Open Lending, LLC Driving More Loans For Automotive Lenders Than Ever…

Open Lending

“We assistance some-more people get authorized for automobile loans while concurrently giving financial institutions a reserve net of “A” rated word carriers and aloft net ROA’s than a standard primary loan portfolio,” settled John Flynn, President, CEO, and Co-Founder of Open Lending, LLC

Founded in 2000, Open Lending, LLC, is gratified to announce a record violation year with a 2017 formula and accomplishments. The association works exclusively with automotive lenders providing over 365 financial institutions national with loan analytics, risk-based pricing, risk displaying and programmed preference technology.

In 2017, Open Lending gifted income expansion of 45% over a before year. The company’s sum portfolio of insured automotive loans some-more than doubled opposite a before dual years, augmenting from 20,000 in 2015 to 43,000 in 2017. The association has helped lenders “Say YES” to over 200,000 insured automotive loans totaling approximately $4.5 Billion in originations to date.

“The Lenders Protection Program is doing accurately what we designed it to do. We assistance some-more people get authorized for automobile loans while concurrently giving financial institutions a reserve net of “A” rated word carriers and aloft net ROA’s than a standard primary loan portfolio,” settled John Flynn, President, Chief Executive Officer, and Co-Founder of Open Lending, LLC.

Through a exclusive technology, a Lenders Protection Program, financial institutions precedence absolute collection with tradition analytics to safeguard approach and/or surreptitious loan capitulation decisions in seconds. Lenders are empowered to boost nearby and non-prime automotive loan volumes and yields with a word of “A” rated word carriers, preventing additional risk to their loan portfolio.

During 2017, Open Lending significantly upgraded a record along with expanding word partners to support a staggering growth. The association re-architected a program height and combined a second live datacenter to double a focus upsurge capacity. Using tellurian server bucket balancing (GSLB) and GeoDNS, a association has implemented full excess protocols to discharge downtime ensuing from variable outages. Open Lending combined CNA, a eighth largest blurb insurer in a United States, as an word partner. Now with dual “A” rated carriers, AmTrust and CNA, a association has stretched a ability to lessen risk for clients. The association also reported that detriment ratios from a Lenders Protection Program continue to be reduce than expected.

The association was named to Austin Business Journal’s 2017 “FAST 50” list, for a fifth uninterrupted year, a list comprising a fastest flourishing private companies in Central Texas. Additionally, a association was awarded Austin Business Journal’s 2017 “Best Places to Work” in Central Texas for a third uninterrupted year, an endowment driven essentially by worker feedback.

“The association success is a approach outcome of pushing profitability for a clients themselves. We value a clients and partners for their continued trust and support as we live a prophesy that started 18 years ago,” settled Ross M. Jessup, Chief Financial Officer, Chief Operating Officer, and Co-Founder of Open Lending, LLC.

ABOUT OPEN LENDING, LLC

Founded in 2000, Open Lending, LLC works exclusively with automotive lenders by providing loan analytics, risk-based pricing, risk displaying and programmed preference technology. Based in Austin, Texas, a association services over 365 financial institutions nationwide. Through a exclusive technology, a Lenders Protection Program, financial institutions precedence absolute collection and customized analytics to safeguard approach and/or surreptitious loan capitulation decisions in seconds. Lenders are empowered to boost nearby and non-prime automotive loan volumes and yields with a word of “A” rated word carriers, preventing additional risk to their loan portfolio. Lenders Protection, LLC is a unconditionally owned auxiliary of Open Lending, LLC.

To learn some-more about Open Lending, revisit http://www.openlending.com.

Follow Open Lending on LinkedIn Facebook Twitter Instagram

OPEN LENDING CONTACT

John Flynn, President/CEO, 512.892.0400 ext. 226, jflynn(at)openlending(dot)com

MEDIA CONTACT

Cami Gueguen, CAMIO PR, 512.415.5460, cami(at)camiopr(dot)com

About The Author

Related posts