MeridianLink Streamlines Solarity Credit Union’s Mortgage Lending into a Single, Efficient Solution
MeridianLink (NYSE: MLNK) has successfully implemented its MeridianLink® Mortgage solution for Solarity Credit Union, consolidating their mortgage operations from 13 different solutions into a single platform. The implementation has yielded significant improvements:
- Reduced application to funding time from 23 to 20 days
- Cut processing time from 21 to 14 days
- Enhanced operational efficiency
- Improved cross-sell capabilities for HELOC and small business loans
The credit union, serving approximately 50,000 members in Washington state, has integrated both MeridianLink Mortgage and Consumer solutions. The platform's open API architecture enables seamless integration with product pricing engines, title companies, and auto dealerships, while maintaining data security within a single system.
MeridianLink (NYSE: MLNK) ha implementato con successo la sua soluzione MeridianLink® Mortgage per Solarity Credit Union, consolidando le loro operazioni ipotecarie da 13 diverse soluzioni in un'unica piattaforma. L'implementazione ha portato a miglioramenti significativi:
- Riduzione del tempo di applicazione al finanziamento da 23 a 20 giorni
- Riduzione del tempo di elaborazione da 21 a 14 giorni
- Maggiore efficienza operativa
- Miglioramento delle capacità di cross-selling per HELOC e prestiti per piccole imprese
La credit union, che serve circa 50.000 membri nello stato di Washington, ha integrato sia le soluzioni MeridianLink Mortgage che Consumer. L'architettura API aperta della piattaforma consente un'integrazione fluida con i motori di pricing dei prodotti, le compagnie di titolo e i concessionari auto, mantenendo la sicurezza dei dati all'interno di un unico sistema.
MeridianLink (NYSE: MLNK) ha implementado con éxito su solución MeridianLink® Mortgage para Solarity Credit Union, consolidando sus operaciones hipotecarias de 13 soluciones diferentes en una sola plataforma. La implementación ha generado mejoras significativas:
- Reducción del tiempo de solicitud a financiamiento de 23 a 20 días
- Reducción del tiempo de procesamiento de 21 a 14 días
- Mayor eficiencia operativa
- Mejora en las capacidades de venta cruzada para HELOC y préstamos para pequeñas empresas
La cooperativa de crédito, que atiende a aproximadamente 50,000 miembros en el estado de Washington, ha integrado tanto las soluciones de MeridianLink Mortgage como Consumer. La arquitectura de API abierta de la plataforma permite una integración fluida con motores de precios de productos, compañías de títulos y concesionarios de automóviles, manteniendo la seguridad de los datos dentro de un único sistema.
MeridianLink (NYSE: MLNK)는 Solarity Credit Union을 위해 MeridianLink® Mortgage 솔루션을 성공적으로 구현하여 13개의 다양한 솔루션에서 모기지 운영을 단일 플랫폼으로 통합했습니다. 이 구현은 다음과 같은 중요한 개선을 가져왔습니다:
- 신청부터 자금 지원까지의 시간 단축: 23일에서 20일로
- 처리 시간 단축: 21일에서 14일로
- 운영 효율성 향상
- HELOC 및 소기업 대출에 대한 교차 판매 능력 향상
워싱턴주에서 약 50,000명의 회원에게 서비스를 제공하는 이 신용 조합은 MeridianLink Mortgage와 Consumer 솔루션을 모두 통합했습니다. 플랫폼의 개방형 API 아키텍처는 제품 가격 엔진, 타이틀 회사 및 자동차 대리점과의 원활한 통합을 가능하게 하며, 단일 시스템 내에서 데이터 보안을 유지합니다.
MeridianLink (NYSE: MLNK) a réussi à mettre en œuvre sa solution MeridianLink® Mortgage pour Solarity Credit Union, consolidant ses opérations hypothécaires de 13 solutions différentes en une seule plateforme. La mise en œuvre a entraîné des améliorations significatives :
- Réduction du temps de demande à financement de 23 à 20 jours
- Réduction du temps de traitement de 21 à 14 jours
- Amélioration de l'efficacité opérationnelle
- Amélioration des capacités de vente croisée pour les HELOC et les prêts pour petites entreprises
La caisse de crédit, qui sert environ 50 000 membres dans l'État de Washington, a intégré à la fois les solutions MeridianLink Mortgage et Consumer. L'architecture API ouverte de la plateforme permet une intégration fluide avec les moteurs de tarification des produits, les sociétés de titres et les concessionnaires automobiles, tout en maintenant la sécurité des données au sein d'un système unique.
