rewrite this title Union Credit Teams Up with MeridianLink to Enhance Lending at the Point of Purchase – Finovate

Union Credit has announced a new partnership with MeridianLink.

The partnership will simplify and streamline the lending process for credit unions with real-time financing solutions at the point of purchase.

Union Credit most recently demoed its technology at FinovateFall 2024.

Union Credit, a marketplace for credit unions that offers pre-approved, one-click credit offers at the point of purchase, has teamed up with software platform MeridianLink. The partnership will help simplify the lending process for credit unions with seamless, real-time financing solutions that can help drive member growth.

“Our goal is to simplify lending processes, turning them into a seamless, hassle-free acquisition tool for credit unions, while providing consumers access to an array of local financing options and all the great benefits of credit union membership,” Union Credit Co-Founder and CRO Barry Kirby said. “By reducing manual input and improving efficiencies for credit unions, we’re helping them grow their membership while redirecting resources to other strategic areas.”

Union Credit believes that making it easier for consumers to secure pre-approved offers when they shop not only creates a more convenient financing experience, but also can help credit unions attract and retain new members. The partnership with MeridianLink will enable credit unions in Union Credit’s marketplace to leverage a direct integration with MeridianLink’s loan origination system (LOS) for efficient lending and onboarding. This enables credit unions to process more applications faster and reduce manual data entry while boosting loan volume and membership growth.

MeridianLink’s loan origination technology offers features such as single sign-on, smart cross-sell, and flexible account opening. The company’s cloud-based platform includes a built-in price engine, seamless third-party integrations via Open API, as well as “best-in-class” client support that starts with implementation. The Costa Mesa, California-based company is publicly held, trading on the New York Stock Exchange under the ticker MLNK, and has a market capitalization of $1.45 billion. Nicolaas Vlok is CEO.

Headquartered in Santa Rosa, California, Union Credit made its Finovate debut at FinovateFall 2023 and returned the following year for FinovateFall 2024. Most recently, the company demoed its Always Approved Marketplace SDK, which provides API services that can be used by third parties for member eligibility checks, rate lookup, instant offer generation, and more.

Winner of the “Top Emerging Fintech Company” award at the 2023 Finovate Awards, Union Credit recently announced that it had integrated more than 50 credit unions into its marketplace in 2024. This represents more than 20,000 new members — 60% of whom were under the age of 40.

Photo by Tatiana Rodriguez on Unsplash

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