Kasasa, an award-winning financial technology and marketing provider, has partnered with Open Lending, a leading provider of lending enablement and risk analytics solutions to financial institutions, to bring a higher level of assurance and reduced risk to the lending process. Together, Kasasa and Open Lending will provide community financial institutions the ability to automatically approve a greater volume of auto loans.
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Kasasa has partnered with Open Lending to bring a higher level of assurance and reduced risk to the lending process. Together, they’ll provide community financial institutions the ability to automatically approve a greater volume of auto loans.
Open Lending works exclusively with automotive lenders by providing loan analytics, risk-based pricing, risk modeling and automated decision technology. Its Lenders Protection™ program is a unique auto lending enablement platform utilizing proprietary data and advanced decisioning analytics to provide lenders with a powerful and safe way to increase near and non-prime auto loan volumes. Through its partnership with Kasasa, Open Lending customers will have access to the Kasasa Loan, the only loan with Take-Backs™, which allows borrowers to pay ahead to reduce debt, but take the extra funds back if they need it.
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“Our mission at Open Lending is to serve the underserved – it is important that lower credit score borrowers are able to access a loan with manageable rates,” said John Flynn, President and CEO of Open Lending. “With the Kasasa Loan, financial institutions can help a wide range of borrowers better understand their loan and debt options while providing a solution to get out of debt sooner.”
Open Lending’s automated Lenders Protection™ program integrates with the lender’s loan origination system to render back decisions to the financial institution in seven seconds or less. It enables banks and credit unions to approve a wider array of borrowers in real-time, so that the borrower receives an immediate response to their approval.
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