LendKey, formerly known as Fynanz, is a cloud-based lending platform that offers the essential infrastructure for credit unions to quickly, securely, efficiently, and profitably lend to anyone. Starting as a private student lending solutions provider that has enabled over 230 credit unions to enter the private student loan and private student loan consolidation markets, LendKey works collaboratively with its lending partners to develop new lending products to meet their growing demand.
Cloud-based lending platforms allow lenders to quickly and cost effectively enter and test new lending markets, without the expensive investment in capital or operational expenditures once associated with lending infrastructure and its required resources. Cloud driven platforms allow organizations, such as lenders, to utilize excess capacity that exists in computing networks much like a public utility provider.
LendKey’s cloud-based platform offers lenders two operating models; “Service Bureau” and “SaaS”. Service bureau clients rely on LendKey’s staff of financial professionals to manage and run their entire lending process to their criteria, while SaaS clients run the system themselves remotely by utilizing their own staff.
Once utilizing the platform only for private student lending, LendKey will soon be able to offer clients loan products, and participation in lending ecosystems, covering private student loans, private student loan consolidations, and home improvement loans. LendKey will build out cloud functionality for new asset classes and continue to make its platform more robust as its clients demand.
Regardless of the operating model or asset class, LendKey presents a solution for any credit union client looking for a cost-effective and secure alternative to once expensive and high-maintenance infrastructure requirements.
For more information, contact Jim Merrill, SVP Sales/Client Services, at email@example.com or (646) 626-7410, or visit www.lendkey.com.