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The COVID-19 pandemic has created new challenges for all businesses in the U.S. and across the world. As an essential business, MeridianLink has continued supporting financial institutions by providing critical financial services infrastructure during these uncertain times.  From March through the end of May, we have been providing our ‘How MeridianLink Can Help’ Webinar Seriesto offer various solutions for clients and other lenders to help serve their members and customers more efficiently and effectively while social distancing and working from home.    

Summary   The COVID-19 pandemic has changed virtually everything about the way we live our lives. With many states being under a shelter in place order for almost two months, unemployment has skyrocketed. This blog examines the potential financial ramifications and how that will cause an increase in delinquencies. This blog covers:   The state of unemployment and projects the possible peak.   The current state of consumer debt and what lenders need to keep an eye out for.   How to prepare by implementing proper collections processes.   Read More:

When life gives you lemons, you make lemonade. While we are extremely disappointed  that we cannot host you LIVE in beautiful Huntington Beach next month at our 2020 User Forum in person, we still are committed to building, supporting, and strengthening ties with you, our clients, prospective clients, and the lending community.   So, as announced earlier this month, we have created a two-day 2020 Virtual User Forum taking place June 9-10.    

Over the past decades of growing credit demand, stronger competition and advances in computer technology, traditional methods of making credit decisions that relied mostly on human judgment have been replaced by methods using statistical models such as custom scorecards. The following eBook will explore how custom scorecards can help substantially increase automation in the credit underwriting process and improve risk control at the point of origination while allowing financial institutions to gain more business. In other words, custom scorecards allow for a higher level of auto-decisioning, more analytics-based underwriting rules, and more profitable loans all while keeping the institutions within their risk appetites.

Business enterprises are constantly on the lookout for the perfect technology solution. The ideal loan origination system (LOS) is one that combines user functionality, business benefits and cost management into a single system.

  One of the major concerns collections managers are facing right now is keeping up with rising delinquency rates. Banks and credit unions can empower their collections teams by providing them with robust software solutions, such as those offered by MeridianLink.   But how can you ensure you have software that makes your team as effective and as efficient as possible? Here are some core components to look for: Automated workflow Seamless integrations Easy-to-navigate user experience The ability to make custom queues Web-based application Learn more about the keys to effective debt collection software.

Many lenders waste time and money implementing a highly configurable Loan Origination System (LOS) because they believe they need a unique loan production process. This post will help lenders understand how an LOS with best practices dramatically reduces technology costs and implementation time.

Schools are out for the year, millions of new jobless claims are filed each week, there are talks about “re-opening” the country, and I’m working out of my garage instead of the office; so the question is not if, but rather how is COVID impacting your members/customers and how does that impact your origination business?

During these unprecedented times, consumers are looking for leadership, service, and stability. Community banks and credit unions are in a prime position to offer all three, simultaneously. enhancing business continuity and fostering goodwill throughout the community.

Stronger Together. This motto is displayed by more and more companies as a way of showing solidarity with their clients, customers, members, employees and communities as they navigate through (and hopefully soon) out the other side of this global pandemic. And, when that slogan is transformed into actions, it really exemplifies that partnership.