Articles from Open Lending Corporation

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has released its 2025 Vehicle Accessibility Report. The report highlights how credit scores impact consumers in their pursuit of an auto loan and vehicle ownership, as well as how unpredictable market shifts are reshaping vehicle purchasing behavior. For automotive lenders, these changes are a call to adopt a customer-centric approach to automotive lending, prioritizing fairness, flexibility and speed in their service to each borrower.

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 the 2024 winners of Open Lending’s 2nd Annual Economic Vehicle Accessibility Awards (“EVAAs”). The winning banks and credit unions are Open Lending partners that are driving vehicle access through financing opportunities for creditworthy 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, just announced the certification of the one millionth auto loan through its Lenders Protection™ loan decisioning engine. This achievement underscores the Company’s ongoing efforts to empower financial institutions to grow their portfolios, create access to vehicle ownership, and drive innovation in the automotive lending industry.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, just released a new Near- and Non-Prime Consumer Brief, the latest installment in its quarterly series of data reports on vehicle registrations. The report found that, despite continued challenges in the vehicle market, new vehicle registrations have risen and used vehicle registrations have stabilized in the past year, though supply remains below pre-Covid levels. Limited used vehicle inventory and high interest rates continue to impact buyers, creating pent-up demand among near- and non-prime consumers.

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 a partnership with Point Predictive, experts in predictive science. Designed to bring enhanced speed, security, and performance to automotive lenders, the partnership integrates the capabilities of Point Predictive’s new IEValidate™ solution, and IncomePass™ solution into Open Lending’s Lenders Protection™ loan decisioning engine.

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 released a new Near- and Non-Prime Consumer Update, continuing its quarterly report series on automotive lending trends among near- and non-prime consumers. The report covers vehicle sales volume, interest rates, payment trends and consumer preferences in the first quarter of 2024. In addition to national data, this research offers findings on regional near- and non-prime automotive lending.

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 a partnership with Securian Financial Group, Inc. (“Securian Financial”). The partnership enables Open Lending to provide insurance coverage through its flagship Lenders Protection™ program as market volatility compromises automotive loan portfolios.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, is pleased to announce Dan Berger, former President and CEO of the National Association of Federally-Insured Credit Unions (“NAFCU”) will be a strategic advisor to Open Lending’s executive leadership team. As a trusted advisor, Berger will collaborate closely with Open Lending to enhance product offerings and innovation, drive market share, and further expand relationships with credit unions across the country.

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 released its second annual Lending Enablement Benchmark Report. Report findings reveal that traditional methods of assessing borrower creditworthiness are exposing automotive lenders to risk and volatility as delinquencies rise.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, was recently selected by OneAZ Credit Union (“OneAZ”) as their lending enablement solution for automotive loans. The partnership will help OneAZ expand access to auto loans for underserved populations of Arizona while also protecting the assets of its members with deposits from the downside risk of defaults on auto loans.

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 released a new Near- and Non-Prime Consumer Update, continuing its quarterly report series on automotive lending trends among near- and non-prime consumers. The latest Update uncovers disproportionate economic impacts on the underserved, spotlighting opportunities for automotive lenders to drive vehicle accessibility.

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 the winners of their inaugural Economic Vehicle Accessibility Awards (“EVAAs”). The winning banks and credit unions are Open Lending partners that are driving vehicle access through financing opportunities for creditworthy 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, has launched a partner integration with Automatic, a platform that connects automotive lenders with independent, used vehicle dealerships. The partnership will help Lenders Protection™ users to grow their indirect lending relationships by delivering instant, accurate decisions to dealers within a single platform.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has launched a partner integration with CreditSnap, a fintech platform that allows financial institutions to deliver lending and deposit account automation using pre-qualification technology, application programming interface (“API”) integrations and more. CreditSnap’s platform pairs with Open Lending’s loan decisioning engine, Lenders Protection™, to deliver a more seamless lending process, allowing financial institutions and OEM captive finance companies to provide informed loan decisions.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, has completed a study on vehicle accessibility and automotive financing perceptions among near- and non-prime consumers. As high interest rates and vehicle prices create affordability barriers, the findings show how lower-credit consumers approach car ownership and manage debt, highlighting opportunities for lenders to engage creditworthy near- and non-prime consumers. The full report will be released in February.

