Press
Fynanz Ventures into the Lending Cloud, Rebrands as LendKey
New York (January 31, 2013) – Fynanz, the private student lending solutions provider that has enabled over 230 credit unions to enter the private student loan and private student loan consolidation markets, is rebranding to LendKey; a cloud-based lending platform that offers the essential infrastructure for lending organizations to quickly, securely, efficiently, and profitably lend to anyone.
According to LendKey CEO and Founder Vince Passione, LendKey’s innovative and flexible cloud based technology solutions empower lenders to safely and quickly access lending markets for multiple asset classes. The rebranding will transition the company from its original identity as Fynanz, a student loan technology provider, to LendKey, an industry leader in cloud based lending technology.
LendKey’s cloud-based lending technology platform empowers any lender to offer high quality, secure, responsible loans. It allows anyone to set up a full-scale, fully compliant lending operation within weeks, as well as tap into a community of like-minded lenders. Its range of products enables every component of a loan, which includes:
- Credit Decisioning (determining whether someone is a good risk)
- Origination (gathering key borrower information)
- Participation (sharing and trading loans to spread risk)
- Servicing (collecting payments)
- Demand Generation (marketing and portfolio growth)
“A cloud-based lending platform like LendKey can enable lenders to reduce their capital and operational expenditures as they continue to lend and expand into other lending products,” says Passione.
About LendKey
Formerly private student lending solutions provider Fynanz, New York-based LendKey now offers cloud-based lending technology to provide the essential infrastructure for credit unions or any party to quickly, securely, efficiently, and profitably lend to anyone – from those offering loans directly to those structuring new types of loans. LendKey’s lending solutions to credit unions nationwide primarily provide loans pertaining to automobiles, students, or green efforts. The three-year-old company’s clients and partners, 230 credit unions and the Credit Union National Association, have exclusively leveraged the platform for private student lending purposes. As LendKey, it opens its lending to green construction and automobile markets. For more information, visit www.lendkey.com.