Fynanz Becomes LendKey, Shifts to Cloud-Based Lending
The student lending technology provider Fynanz has rebranded to LendKey, a cloud-based lending platform that enables credit unions to provide auto loans and green construction loans in addition to student loans, the company announced.
LendKey said the new platform allows lenders to safely and quickly access lending markets for multiple asset classes, set up a full-scale, compliant lending operation within weeks and gain access to a community of like-minded lenders. The products built into the platform provide lenders with the tools needed to complete credit decisioning, loan origination, loan participation, loan servicing and demand generation activities, LendKey said.
“A cloud-based lending platform like LendKey can enable lenders to reduce their capital and operational expenditures as they continue to lend and expand into other lending products,” said Vince Passione, CEO/founder for LendKey and former CEO for Fynanz.
Founded three years ago, Fynanz offered customized student lending programs as well as the cuStudentLoans.org marketplace and had 230 credit union clients.