MeridianLink and TruStage Partnership Approaches 1.5 Million Insurance Impressions
Embedded integration creates a seamless experience for borrowers getting consumer loans and selecting Payment Protection, while also reducing manual follow-up by loan officers
MeridianLink, Inc. (NYSE:MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced a significant milestone with TruStage™, a financially strong insurance, investment and technology provider. The partnership has reached more than 1.4 million insurance impressions to date as part of the consumer loan process within the MeridianLink® Consumer loan origination system (LOS).
Including Payment Protection options at the time of loan application is crucial for financial institutions as it presents a substantial opportunity to increase non-interest income. The integration has achieved a >30% Application Lead Rate and Engagement Score, as well as an impressive 47% Impression-to-Lead Rate on GAP, both of which are top-of-industry averages.
"The seamless integration of Payment Protection options within the MeridianLink® One unified platform enhances the digital application process for consumers and lending employees alike, saving time and hassle," said Megan Pulliam, SVP of MeridianLink® Marketplace. "This integration is an example of the valuable offerings available in our robust partner ecosystem and has proven to be a game-changer, as evidenced by nearly 1.5 million impressions."
TruStage and MeridianLink celebrate this milestone that fosters revenue growth and consumer satisfaction. The embedded integration of Payment Protection options from TruStage into the MeridianLink digital application process creates a seamless and non-intrusive experience for the end consumer. This has not only enhanced the lending experience but also increased non-interest revenue by embedding insurance options within the application process, where people are more likely to sign up.
"MeridianLink and TruStage have been valued partners for years, and we share a commitment to our customers and consumers, making it easy for the end user to see Payment Protection options at the time of loan application," said Lisa Pavelski, Director of Digital Capabilities, TruStage. "In today's busy world, simplifying lending and insurance processes go hand in hand for a complete loan experience."
Payment Protection from TruStage is integrated into the loan event through MeridianLink® Portal and utilizes loan data provided to offer a provisional quote of Payment Protection options. This partnership allows lenders to enhance the consumer experience and meet customers at the moment of receptivity. To learn more visit https://www.trustage.com/business-solutions/lending.
ABOUT MERIDIANLINK
MeridianLink® (NYSE:MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink's cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.
For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.
ABOUT TRUSTAGE
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit trustage.com.
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