Product is a first-of-its-kind for financial institutions
A new digital solution has been launched to provide simple and streamlined access to HELOCs and other credit through a customer’s mobile device.
TransUnion’s Mobile Offers Now speaks to a growing demand from customers to be served how, where and when they want, by offering instant access to prequalified credit offers on their smartphone.
“To stay competitive in an increasingly digital world, financial institutions know that they need to reduce unnecessary friction and poor experiences to attract and keep good consumers,” said Dane Mauldin, chief product officer at TransUnion. “Consumers are demanding faster ways to find offers and apply for credit when and where they need it. With Mobile Offers Now, they may simply text a key word to instantly check for prequalified offers across numerous credit products, providing a path to credit through a completely digital application process.”
First of its kind
The solution is enabled through a strategic partnership with iLendx, LLC, and is the first release within a turnkey Digital Lending suite that is fully integrated with TransUnion’s decision technology.
“This solution will enable financial institutions to quickly expand their digital presence and adopt new channels for attracting and retaining customers who expect technology and convenience,” said Andy Ivankovich, CEO of iLendx. “Less than 10% of banks can originate loans digitally and many banks face barriers to implementing their own digital platform. The suite of digital lending solutions will help financial institutions reach new demographics, enter new markets and reduce origination costs while boosting their bottom line.”
