Subject: LIC
Conductiv Partners with MeridianLink to Accelerate Market Momentum and Enable Financial Institutions to Increase Loan Approval Rates and Serve More Consumers
Combining the strength of the MeridianLink® Consumer lending platform with access to missing, permissioned data empowers lenders to efficiently and confidently approve more loans, open more deposits, and deliver better, faster, and fairer lending to consumers.
NEW YORK, April 16, 2024 /PRNewswire-PRWeb/ -- Conductiv, Inc, the leader in providing missing, permissioned data and transforming data to meet underwriting guidelines, today announced its partnership with MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies. The partnership allows banks and credit unions to access alternative data to approve more loans and serve more consumers. Through the integration, shared customers can leverage machine learning and data science to transform consumer lending.
"Lenders can see up to a 47% lift in approval rates without increasing losses, as well as increases in stipulation verification rates, and decreases in abandoned application rates by using Conductiv and MeridianLink," said Christina Williams, VP Loan Operations at Everwise Credit Union. "By digitizing stipulation gathering, lenders can increase underwriting efficiencies and decrease time to loan dramatically!"
"Our partnership with MeridianLink makes it easy for lenders to leverage permissioned data and make better, faster, and fairer decisions. Our deep integration means that lenders need zero IT resources to implement, and only 4 hours of project management time to get up and running with Conductiv. We are seeing our customers make more loans while doing less work, and dramatically improve the customer experience," said Cimarron Buser, Head of Strategic Initiatives at Conductiv. "Our shared customers appreciate how easy it is to take advantage of Conductiv's capabilities within the MeridianLink® Portal and Consumer platforms, and we are very excited about the future!"
ABOUT CONDUCTIV
Conductiv digitizes the manual processes in lending operations, decreasing abandoned loan applications and increasing loan approval rates. The platform connects lenders to thousands of cash flow, income, identity, and other permissioned data points via a single, future-proof API. This makes it easy for lenders to digest and use this data, resulting in operational efficiencies, greater protection against fraud, and a modern, consumer-friendly experience. Less work. More loans. Happier customers.
ABOUT MERIDIANLINK
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink's scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.
Media Contact
Jill Baker, Conductiv, 1 +1-201-340-1744, [email protected], https://conductiv.co/
SOURCE Conductiv
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