NEW YORK, Feb. 6, 2019 /PRNewswire/ -- LendKey, the leading lending-as-a-service platform, announced that it has originated a total of more than $2.6 billion in loans on behalf of its financial institution partners as of the end of 2018. LendKey's turnkey solution provides banks and credit unions with a state-of-the-art platform to offer digital loans.
"Reaching the $2.6 billion milestone is a validation of LendKey's position as a trusted partner for financial institutions to expand their digital lending offerings and grow revenue and their asset portfolios," said Vince Passione, CEO and Founder of LendKey.
Highlights for 2018 included record loan origination volume for LendKey's lending partners, a 26% increase in revenue, and the opening of a new state-of-the-art office in Cincinnati to support the planned expansion of new partner lenders in 2019 and beyond.
LendKey also announced that America First Credit Union, one of the nation's largest credit unions serving over 1,000,000 members, has become the newest addition to its roster of lending partners, one of 18 new lenders who started using the LendKey platform last year.
"Our partnership with LendKey is a testament to our commitment to provide our members with a seamless digital borrowing experience and the loans they need," said Rich Syme, Executive Vice President of America First Credit Union. "We value this new partnership and look forward to expanding our portfolio with a recognized industry leader in digital lending solutions."
The strong demand for consumer lending has led banks and credit unions to deliver relevant product offerings through a robust online borrowing experience expected by today's digital-first consumers.
LendKey pioneered the lending-as-a-service model enabling white-labeled, digital lending solutions that help financial institutions establish a strong digital lending presence and acquire prime borrowers for a lifetime of lending. Customized solutions help manage liquidity, reduce costs, and mitigate risk. Visit lendkey.com/lend or email [email protected] for more information.
About America First Credit Union
With a long-standing history and more than 80 years servicing members, America First has become one of the largest, most stable and most progressive credit unions in the country, and has remained a member-owned, not-for-profit cooperative financial institution. Today, America First has 128 locations, and is the 10th largest credit union in assets in the United States with over $10.3 billion, and the sixth largest credit union in membership in America with more than 1,000,000 members.
Contact: Shaina Tavares, 646-808-3731