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 it has joined the Credit Union National Association (CUNA) as an Associate Business Member.

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 recognition as a finalist for the 2023 NAFCU Innovation Award for its enhanced Lenders Protection™ program. Announced last week, the addition of new alternative data attributes more accurately identifies the risk profiles of more credit-worthy applicants along with new-to-credit individuals, empowering financial institutions to extend loans to more applicants while growing return on assets and managing risk through advanced AI capabilities. The NAFCU Innovation Awards recognize groundbreaking technology and software solutions that meaningfully enable credit unions to succeed in an ever-changing marketplace.

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 released the addition of new alternative data attributes for auto loan applicants to more accurately inform the risk score generated by its Lenders Protection™ solution. Access to expanded criteria from TransUnion and LexisNexis allows Lenders Protection to analyze more robust car buyer data for loan decisioning. These enhancements help financial institutions provide more competitive pricing to a larger borrower pool, increase loan volume, minimize risk and grow return on assets with the true capability that comes from extensive data fueling cutting-edge AI.

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.

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 the launch of the Open Lending Economic Vehicle Accessibility Awards (EVAAs). The new awards program recognizes Open Lending partners who are paving the way for equitable vehicle accessibility by extending loans to deserving, yet often overlooked, near-prime 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 Chief Technology Officer Sarah Lackey has been elected to the Forbes Technology Council, an invitation-only community for CIOs, CTOs, and technology executives.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today released its Lending Enablement Benchmark report. The goal of the research is to uncover how financial institutions are using technology to adapt to an ever-evolving auto lending environment.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today released the results of a case study that shows how the state of Washington’s Sound Credit Union has grown its direct and indirect automotive loan volume and yield with Lenders Protection™.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, has released initial findings from a survey of financial institutions across the U.S. With responses from 95 leaders at credit unions, banks and captive finance companies of all sizes, the report illuminates the challenges financial institutions are facing in 2023 and how they are using lending enablement solutions to compete in the market.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, has announced a partnership with Crescent Bank, an institution offering auto loans to consumers across 32 U.S. states. As rising interest rates and vehicle prices inhibit access to car ownership for consumers in near- and non-prime credit segments, Open Lending’s Lenders Protection™ platform will empower Crescent Bank to grant loans to underserved borrowers via a streamlined approval process.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in auto lending enablement and risk analytics solutions for financial institutions, today announced it has increased its allowable vehicle age from nine to eleven years. Powered by Lenders Protection™, this increase in vehicle age builds on Open Lending’s commitment to make car ownership more accessible for those in near and non-prime credit segments. The change also allows financial institutions to grow their portfolios while maintaining protection through Open Lending’s default insurance and risk management program.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced the appointment of Kevin Filan as Senior Vice President of Marketing.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, has announced the full results of a survey on vehicle accessibility in the U.S. With responses from 1,347 full- and part-time employees, including 597 car owners and 750 non-car owners, the survey examines barriers to car ownership, misperceptions around the lending process, and opportunities for lenders to expand their customer base by reaching those who believe they can’t afford a car.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and analytics solutions for financial institutions, has completed a survey on vehicle accessibility and consumer perception in the U.S. As car prices climb and more Americans return to in-person work environments, the survey’s findings shed light on the vehicle affordability crisis, as well as reveal how these barriers impact Americans’ quality of life and influence their beliefs about what financial products they can access. The findings also validate lenders’ opportunity to prove wrong the consumer perception across all credit segments that automobile loans aren’t an accessible option for them.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced it is partnering with one of the nation’s largest credit unions, America First Credit Union (AFCU). AFCU will now offer indirect lending services through Open Lending’s Lenders Protection™ program, allowing automotive dealers to give more opportunities for vehicle loans to their future members that are near and non-prime or emerging-prime.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or “the Company”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced it will provide clients the ability to offer 84-month terms for new and used vehicles up to four years old, with less than 60,000 miles. This is an increase of nine months from its previous maximum term. In addition, Open Lending will now provide its clients the ability to offer a higher PTI (Payment to Income) ratio for indirect lending, increasing full approvals and higher funding ratios due to fewer counter offers. Both offerings will help financial institutions increase loan volume, minimize risk and increase return on assets.