Category

LOS System Software

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…

Read More

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,…

Read More

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…

Read More
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….

Read More

Allegro Lending Suite Is Here

By | LOS System Software

Allegro Lending Suite will be comprised of three loan origination software modules, one for indirect lending (Dealer), another for direct consumer lending (Branch) and a third for merchant lending (Provider).   Everyone here at ILT is involved in planning, designing, developing or testing the next generation of our lending technology. Allegro Lending Suite will be comprised of three lending modules, one for indirect lending (Dealer), another for direct consumer lending…

Read More