Community banks and credit unions are under increasing pressure to grow deposits, drive lending, and improve efficiency, all while delivering a modern, digital-first experience.
In response, MeridianLink, a provider of lending software platforms for financial institutions, has announced a new wave of enhancements across its MeridianLink One platform to help institutions unlock the power of data for smarter, accelerated growth opportunities.
This includes MeridianLink Insight for Mortgage, an out-of-the-box analytics solution tailored for mortgage lending delivering 60-plus pre-built dashboards and hundreds of customizable data views to help lenders accelerate decisions, identify friction points, and increase pull-through and cross-sell rates.
Also among the enhancements is MeridianLink Insight for Collect, a solution to equip financial institutions with real-time consumer data and advanced analytics to drive smarter, more strategic collections by helping them to prioritize outreach, improve repayment rates, and reduce wasted effort to boost ROI.
In addition, MeridianLink has enhanced its digital acquisition tools. The new capabilities in MeridianLink Access and MeridianLink Opening make it easier for consumers and small-business owners to open accounts, the company says in a release.
What’s more, MeridianLink Access now features automated cross-sell offers: A new capability that enables financial institutions to instantly present personalized product recommendations in real-time, turning each application – whether a consumer opens a deposit account, loan, or credit card – into an opportunity to deepen relationships.
“As consumer and mortgage banking needs rapidly evolve, we are committed to innovation across the MeridianLink One platform so that our customers can compete, grow, and win,” says Devesh Khare, chief product officer, MeridianLink. “These advances showcase how we’re arming customers with robust data including peer benchmarks along with expanded automated workflows to simplify account opening and lending applications processes.”
The MeridianLink One platform empowers financial institutions to develop lifelong financial management relationships by supporting every stage of a consumer’s financial journey with a comprehensive banking software platform.
With solutions that span the entire digital lending journey – from deposit account opening, consumer and mortgage loan origination, data access and verification, business consulting, analytics, collections, and scoring – the platform’s seamless integration eliminates the need for disparate financial systems, reduces silos, and increases efficiencies.