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Will McGregor

Infographic: Converting Indirect Members

By | LOS System Software

“Increasing customer retention rates by 5% increases profits by 25% to 95%,” according to research done by Frederick Reichheld of Bain & Company.  Sure this statistic is normally used for the retail market, but it does apply to indirect CU members. If we are willing to perceive indirect CU members as existing customers rather than new leads then this statistic applies. It’s not easy to convert indirect members, but it…

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Best Practices for Converting Indirect Members

By | Indirect Lending, Partnerships

Converting members who come in through partnerships with dealerships or other service providers has been the bane of credit unions’ existence. Indirect can provide tremendous growth, but if they’re not using more products they won’t be a profitable member to the credit union. Why do credit unions have such difficulty converting them? Think about the consumer’s journey. They want a car. They go to the dealership for a car. They…

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Paperless Indirect Lending Has Never Been So Simple

By | Loan Origination Software, LOS System Software

If you have an indirect lending program chances are you’re wasting a lot of time and money shuffling papers. Your dealers are probably sending you funding packets by some sort of courier service. This costs a lot of money, and it drags out the time until they get paid. When the packets arrive at your office for funding, more time is wasted shuffling through and sorting the documents, then scanning…

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Digital Matrix Systems To Enhance The ALLEGRO™ Lending Suite LOS Platform

By | LOS System Software

Integrated Lending Technologies (ILT) and Digital Matrix Systems (DMS) have partnered to enhance the product offerings for ILT’s suite of loan origination software.  ILT provides a web-based loan origination system for banks, credit unions, and other financial services companies marketed as the Allegro™ Lending Suite. Based in Addison, TX, DMS provides data connectivity, analytics, and storage solutions. The partnership enables ILT to utilize the DMS connectivity platform to obtain consumer…

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Roger K. Seegmiller Receives Hearts & Hands Award

By | About Us, PRESS

Roger K. Seegmiller, EVP and Chief Operations Officer of Integrated Lending Technologies, LLC, has been selected by the Utah Philanthropy Day organization to receive the “Hearts & Hands” award at its annual celebration held in the Salt Palace on November 15th, 2018.  Roger was nominated by Southern Utah University for his involvement in the creation of the Entrepreneur Leadership Council (ELC). The ELC is a small group of successful entrepreneurs…

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LOS System Software

Personal Lending: Time for a Fresh Approach

By | LOS System Software

Personal loans are experiencing tremendous growth thanks to the fintech market. From 2008 to March of 2018, personal loans have increased from $72 billion in 2008 (equal to $90B in 2018) to $120 billion dollars, according to Quartz. Alternative fintech lenders account for $31 billion of in personal loans, versus $22.5 billion for banks and $18.7 billion for credit unions, according to TransUnion data reported by Quartz. Banks have more…

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Open Lending Announces Expanded Partnership With Integrated Lending Technologies

By | PRESS

FOR IMMEDIATE RELEASE AUSTIN, TEXAS – October 3, 2018 – Open Lending, LLC is pleased to announce it has expanded its longtime relationship with Integrated Lending Technologies, LLC (ILT) through ILT’s enhanced Allegro Lending Suite. Based in Salt Lake City, ILT was the very first Loan Origination System (LOS) partner to be added fifteen years ago, to Open Lending’s now vast suite of LOS partners. The Allegro™ Lending Suite represents…

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9 Characteristics of Car Dealers Your Credit Union Should Deal With

By | Credit Unions, LOS System Software

Ensure the Dealers in Your Indirect Program Make the Grade Not all indirect lending programs are built the same. When credit unions can keep constant watch over how various dealers they’re working with are performing, your institution can better mitigate risk. You are in control. “As indirect buyers we all form opinions, for good or bad, about each dealership from whom we buy,” Roger Seegmiller, COO for Allegro Lending Suite,…

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The Future Of Lending: User Experience, Control and Marketing

By | LOS System Software

The lending landscape has changed dramatically because of rapidly advancing technology, access to information and consumer expectations. Lending is no longer about terms or rates – members demand control and seamless user experience. Credit unions must adapt to these paradigm shifts to remain competitive. Credit unions must also get strategic about their marketing to let members and nonmembers know the credit union is there for them. As Apple and Nike…

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LOS Platform

7 Tools For Indirect Lending

By | LOS System Software

A VITAL COMPONENT OF A STRONG LOAN ORIGINATION SYSTEM IS IT’S INDIRECT LENDING COMPONENT. Indirect Lending is based on the recognition of three facts: 1. Large national lenders, including manufacturers’ captive finance companies, are strong and effective competitors for the credit union member’s auto loan. 2. Most car loan decisions are made while credit union members are at the dealership, and most dealers are experts at influencing this decision. 3….

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