MeridianLink Announces Marketing Automation Product Advancements

Rhea-AI Summary

MeridianLink, Inc. (NYSE: MLNK) unveiled enhancements to its MeridianLink Engage platform, aimed at empowering financial institutions with personalized marketing automation tools. These updates streamline pre-screening and account opening processes, enabling quicker targeted campaigns. Notable new features include integration with MeridianLink Opening, online banking notifications, and expanded credit bureau capabilities with Equifax. The enhancements enable financial institutions to save time and improve customer engagement through advanced data segmentation. The updates reflect the company’s commitment to fostering deeper consumer relationships and driving growth.

Positive

• Introduction of features that streamline the pre-screening and account opening process, reducing campaign launch time.
• Integration with Equifax enhances customer options for pre-screen campaigns, increasing flexibility.
• New online banking notifications allow for targeted marketing directly to consumers during their online banking usage.

Negative

• None.

Enhancements to MeridianLink Engage—the marketing automation component of the company’s multi-product platform, MeridianLink One—empowers financial institutions with personalized data and campaigns to build deeper connections with consumers and grow their customer base

COSTA MESA, Calif.--(BUSINESS WIRE)-- MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced the expansion of its MeridianLink^® Engage platform. These new advancements to the Company’s marketing automation solution save valuable time in the pre-screening and deposit account opening process and enable customers to launch targeted marketing campaigns faster, delivering the right offers at the right time to consumers.

“In today’s economy, delivering personalized offers for solutions that consumers need at the moment they need them is more important than ever,” said Devesh Khare, chief product officer at MeridianLink. “That’s why we continue to expand the capabilities of MeridianLink Engage as an important part of our MeridianLink^® One multi-product offering. We are dedicated to helping our customers drive growth, reach their target audiences, and adjust campaigns to meet changing business and consumer needs.”

New Engage features include:

• Integration with MeridianLink^® Opening — Engage can now use the same frictionless offer acceptance experience for clients running deposit account origination campaigns in addition to the lending campaigns already offered through the MeridianLink^® Consumer integration.
• Home Banking/Online Banking Integrations — Engage allows customers to incorporate targeted campaign messaging to key audiences when they log in to online or mobile banking systems. In addition to the direct mail and email channels originally available, Engage now makes it possible for financial institutions to distribute product offers to qualified consumers through notifications when they log in to their online banking platform. If the consumer is interested, they are redirected to a pre-filled approval form with a single click.
• Expanded Credit Bureau Integration — At launch, Engage was integrated with Experian for pre-screen campaigns. MeridianLink has now expanded integration to Equifax, so clients who have a preferred relationship with the credit bureau can now take advantage of the pre-screen campaign option.
• Expanded Lending Campaign Options — At launch, personalized URLs (PURLs) for each member of a campaign were available only for use in pre-screened lending campaigns. MeridianLink has now added the ability to take advantage of QR Codes and PURLs in communications for all lending campaigns, including invitations to apply, credit line increase programs, and prescreen campaigns targeting prospective members or customers, extending the improved consumer experience for all lending campaign types.

“I’ve run prescreens in-house for the past six years, so when we had an opportunity to partner with the Engage team and look at streamlining processes, it was not only the right time but the right fit,” said Christine Wright, creative services manager at FedChoice Federal Credit Union. “Engage allows us to save time in each step of the prescreen process, and we are now launching campaigns 15-20 days quicker than before. PURLs and QR codes were also so well received by our members! Because the application is secure and a large portion is pre-populated, they no longer have to put in the same level of effort to complete the prescreen process as they did before.”

Engage optimizes resources for a financial institution's marketing efforts, enabling them to remove challenging data silos and the cumbersome need for IT support for data pulls, sorting, and manual reporting for marketing campaigns. Engage’s recent advancements have made it possible for clients to further grow their new customer base through expanded channels and digital integrations. Using Engage, clients have a single platform to offer consumers multiple lending, account, and card opportunities through advanced data segmentation and streamlined execution, saving valuable time and increasing consumer share of wallet.

ABOUT MERIDIANLINK

MeridianLink^® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.

MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.

Learn more at www.meridianlink.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005167/en/

Becky Frost

(714) 784-5839

becky.frost@meridianlink.com

Source: MeridianLink, Inc.

FAQ

What are the new features of MeridianLink Engage announced on January 23, 2023?

The new features include integration with MeridianLink Opening, online banking notifications, expanded credit bureau integration with Equifax, and enhanced lending campaign options.

How does MeridianLink Engage improve marketing efficiency for financial institutions?

It streamlines the pre-screening process, enables faster targeted marketing campaigns, and allows for the incorporation of personalized offers, enhancing customer engagement.

What is the significance of the new integration with Equifax for MLNK?

The integration allows clients to utilize pre-screen campaigns with Equifax, providing more options for targeting consumers.

When was the press release regarding MeridianLink Engage enhancements published?

The press release was published on January 23, 2023.