Origence and Eltropy Partnership Elevates Loan Origination Experience for Consumers

July 27, 2023

Origence, a lending technology solutions provider for credit unions, and Eltropy, a digital communications platform for community financial institutions (CFIs), 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:

1. Enhanced agent efficiency: Seamless 1:1 text conversations within the Origence environment improves agent productivity.
2. 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.
3. Two-way text messaging: Credit unions can text their members in real time throughout the lifecycle of the application process.
4. Instant notifications: Credit unions receive real-time email notifications for efficient communication and follow up.
5. Instant support: Connect to your members online by leveraging live chat built within arc DX.
6. 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, vice president 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 vice president 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.

Posted in Public Awareness, Regional Member News.