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LOS System Software

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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Paperless Indirect Lending Has Never Been So Simple

By | Lending Suite Features, 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

By | Lending Suite Features, 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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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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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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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…

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