IRVINE, Calif. –Origence and Eltropy said they are expanding a partnership announced in late 2022 to deliver an “enhanced” loan origination experience.
“The integration between Origence and Eltropy combines the strengths of both platforms, providing a comprehensive solution for credit unions to drive revenue growth, increase agent efficiency, and deliver an exceptional loan origination experience,” the companies said.
According to Eltropy, the partnership, initially announced in December of last year, addresses a significant challenge faced by credit unions and their members – effective communication in the lending process.
“For many credit unions, the time to approve a loan can significantly increase due to extensive back and forth phone calls and emails,” the company said.
New Benefits
Eltropy said that by integrating its product offering within the Origence platform, the partnership will provide an opportunity for credit unions to speed up the lending process, offering benefits that include:
- Enhanced agent efficiency. “Seamless 1:1 text conversations within the Origence environment improves agent productivity.”
- Streamlined document collection. “Eltropy's trackable, secure links expedite document collection from the member and sync uploaded documents directly to the application within arc OS, reducing the time and effort required to fund loans.”
- Two-way text messaging. “Credit unions can text their members in real-time throughout the lifecycle of the application process.”
- Instant notifications. “Credit unions receive real-time email notifications for efficient communication and follow-up.”
- Instant support. “Connect to your members online by leveraging live chat built within arc DX.”
Eltropy said future enhancements will include loan status updates.
Addressing a Challenge
"One of the biggest challenges credit unions face is communication with their members," said Bill Lynch, VP of partnerships at Origence. "Our focus is on transforming the lending experience for all types of loans. By integrating Eltropy's messaging solutions into our arc OS origination system, we are elevating the borrower experience, resulting in the ultimate loan origination experience for our members."
Origence has more than1,100 credit unions in its network; Eltropy serves more than 550 credit unions and community banks.
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