Natco Credit Union combines Eltropy’s Texting with MeridianLink to fund loans faster
Combining Eltropy’s Digital Platform with MeridianLink’s Software Accelerates Lending Cycles, Delights Borrowers and Generates More Lending Revenue
MILPITAS, Calif., Oct. 07, 2022 (GLOBE NEWSWIRE) — With high interest rates and a chip shortage driving down car purchases, community financial institution (CFI) lenders must act quickly to take advantage of the decline in demand for car loans in the market. By ensuring that their entire loan qualification, authentication and funding process is efficient and convenient for consumers, IFCs can continue to gain loan market share from MegaBanks in a bear market.
A Eltropy partner, NATCO Credit Unionimproved the productivity of its workforce by combining Eltropy’s Texting with MeridianLink’s loan origination software to reduce hours of manual effort while accelerating turnaround time and improving customer and customer experiences members.
Eltropy’s MeridianLink integration allows loan officers to work on one platform, MeridianLink, with the power of Eltropy Texting. Lenders can easily send personalized texts to their customers, collect loan documents via SMS, and authenticate and fund loans, without having to work from two platforms. Consumers love to text while emails and phone calls go unanswered. This leads to a rapid acceleration of loan processing times and can save loan officers more than 30 minutes per day.
“MeridianLink and Eltropy together on one platform, it’s like your right hand and your left hand are working at the same speed, on the same page, in the same book,” said Kimberly Davis, director of sales and service at Natco Credit Union. “Speeding up our lending processes with digital communications is something we’ve wanted as an organization for some time. Eltropy’s integration with MeridianLink has made it seamless and efficient.
While the need for improved lending processes and digital capabilities is not a new idea, the concept of the two working together was previously unclear. CFIs have long been asking for solutions to improve the speed of funding and the ability to process more loans. The best closing solutions allow lenders to seamlessly and efficiently integrate communications into lending solutions.
“Community financial institutions are focused on how they can strengthen their lending service during these uncertain times,” said Ashish Garg, CEO and co-founder of Eltropy. “Eltropy puts the power back in the hands of the lender to better serve its consumers with secure and integrated SMS. Eltropy will continue to pursue integrations with leading CFI solution partners to deliver an evolving enterprise-wide digital communications platform.
CFIs will have the opportunity to see for themselves how Natco was able to drive their digital edge lending service with secure and integrated digital communications during Eltropy’s webinar on October 26, 2022 at 1:00 p.m. ET. Viewers will be able to hear Kimberly Davis, Director of Sales and Service, talk about her personal experience using Eltropy to supercharge their lending process, along with a live demonstration of how the integration works.
Click on here to register for the webinar today.
About Eltropy
Eltropy enables financial institutions to digitally engage in a secure and compliant manner. With our award-winning digital communications platform, community financial institutions can communicate, automate, and use intelligence to improve operations, engagement, and productivity. Community banks and credit unions use Eltropy to communicate with consumers via text, video, secure chat, co-browsing, screen sharing and chatbot technology – all integrated into one platform unique enhanced by proprietary AI, skills-based routing and other contact center capabilities. For more information on Eltropy, please visit https://eltropy.com.
About Natco
Natco Credit Union has served its more than 16,000 members since 1945, with just under $133 million in assets. Membership in Natco Credit Union is open to anyone who lives or works in the following Indiana counties – Wayne, Fayette, Randolph, Henry, Rush, Union, and Franklin. Membership is also available to any industrial worker within a 25 mile radius of Richmond and family members of an existing member. For more information about Natco Credit Union, please visit natcocu.org
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