Western Independent Bankers Selects LendKey as Exclusive Auto Lending Partner for 130+ Community Banks
Lending as a Service Platform to Provide Online Auto Lending Solution for Community Banks Across 13 States
NEW YORK, May 5, 2015 /PRNewswire/ -- Western Independent Bankers (WIB), a trade association of more than 130 community banks, announced today that it endorsed LendKey, a Lending as a Service platform, as its exclusive auto-lending partner. LendKey already has an exclusive endorsed partnership with WIB for student lending. WIB will now endorse LendKey's auto lending solution to community banks across the Western states of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming and the U.S. Territories.
LendKey provides a lending platform and essential infrastructure for community financial institutions to efficiently and profitably launch online lending programs. LendKey clients currently leverage its platform and services to create loan programs, and participate in lending ecosystems, covering private student loans, student loan refinancing, home improvement loans and auto loans.
"We are thrilled to expand LendKey's role as a WIB Endorsed Program partner," said Betty House, senior vice president of product development and CTO, WIB. "We've been working with LendKey since 2014, and have witnessed how seamlessly they can launch and manage online lending programs for our member banks. We're expanding our relationship not only because of LendKey's industry-leading technology, but also for the marketing and customer service channels they provide to lenders. It's really a full-scale, end-to-end solution."
LendKey was carefully evaluated as part of WIB's endorsement program and found to provide high-quality, value- added products and services that enhance banks' competitive advantage and provide significant efficiencies. WIB will provide marketing support and endorse the auto-lending program to its members through direct mail, online, its member magazine and annual conferences.
"We're honored to expand our relationship with WIB and its member banks," said Vince Passione, chief executive officer, LendKey. "Our mission is to enable community financial institutions to enter and succeed in online lending. We're doing this by arming banks with our turn-key lending platform, our customer support centers and our marketing expertise."
About Western Independent Bankers (WIB) & WIB Service Corporation
Western Independent Bankers (WIB) has been helping community bank executive management and board members solve their challenges for 75 years. WIB informs, educates and connects community banks with the resources and services to achieve the highest standards of personal and organizational performance. WIB has community bank members in 13 Western states in addition to an array of community bank service providers. For more information visit www.wib.org.
About LendKey
LendKey pioneered Lending as a Service (LaaS) to credit unions and banks in 2009, and is currently the leading LaaS provider in the U.S., with over 300 financial institution clients. Located in New York and Ohio, LendKey's mission is to transform a $3.2 trillion consumer lending market by connecting thousands of banks and credit unions with millions of borrowers online. Consumers can go to www.lendkey.com to search for, compare and complete student, auto and home improvement loans online from trusted financial institutions. Financial institutions work with LendKey to stay competitive with the online lending ecosystem, to better reach customers and to avoid the cumbersome process of launching an in-house online lending platform. For more information on LendKey, visit www.lendkey.com.
Media Contact: Tracey Koblick
JCUTLER Media Group
[email protected]
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SOURCE LendKey
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