Eltropy and Origence partnership elevates loan origination experience for consumers
Based on popular demand, Eltropy is now integrated within the Origence arc OS and arc DX loan and account origination platform, to increase closing rates, enhance the member experience, and expedite the lending process
MILPITAS, CA (July 25, 2023) — Eltropy, the leading digital communications platform for community financial institutions (CFIs), and Origence, the leading lending technology solutions provider for credit unions, are expanding their partnership to deliver an enhanced loan origination experience. The integration between Origence and Eltropy combines the strengths of both platforms, providing a comprehensive solution for credit unions to drive revenue growth, increase agent efficiency, and deliver an exceptional loan origination experience.
The partnership, initially announced in December, addresses a significant challenge faced by credit unions and their members – effective communication in the lending process. For many credit unions, the time to approve a loan can significantly increase due to extensive back and forth phone calls and emails.
By integrating Eltropy’s product offering within the Origence platform, the partnership will provide an opportunity for credit unions to speed up the lending process, offering several key benefits:
Enhanced agent efficiency: Seamless 1:1 text conversations within the Origence environment improves agent productivity.
Streamlined document collection: Eltropy’s trackable, secure links expedite document collection from the member and sync uploaded documents directly to the application within arc OS, reducing the time and effort required to fund loans.
Two-way text messaging: Credit unions can text their members in real-time throughout the lifecycle of the application process.
Instant notifications: Credit unions receive real-time email notifications for efficient communication and follow-up.
Instant support: Connect to your members online by leveraging live chat built within arc DX.
Coming soon – Loan status updates: Members receive automated, real-time loan status alerts throughout the lifecycle of their application.
“One of the biggest challenges credit unions face is communication with their members,” said Bill Lynch, vp of partnerships at Origence. “Our focus is on transforming the lending experience for all types of loans. By integrating Eltropy’s messaging solutions into our arc OS origination system, we are elevating the borrower experience, resulting in the ultimate loan origination experience for our members.”
The Origence-Eltropy integration empowers credit unions to service their members more efficiently, leading to higher closing rates.
“The demand for this integration between Origence and Eltropy has exceeded our expectations, with our mutual customers eagerly awaiting the integration to unlock the full potential of the two platforms,” said Jason Smith, Eltropy’s vp of strategic partnerships. “We look forward to its implementation, knowing it will significantly improve our customers’ operational efficiency.”
Origence, renowned for its extensive network of over 1,100 credit unions, and Eltropy, serving more than 550 credit unions and community banks, are uniquely positioned to drive transformative change in the lending landscape. By leveraging Eltropy’s text message lending capabilities as part of its industry-leading Digital Conversations Platform, users of the arc OS origination platform, can achieve higher closing rates, reduce abandonment rates, and enhance member satisfaction throughout the loan process.
Eltropy is the industry’s first AI-driven l conversations platform for community financial institutions (CFIs). Its AI-driven communications tools empower CFIs to communicate, automate, improve operations and engagement, and increase productivity across the institution – all while maintaining the highest standards of security and compliance. Using Eltropy's platform, CFIs can connect with their consumers anytime, anywhere via text, video, secure chat, co-browsing, screen sharing, and chatbot technology — all integrated into a single platform. For more information, please visit eltropy.com.
Origence provides the lending technology solutions credit unions need to advance their total origination experience. We were established in 1994 as a credit union service organization (CUSO) and have helped credit unions process more than 88 million applications, including 9 million applications in 2022. Our solutions include indirect lending, loan and account origination, auto shopping, marketing automation, lending operations, and more. Origence was named the 2023 CUSO of the year by NACUSO. Learn more at www.origence.com and follow us on Twitter and LinkedIn.