LendKey Closes $54 Million Unsecured Consumer Loan Pool Sale for Ent Credit Union
LendKey closed $54M unsecured consumer loan sale for Ent Credit Union via ALIRO loan trading platform, enhancing efficiency & expanding investor pool.
The transaction was completed swiftly and efficiently through LendKey’s ALIRO loan trading platform, streamlining the process to provide Ent with a seamless experience from start to finish. ALIRO enabled Ent to access a broader pool of potential investors while maintaining control over the loan portfolio.
ALIRO was built upon years of loan origination and syndication experience and allows financial institutions to buy and sell whole loans and loan participations in either one-time transactions or forward flow programs across any asset class. The functionality of ALIRO provides more thorough pre-trade diligence and analysis to maximize profitability by evaluating both trade opportunities and funding strategies.
Vince Passione, Founder and CEO of LendKey, emphasized the opportunities the partnership presents for both parties. "We were thrilled to partner with Ent and facilitate this significant transaction through ALIRO. This collaboration underscores our commitment to empowering credit unions with cutting-edge technology solutions to drive growth and optimize their liquidity."
For more information about LendKey and its innovative network lending solutions, please visit www.lendkey.com.
About LendKey:
LendKey is a financial technology firm and leader in providing network lending solutions to credit unions, community banks, and customers. LendKey works with clients by providing digital loan origination and servicing capabilities and delivering a loan trading marketplace platform for financial institutions and fintechs.
LendKey pioneered the concept of "digital lending networks," which harnesses the collaborative nature of community-based financial institutions to build standard lending programs for private student loans, student loan refinance, and home improvement loans. These programs utilize LendKey's lending-as-a-service platform to provide customer acquisition, online decisioning, loan origination, loan servicing, customer service, and back-office support.
ALIRO is LendKey's loan trading marketplace where financial institutions and other market participants can easily transact. Loans are offered for sale and purchased in either whole loan or fractional loan participation format, and the platform supports both one-time and forward-flow transactions. ALIRO delivers the technology, tools, and ongoing service that financial institutions need to evaluate, execute, and manage loan trades to optimize their balance sheet and risk, focusing on improving net interest income.
Since 2009, LendKey has empowered more than 350 financial institutions to offer competitive loan programs and increase their digital presence across various customer acquisition channels and marketplaces. Today, LendKey has helped its clients deploy over $6 billion in loans and services over $3 billion in consumer loans. Visit lendkey.com or JoinALIRO.com for more information.
Michelle Asher
LendKey
+1 646-854-9272
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