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Indirect Lending

Aug 10
Love1

Allegro™ Conductor – A Powerful Partnership with LSI

By Credit Unions, Indirect Lending, Lending Suite Features, Loan Origination Software, Partnerships
In the summer of 2001, the predecessor to Allegro™, DILLS™ Version I, was released to its first few credit union users. That first version was pretty simple. It was designed for managing indirect lending only, was not integrated with any other system and offered no auto-approval of applications. Today, the Allegro™ Lending Suite is a complete loan origination system with modules for indirect, direct and lifestyle lending. Allegro™ also includes…
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Sep 09
Love13
lending suite software

It’s A Good Time For Better Yield

By Credit Unions, Indirect Lending
During my second or third year in college I took a class in Chinese Politics. The professor was a fascinating guy who quoted what he said was an ancient Chinese curse, “May you live in interesting times”. It’s one of the few things I remember from that class. Regardless of its source, I supposed that most credit union and community bank executives are certain the curse has befallen them. Investors…
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Aug 08
Love6
auto leasing software

Ride the Auto Leasing Wave with Allegro Lending Suite™

By Indirect Lending, LOS System Software
The average transaction cost of an automobile is rising every year, so consumers are trying to ease that financial outlay and turning towards leasing. In fact, 34% of all retail auto sales in 2018 were leases. Millennials in particular prefer leases. Nearly one third of millennials chose leasing over buying in 2016, making up 12% of all leases in the U.S. No longer is leasing only for luxury brands. Full-size…
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Apr 26
Love6
Loan Origination Software

Infographic: Converting Indirect Members

By Credit Unions, Indirect Lending, Loan Origination Software, 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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Mar 18
Love8
Loan Origination Software

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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Feb 28
Love9

Conductor Simplifies Managing Multiple Indirect Programs

By Indirect Lending, Lending Suite Features, Loan Origination Software, Partnerships
LSI found a way to manage multiple client credit unions’ underwriting needs through Allegro Lending Suite’s Conductor platform. LSI provides various loan-related services, including afterhours underwriting, solutions for indirect lending and more for hundreds of credit unions. When an Allegro client seeks afterhours support, they can get that assistance through LSI, and LSI can then see all the joint clients’ indirect loan applications in queue through the Conductor platform. Conductor…
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Aug 01
Love5

7 Tools For Indirect Lending

By Indirect Lending, 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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