With the increasing challenges of vehichle affordability, those in underserved credit segments find themselves without access to financing, and thus better job and education prospects. Open Lending’s mission has been to expand automobile access for near-prime borrowers, and through their market-leading AI and machine learning Lenders Protection platform fueled with the most comprehensive data in the industry they empower lenders to meet yield targets while also serving the near-prime segment. It also got them a Credit Union Times Luminaries nomination for Product Innovation.
In this episode of the Meet the Luminaries podcast series, Kevin Filan, senior vice president of marketing at Open Lending, looks at what the nomination means for the company.
You’ll also learn:
- How data shows that credit unions miss out when not meeting the financing needs of near-prime consumers;
- What five important recommendations credit unions should know about a lending enablement partner; and
- Why Open Lending is making improvements to better serve both credit union and near-prime borrowers.
Click to listen to the full-length podcast, or click here for a condensed video version.