Open Lending is acknowledged for using advanced risk analysis and alternative credit data to enhance vehicle accessibility for underserved near- and non-prime borrowers
Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, today announced its nomination as a finalist for the 2023 Credit Union Times LUMINARIES awards in the Product Innovation category.
“We are proud of the dedicated partnerships we’ve developed with credit unions throughout the country to enhance vehicle accessibility, particularly among deserving, yet often overlooked, near- and non-prime consumers,” said Keith Jezek, Chief Executive Officer, at Open Lending.
“Open Lending has written and insured over $20.2 billion in auto loans since our founding and we are nearing the certification of insurance on our one millionth auto loan in the coming year,” added Kevin Filan, Senior Vice President of Marketing at Open Lending. “As we approach this milestone, we are mindful of the nearly one million stories that each of these auto loans and car ownership represents. The fulfillment of the dream of owning a car, the ability to take a better job, the improved quality of life that comes with personal mobility - all made possible with the hundreds of committed credit union partnerships Open Lending has cultivated. Our Lenders Protection™ product has made it possible for credit unions to automate the decisioning process to include scoring, structuring and pricing auto loans coupled with default insurance. The near- or non-prime applicant of today often represents the prime member of tomorrow when we can work together to ensure that that member has a loan he or she can afford, and the credit union has a solution that works for its institution.”
The LUMINARIES program highlights individuals and organizations in the credit union industry who are achieving meaningful change by improving the lives of members, and the Product Innovation category acknowledges service and technology organizations of all sizes around the United States.
The winners will be announced at a ceremony on November 9, 2023, in Orlando, Florida, after the finalists have been reviewed by a diverse panel of judges across the credit union industry.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.