Student loan provider LendKey, based in New York City, said Wednesday it has surpassed $500 million in loan volume originated and serviced on its cloud-based technology platform.
“Lenders today face significant challenges in effectively deploying their capital into the retail lending market,” said Vince Passione, LendKey's CEO. “Surpassing $500 million in loans originated through our platform is a testament to the demand that lenders have for this solution.”
LendKey, founded in 2008, has primarily provided financial institutions, including credit unions, with lending platforms for private student loans and private student loan consolidations.
The company said it currently offers student lending infrastructure to more than 260 financial institutions as both a technology and business process-outsourcing provider, which includes marketing and demand generation support in addition to loan origination and servicing.
“We're excited to continue to help lenders solve this problem through student lending, as well as many other potential asset classes down the road,” Passione said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
