How it’s using fintech in lending: Open Lending operates in both big data and high finance to provide risk modeling and decision making software to automotive lenders.
The company’s Lenders Protection solutions helps lenders utilize proprietary data and advanced decisioning analytics to increase near and non-prime auto loan volumes, leading to higher yields with less significant risk
Industry impact: Open Lending’s automated lending services feature capabilities like loan analytics, risk-based pricing, risk modeling and automated ed as one of the 50 fastest growing companies in Central Texas every year from 2013 through 2018 by the Austin Business Journal.
How it’s using fintech in lending: LendingHome is a provider of flexible, short-term bridge loans for real estate investors who are looking to finance the purchase and rehab of an investment property. The company’s short-term mortgages feature interest rates that start at 7.5%, providing greater liquidity and a scalability unseen from traditional loan providers.
Industry impact: LendingHome has financed over 20,000 investment projects to date, with cash loaned to rehabbers totalling more than $4 billion.
How it’s using fintech in lending: Opploans gives its personal loan advocates the fintech tools they need to help personalize loans. Whether it’s a loan for car repairs, rent or medical bills, Opploan’s agents can use the technology to recommend the optimal loan for almost every situation. An applicant can get approved in as little as a few minutes and has the option to pay in installments.
Instead of standard rates and terms, Earnest uses personal data to formulate student, home, car, and medical loans that are based on an individual’s unique situation
Industry impact: In order to increase financial literacy, Opploans created a series of free interactive courses that teach users about different fintech tools and options to help them take control of their financial situations.
The company specializes in personalized loans for small businesses looking to open a new location, add inventory, boost their operations, refinance debt or expand their team. Profitability and a few other factors are taken into account before Bond Street is able to provide a personalized loan.
Industry impact: Bond Street has helped businesses – from mattress company Tuft & Needle to taco joint Tacombi – secure loans that helped to grow their operations.
How it’s using fintech in lending: CrediFi provides data and analytics to commercial real estate (CRE) lenders. The company’s big data platform tracks more than 10,000 U.S.-based lenders and the $13 trillion they’ve originated to map real estate lending industry trends. Additionally, CrediFi tracks the loans of more than six million property owners to ensure that lenders are making responsible, market-determined decisions.
Industry impact: In addition to information on lending, CrediFi’s platform also has access to balance sheets, securitized loans and contact information of property owners for investors looking to make smart property investments.
How it’s using fintech in lending: PeerIQ is a data and analytics firm using big data to analyze and manage risk in the peer-to-peer lending sector. The company’s SaaS platform sifts through the sea of data to bring transparency and responsible decision-making tools to loan originators, asset managers and underwriters.
Industry impact: A litany of former Wall Street executives are lining up to work with PeerIQ. The company counts the former chairman of the SEC and former CEOs of Morgan Stanley, Citigroup and Santander as just a few of its big-name wall street investors.
How it’s using fintech in lending: Earnest uses its Precision Pricing tool to determine individualized student and personal loans. The company’s proprietary technology asks the borrower how much they can afford to pay each month, and matches the user with a rate and term that works for them.