Kasasa Partners with Open Lending

By Staff Writer July 27, 2020

Kasasa, a financial technology and marketing provider, has partnered with Open Lending, a provider of lending enablement and risk analytics solutions to financial institutions, to bring a higher level of assurance and reduced risk to the lending process. Together, Kasasa and Open Lending will provide community financial institutions the ability to automatically approve a greater volume of auto loans.

Open Lending works exclusively with automotive lenders by providing loan analytics, risk-based pricing, risk modeling and automated decision technology. Its Lenders Protection program is a unique auto lending enablement platform utilizing proprietary data and advanced decisioning analytics to provide lenders with a powerful and safe way to increase near and non-prime auto loan volumes. Through its partnership with Kasasa, Open Lending customers will have access to the Kasasa Loan, a loan with Take-Backs, which allows borrowers to pay ahead to reduce debt, but take the extra funds back if they need it.

“Our mission at Open Lending is to serve the underserved – it is important that lower credit score borrowers are able to access a loan with manageable rates,” said John Flynn, President and CEO of Open Lending. “With the Kasasa Loan, financial institutions can help a wide range of borrowers better understand their loan and debt options while providing a solution to get out of debt sooner.”

Open Lending’s automated Lenders Protection program integrates with the lender’s loan origination system to render back decisions to the financial institution in seven seconds or less. It enables banks and credit unions to approve a wider array of borrowers in real-time, so that the borrower receives an immediate response to their approval.

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Last modified on Monday, 27 July 2020 17:14

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