With high interest rates and chip shortage leading to lower purchases of cars, lenders at community financial institutions (CFI’s) need to act quickly to capitalize on the lower auto loan demand in the market. By ensuring their entire process to qualify, authenticate, and fund loans is efficient, and convenient for consumers, CFIs can continue gaining loan market share from MegaBanks in a down market.
One Eltropy partner, NATCO Credit Union, has enhanced its workforce productivity by combining Eltropy’s Texting with MeridianLink’s loan origination software to shave hours of manual effort while achieving faster execution time and elevating customer and member experiences.
Eltropy’s MeridianLink integration enables loan officers to work in one platform, MeridianLink, with the power of Texting from Eltropy. Lenders are able to easily send personalized Texts to their customers, collect loan documents via Text, authenticate and fund loans, without having to work from two platforms. Consumers love to Text while email and phone calls go unanswered. This leads to rapid acceleration in loan processing times, and can save loan officers more than 30 minutes per day.
“MeridianLink and Eltropy coming together under one platform is like having your right hand and left hand working at the same speed, on the same page, in the same book,” said Kimberly Davis, director of Sales and Service at Natco Credit Union. “Accelerating our lending processes with digital communications has been something we’ve wanted as an organization for a while. Eltropy’s integration with MeridianLink made it seamless and effective.”
While the need to improve lending processes and digital capabilities are not new ideas, the concept of both working together has previously been unclear. CFI’s have long demanded solutions to improve speed to funding and the ability to process more loans. The best closing solutions enable lenders to seamlessly and effectively integrate communications into lending solutions.
“Community Financial Institutions are laser-focused on how they can empower their lending department through these uncertain times,” said Ashish Garg, CEO, and Co-founder of Eltropy. “Eltropy puts the power back into the lender’s hands to better serve their consumers with secure and integrated Texting. Eltropy will continue to pursue integrations with leading- solution partners for CFI’s to deliver an enterprise-wide digital communications platform that scales.”
CFI’s will have the opportunity to see firsthand how Natco has been able to lead their lending department into the digital frontier with secure and integrated digital communications during Eltropy’s webinar on October 26, 2022, at 1 PM ET. Viewers will be able to hear from Kimberly Davis, Director of Sales and Services, about her personal experience using Eltropy to boost their lending process, along with a live demonstration of how the integration works.
About Eltropy
Eltropy enables financial institutions to engage in a secure and compliant way digitally. Using our award-winning Digital Communications Platform, community financial institutions can communicate, automate and use intelligence to improve operations, engagement and productivity. Community banks and Credit Unions use Eltropy to communicate with consumers via Text, Video, Secure Chat, co-browsing, screen sharing, and chatbot technology — all integrated into a single platform bolstered by proprietary AI, skill-based routing, and other contact center capabilities. For more information about Eltropy, please visit https://eltropy.com.
About Natco
Natco Credit Union has served its 16,000+ members since 1945, with just under $133 million in assets. Membership in Natco Credit Union is open to anyone who lives or works in the following Indiana counties – Wayne, Fayette, Randolph, Henry, Rush, Union, and Franklin. Membership is also available to any industrial worker within a 25-mile radius of Richmond and family members of an existing member. For more information about Natco Credit Union, please visit natcocu.org
