{"id":795506,"date":"2024-12-17T09:06:47","date_gmt":"2024-12-17T14:06:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/open-lending-secures-third-oem-captive-finance-company-partnership\/"},"modified":"2024-12-17T09:06:47","modified_gmt":"2024-12-17T14:06:47","slug":"open-lending-secures-third-oem-captive-finance-company-partnership","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/open-lending-secures-third-oem-captive-finance-company-partnership\/","title":{"rendered":"Open Lending Secures Third OEM Captive Finance Company Partnership"},"content":{"rendered":"

\nAgreement demonstrates continued importance of near- and non-prime consumers to captive lenders and Company\u2019s industry leadership
\n<\/h2>\n
\n

AUSTIN, Texas, Dec. 17, 2024 (GLOBE NEWSWIRE) — \u202fOpen Lending<\/a> Corporation\u00a0(Nasdaq: LPRO) (the \u201cCompany\u201d or \u201cOpen Lending\u201d), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that it entered into an agreement with the captive finance company of a premier automaker to begin utilizing Open Lending\u2019s flagship Lenders Protection\u2122 program. This is the Company\u2019s third such partnership with an automotive captive finance company. This agreement will enable the Company\u2019s newest OEM partner to access more near- and non-prime consumers with the unique benefits of Open Lending\u2019s automated decisioning and default insurance coverage.<\/p>\n

\u201cWe couldn\u2019t be more excited about the addition of a third OEM captive finance company to our customer base,\u201c said Chuck Jehl, CEO of Open Lending. \u201cThis company desired to expand its business by responsibly lending to consumers who are deeper in the credit spectrum than most of their borrowers have historically been. As with so many of Open Lending\u2019s customers, our Lenders Protection solution is the perfect fit. This new relationship further validates Open Lending\u2019s value proposition to auto lenders generally. Full testing and implementation is near completion with a targeted rollout scheduled to begin in early 2025.\u201d<\/p>\n

\u201cSigning our third captive finance company is an important milestone for Open Lending,\u201d Mr. Jehl added. \u201cI\u2019d like to thank our co-founder and enterprise account consultant, Ross Jessup, for all his efforts in making today\u2019s announcement a reality.\u201d<\/p>\n

\u201cOur expertise in near- and non-prime lending was a significant factor in this captive finance company\u2019s decision to partner with Open Lending,\u201d said Mr. Jessup. \u201cThis partnership helps lenders grow safely, strengthens dealer relationships, and ensures OEMs retain their customers within the brand.\u201d<\/p>\n

Open Lending\u2019s approach to integration will assist with efficiencies within the captive finance company\u2019s process, from initial scoring of an application, to loan structuring and pricing, and all the way through servicing. Using alternative data, Lenders Protection prices and structures automotive loans according to each applicant\u2019s unique financial profile and vehicle valuation, enabling financial institutions to securely offer loan opportunities to near- and non-prime borrowers.<\/p>\n

Learn more at openlending.com<\/a>.\u00a0<\/p>\n

\n About Open Lending\u202f\u00a0<\/strong>
\n
Open Lending\u202f(NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout\u202fthe United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit\u202fwww.openlending.com<\/a>.<\/u>\u00a0<\/p>\n

Contact\u00a0<\/p>\n

Open Lending Media Inquiries\u00a0
press@openlending.com<\/a>\u00a0\u00a0<\/p>\n

Open Lending Investor Relations Inquiries\u00a0
InvestorRelations@openlending.com<\/a> \u00a0<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Agreement demonstrates continued importance of near- and non-prime consumers to captive lenders and Company\u2019s industry leadership AUSTIN, Texas, Dec. 17, 2024 (GLOBE NEWSWIRE) — \u202fOpen Lending Corporation\u00a0(Nasdaq: LPRO) (the \u201cCompany\u201d or \u201cOpen Lending\u201d), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that it entered into an agreement with the captive finance company of a premier automaker to begin utilizing Open Lending\u2019s flagship Lenders Protection\u2122 program. This is the Company\u2019s third such partnership with an automotive captive finance company. This agreement will enable the Company\u2019s newest OEM partner to access more near- and non-prime consumers with the unique benefits of Open Lending\u2019s automated decisioning and default insurance coverage. \u201cWe couldn\u2019t be more excited about … <\/p>\n

Continue reading “Open Lending Secures Third OEM Captive Finance Company Partnership”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-795506","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOpen Lending Secures Third OEM Captive Finance Company Partnership - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/open-lending-secures-third-oem-captive-finance-company-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Open Lending Secures Third OEM Captive Finance Company Partnership - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Agreement demonstrates continued importance of near- and non-prime consumers to captive lenders and Company\u2019s industry leadership AUSTIN, Texas, Dec. 17, 2024 (GLOBE NEWSWIRE) — \u202fOpen Lending Corporation\u00a0(Nasdaq: LPRO) (the \u201cCompany\u201d or \u201cOpen Lending\u201d), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that it entered into an agreement with the captive finance company of a premier automaker to begin utilizing Open Lending\u2019s flagship Lenders Protection\u2122 program. This is the Company\u2019s third such partnership with an automotive captive finance company. 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