The following post is part of a series of blogs written by MeridianLink Partners who will be attending the MeridianLink LIVE! User Forum in May 2022. To learn more about the event, click here.
By: LoanStar Technologies
Over the last 5 years, the United States has seen significant growth in unsecured consumer lending driven by three factors. First, fintech startups are offering innovative services and loan options tapping into new marketplaces. Second, the marketplace demands real-time or near real-time decisioning during the transaction – there’s significant loan volume moving from a secured (time intensive) process to an unsecured (real-time decisioning) process. And lastly, traditional auto lending is highly competitive, and the returns are diminishing. Used car refinancing only has a limited opportunity over time.
LoanStar is recommending a consumer lending strategy that:
- Partners with fintechs and takes advantage of the new markets being created.
- Leverages software and data services to exceed customer expectations with imbedded lending services within their buying experience.
- Collaborates, experiments, and learns about new opportunities without substantial up-front investment.
If you’re a financial institution who is looking for new ways to grow your customer base and diversify your lending portfolio in the consumer segment, consider LoanStar Technologies to help you.
Easy to work with:
- We structure our pricing to reflect basis point for the funded loan, so we only get paid when you’re successful.
- You’re in control – determining markets, rates, and offering.
- Our lender success team will work with you to learn more about new verticals and improve results in the existing market.
- Developing strategic relationships with new fintechs to help identify new merchants and growing markets, we are lending experts who understand the balance of innovation and managing risk.
- Out of the box and API solutions allow you to evolve your strategy as you engage with opportunities.
- Generating billions of dollars in loan funding across over 50 financial institutions in all 50 states, we partner with customers in over 40 different verticals and can help find the market that align with your growth and risk profile.
- Our team has an average of over 20 years’ experience in financial services. Partner with someone who can help navigate change, innovation, growth.