1st Security Bank utilizes fintech, LoanStar Technologies, to create a more streamlined experience for home improvement contractors and consumers

MOUNTLAKE TERRACE, Wash., July 27, 2022 /PRNewswire/ -- 1st Security Bank ("the Bank") has recently partnered with LoanStar Technologies ("LoanStar") to create an improved loan application portal for home improvement contractors. The portal enables contractors to offer various bank financing options to consumers for the purchase of windows, roofs, solar panels and other home improvement goods and services.

The Bank has been providing home improvement financing to consumers since 1996 through various fintech partnerships and continues to work to improve the lending process for consumers and contractors using the latest technology. LoanStar's platform, MerchantLinQ®, is versatile and built to connect to numerous third-party vendors allowing the Bank to improve the user experience, create operational efficiency, and reduce risk.

"We see LoanStar as a true technology partner," said Ben Crowl, SVP Director of Consumer Lending. "We believe that by leveraging the LoanStar platform, the Bank will be able to expand our product offerings, create a better user experience for the contractor and consumer, and improve the workflows for the consumer lending team. 

LoanStar Technologies is a fintech focused on connecting service providers with financial institutions to supply financing to consumers for the purchase of goods and services. MerchantLinQ connects with other fintech and CRM solutions to provide efficiencies for both the service provider and financial institution. LoanStar is a privately held company headquartered in Swarthmore, PA.

1st Security Bank of Washington, member FDIC and Equal Housing Lender, provides loan and deposit services to customers at its twenty-one branches, and mortgage services at each branch as well as lending offices in the greater Puget Sound area, Vancouver, and the Tri-Cities. FS Bancorp, Inc., a Washington corporation, (ticker: FSBW) is the holding company for the Bank.

MEDIA CONTACT

Donna Jacobson 
VP, Director of Marketing
P: (425) 697-8086 
E: [email protected]

SOURCE 1st Security Bank