The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding indirect lending. Opinions expressed in this article are of the individual authors and may not reflect the opinions of MeridianLink, Inc.
Indirect lending provides point-of-sale financing solutions to increase borrower reach. Financial institutions use it to tap into new borrower segments and markets, accelerate credit approvals, and provide instant loan options, all in service of a more seamless, satisfying consumer experience.
In a recent overview of third-party integrations available on MeridianLink® Marketplace, we shared more details on the indirect lending solutions offered through our vendor partners, LoanStar and Open Lending.
Expand your market and drive growth by accessing subprime lending via MeridianLink Marketplace integrations.
LoanStar
LoanStar connects institutions with consumers seeking purpose-built loans, like home improvement financing, through point-of-sale. They now also offer HELOC options for consumers without ties to large institutions or unaware of community lenders.
Open Lending
In the subprime auto lending realm, Open Lending uses alternative data sources to identify credit-worthy consumers who may not qualify for loans through traditional methods.
For example, it could allow a consumer with a suboptimal credit score but a perfect record of bill repayment — demonstrating less credit risk to the institution — to have loan options they otherwise may not receive. To ensure that the institution isn’t taking undue risk, Open Lending also uses alternative underwriting practices and credit protection.
Ready to learn more? Check out the hundreds of partner integrations available on the MeridianLink Marketplace.
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