AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, just announced the certification of the one millionth auto loan through its Lenders Protection™ loan decisioning engine. This achievement underscores the Company’s ongoing efforts to empower financial institutions to grow their portfolios, create access to vehicle ownership, and drive innovation in the automotive lending industry.
Launched in 2000, Lenders Protection uses loan analytics, risk-based pricing, automated decisioning technology, and default insurance to enable financial institutions to responsibly offer vehicle financing to applicants in the near- and non-prime credit spectrum. This milestone represents years of successful partnership with credit unions, banks, and captive finance companies.
Reliable transportation is a cornerstone of economic opportunity, creating access to an improved quality of life. Through its work with automotive lenders, Open Lending has helped bring these opportunities to underserved consumers and changed countless lives by breaking down barriers to vehicle ownership and fostering long-term financial inclusion.
“Certifying our one millionth auto loan demonstrates the value of Lenders Protection in enabling financial institutions to grow securely while continuing to expand access to vehicles,” said Chuck Jehl, CEO of Open Lending. “We remain steadfast in our commitment to helping lenders not only drive results but also to make vehicle ownership possible for more people than ever before. Reaching one million isn’t just a number. It represents one million lives touched plus the lives of those in their families and communities. It is a testament to the power of the relationships that we have developed with lenders, technology partners and our insurance carriers. This milestone is a reflection of past successes as well as a stepping stone for future growth.”
Open Lending’s one millionth auto loan is just one chapter in its mission to make transportation more affordable. The Company remains focused on driving innovative enhancements for our customers and addressing evolving market needs.
Learn more at openlending.com.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.