MeridianLink (NYSE: MLNK) hat erfolgreich seine MeridianLink® Mortgage Lösung für die Solarity Credit Union implementiert und ihre Hypothekenoperationen von 13 verschiedenen Lösungen in eine einzige Plattform konsolidiert. Die Implementierung hat signifikante Verbesserungen gebracht:
- Verkürzung der Antrags- zu Finanzierungszeit von 23 auf 20 Tage
- Verkürzung der Bearbeitungszeit von 21 auf 14 Tage
- Verbesserung der operativen Effizienz
- Verbesserung der Cross-Selling-Möglichkeiten für HELOC und Kleinstkredite
Die Kreditgenossenschaft, die etwa 50.000 Mitglieder im Bundesstaat Washington betreut, hat sowohl die MeridianLink Mortgage- als auch die Consumer-Lösungen integriert. Die offene API-Architektur der Plattform ermöglicht eine nahtlose Integration mit Produktpreis-Engines, Titelgesellschaften und Autohäusern, während die Datensicherheit innerhalb eines einzigen Systems gewahrt bleibt.
- Reduced mortgage processing time by 33% (from 21 to 14 days)
- Decreased application to funding timeline by 13% (from 23 to 20 days)
- Consolidated 13 different solutions into one platform, improving operational efficiency
- Enhanced cross-selling capabilities across multiple product lines
- None.
Open API allows for easy integration with outside partners and their core systems
Before MeridianLink Mortgage, Solarity Credit Union used 13 different solutions for its mortgage department. Since implementing MeridianLink, the credit union seamlessly integrated its mortgage lending into a singular solution. The results include a streamlined application to funding process, cutting the time from application to funding from 23 days to 20; reduced time processing from 21 days to 14; and increased operational efficiency.
Additionally, by taking advantage of the MeridianLink® One unified platform, the credit union enabled stronger consumer and mortgage cross-sell capabilities. The cross-sell initiative allows staff to support other product lines, such as HELOC (Home Equity Lines of Credit) and small business loans involving real estate. This not only makes the workforce more versatile but also helps to reduce dependence on siloed roles.
“MeridianLink has helped us with our digital path forward by really providing us with a one-stop-shop solution,” said James Wise, business solutions manager at Solarity Credit Union. “The technology has provided the efficiency and simplification that is needed for a small credit union like us to really thrive and compete within our marketplace. Time is money, and we find that time efficiency is saving us money in the long run that we can then pass on to our membership.”
MeridianLink’s set of application programming interfaces (APIs) also ensured that Solarity Credit Union could integrate product and pricing engines into the LOS, as well as introduce existing relationships with other key stakeholders. This allows customers to keep data within one product offering, helping mitigate the risk of data leaks. For example, title companies have been added to the mortgage LOS, and auto dealerships have been incorporated into the consumer LOS.
As a customer using both MeridianLink Mortgage and MeridianLink Consumer, Solarity Credit Union has already seen measurable improvements due to its commitment to digital progression. Not only has the technology created faster, more personalized banking experiences for the credit union’s members, it has allowed for simplifications to help the institution’s staff.
“No matter the size of the financial institution, MeridianLink’s suite of product offerings can transform digital capabilities and help deliver the best possible consumer experience,” said Devesh Khare, Chief Product Officer at MeridianLink. “We’re excited to further expand our partnership with Solarity Credit Union to bring more of the MeridianLink ecosystem to them and to create improvements that allow them to meet their members wherever they are.”
As the credit union targets a younger, Gen Z audience, and particularly as these individuals enter their peak spending years, Solarity Credit Union will continue to lean on MeridianLink to ensure that members can use mobile or online technology to easily navigate their finances.
For more information about MeridianLink Mortgage, MeridianLink Consumer, or how it can serve financial institutions, visit the Company website.
ABOUT MERIDIANLINK
MeridianLink® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.
For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.
ABOUT SOLARITY CREDIT UNION
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PRESS CONTACT
Sydney Wishnow
meridianlinkPR@clyde.us
508-808-9060
Source: MeridianLink, Inc.
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