Union Credit score has introduced a brand new partnership with MeridianLink.
The partnership will simplify and streamline the lending course of for credit score unions with real-time financing options on the level of buy.
Union Credit score most not too long ago demoed its expertise at FinovateFall 2024.
Union Credit score, a market for credit score unions that provides pre-approved, one-click credit score presents on the level of buy, has teamed up with software program platform MeridianLink. The partnership will assist simplify the lending course of for credit score unions with seamless, real-time financing options that may assist drive member development.
“Our aim is to simplify lending processes, turning them right into a seamless, hassle-free acquisition software for credit score unions, whereas offering customers entry to an array of native financing choices and all the good advantages of credit score union membership,” Union Credit score Co-Founder and CRO Barry Kirby mentioned. “By lowering handbook enter and bettering efficiencies for credit score unions, we’re serving to them develop their membership whereas redirecting assets to different strategic areas.”
Union Credit score believes that making it simpler for customers to safe pre-approved presents after they store not solely creates a extra handy financing expertise, but additionally can assist credit score unions entice and retain new members. The partnership with MeridianLink will allow credit score unions in Union Credit score’s market to leverage a direct integration with MeridianLink’s mortgage origination system (LOS) for environment friendly lending and onboarding. This permits credit score unions to course of extra purposes quicker and cut back handbook information entry whereas boosting mortgage quantity and membership development.
MeridianLink’s mortgage origination expertise presents options corresponding to single sign-on, good cross-sell, and versatile account opening. The corporate’s cloud-based platform features a built-in value engine, seamless third-party integrations through Open API, in addition to “best-in-class” shopper help that begins with implementation. The Costa Mesa, California-based firm is publicly held, buying and selling on the New York Inventory Trade below the ticker MLNK, and has a market capitalization of $1.45 billion. Nicolaas Vlok is CEO.
Headquartered in Santa Rosa, California, Union Credit score made its Finovate debut at FinovateFall 2023 and returned the next 12 months for FinovateFall 2024. Most not too long ago, the corporate demoed its All the time Accepted Market SDK, which gives API providers that can be utilized by third events for member eligibility checks, charge lookup, prompt provide technology, and extra.
Winner of the “Prime Rising Fintech Firm” award on the 2023 Finovate Awards, Union Credit score not too long ago introduced that it had built-in greater than 50 credit score unions into its market in 2024. This represents greater than 20,000 new members — 60% of whom had been below the age of 40.
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