CUneXus, a company that offers banks application-free consumer lending products, announced a partnership this week with enterprise business solutions company MeridianLink. As a part of the partnership, CUneXus’ cplXpress will power one-click loan applications for MeridianLink’s loan origination system, LoansPQ. 

Lenders using LoansPQ can now proactively push pre-approved loan offers to their client’s device. Because the offers are automated and based on advanced data analytics, the loan offers are instantly actionable and therefore eliminate the need for a traditional loan application. The partnership offers users a perpetual loan approval with a one-click user experience that offers instant access to the funds where and when they need it, for example, at a car dealership.

In a press release, Dave Buerger, co-founder and CEO of CUneXus said that the new solution gives banks more leverage “to compete in an increasingly on-demand economy.” He added, “This gives consumers total transparency and the 1-click convenience they expect, while eliminating the hassle and delay of an online application form or branch visit.” The release also notes that New England-based DCU, California’s Golden 1 Credit Union, New York’s Cap Com Federal Credit Union, Alabama’s Redstone Federal Credit Union, and Arizona Federal Credit Union have all implemented LoansPQ powered by cplXpress. As a result of the implementation, DCU has reported that the solution boosted its loan volumes 110% in 90 days.

At FinovateSpring 2016, CUneXus debuted AutoXpress, a solution that enables pre-approved customers to shop car inventories at local dealerships from within their bank or credit union’s mobile app– all at pre-negotiated prices. The shopping experience, which is made possible through a partnership with Edmonds.com, enables users to shop for and submit a purchase request for vehicles remotely, without price haggling or going through a loan application process.

Earlier this year, CEO Dave Buerger was featured in an interview with CUBroadcast, where he explained the click-to-accept lending platform. Last fall, the Santa Rosa-based company closed a $5 million Series A round of funding, bringing its total amount raised to $7 million.

The post CUneXus’ cplXpress to Power One-Click Loans for MeridianLink appeared first on Finovate.


Source: Events
CUneXus’ cplXpress to Power One-Click Loans for MeridianLink