Psillas, CEO of Rate Reset. “Our partnership provides the consumer with a simple and easy way to control their finances.”
MeridianLink, Inc., developer of the industry's first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for over 20,000 end users in the financial services industries. The company’s passion for excellence is reflected in their web-based credit reporting, lending, and new membership/deposit opening technologies, which all enjoy solid reputations as being cutting edge, reliable, and affordable. Based in Costa Mesa, California, MeridianLink is committed to creating “Smart Solutions” that deliver “Real Value.” For more information, visit http://www.meridianlink.com.
About Rate Reset:
Named by American Banker’s Bank Technology News (BTN) as "One of the Top Ten Technology Companies" to watch in 2013, Rate Reset provides innovative Loan Reset, Acquisition, and Retention to banks, credit unions and mortgage companies. The company’s software provides a borrower-initiated interest rate-resetting loan feature that is an alternative to the traditional refinance for both mortgages and auto loans. For more information on Rate Reset visit http://www.RateReset.com.