Partnership with iLendx will bring suite of new, turnkey digital lending solutions to market
To meet the evolving needs of consumers, TransUnion (NYSE: TRU) has announced the launch of Mobile Offers Now. This innovative solution helps financial institutions respond to increasing consumer expectations to be served when and where they choose.
Mobile Offers Now leverages TransUnion’s existing Find My Offer platform to provide consumers with instant access to prequalified credit offers through a simplified, SMS-initiated, mobile experience. The technology seamlessly integrates real-time credit decisioning with consumer and device authentication, creating a secure, personalized and dynamic user experience.
“To stay competitive in an increasingly digital world, financial institutions know that they need to reduce unnecessary friction and poor experiences to attract and keep good consumers,” said Dane Mauldin, chief product officer at TransUnion. “Consumers are demanding faster ways to find offers and apply for credit when and where they need it. With Mobile Offers Now, they may simply text a key word to instantly check for prequalified offers across numerous credit products, providing a path to credit through a completely digital application process.”
Mobile Offers Now, enabled through a strategic partnership with iLendx, LLC., is the first release within a turnkey Digital Lending suite that is fully integrated with TransUnion’s decision technology. These solutions are intended to replace the traditional credit application with an intuitive workflow that takes the consumer from prequalification to funding in just minutes, with the option to deepen the relationship by offering auto, HELOC, credit card or unsecured lending products during a single session.
“This solution will enable financial institutions to quickly expand their digital presence and adopt new channels for attracting and retaining customers who expect technology and convenience,” said Andy Ivankovich, CEO of iLendx. “Less than 10 percent of banks can originate loans digitally and many banks face barriers to implementing their own digital platform. The suite of digital lending solutions will help financial institutions reach new demographics, enter new markets and reduce origination costs while boosting their bottom line.”
Source: TransUnion Press Release