Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Fynanz rebrands as LendKey with cloud platform
NEW YORK (2/4/13)--Private student lender Fynanz has rebranded itself as LendKey and converted to a cloud-based lending platform to expand the lending services it offers.

LendKey, formerly known as Fynanz, now offers student lending, automobile and home improvement loans through a cloud-based platform. Its lending services now include underwriting, origination, participation and servicing. (Photo provided by LendKey)
Fynanz is a CUNA Strategic Services provider.

LendKey now offers student lending, and automobile and home improvement loans. Its lending services now include underwriting, origination, participation and servicing.

"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," said  Vince Passione, LendKey founder and CEO.

LendKey's cloud-based lending allows credit unions to set up a full-scale, fully compliant lending operation within weeks. The loan components it offers, include:

  • Credit decisioning--determining whether an applicant is a good risk;
  • Origination--gathering key borrower information;
  • Participation--sharing and trading loans to spread risk;
  • Servicing--collecting payments; and
  • Demand generation--marketing and growing the portfolio.
LendKey also announced it closed out 2012 by adding seven new clients in December, bringing the company's client total to 232.
RSS print
News Now LiveWire
Don't Mullet Over: Check out @ECCU1's meme-rable campaign that brought in $8M in loans #NewsNow http://t.co/vNh2q01gcg
2 hours ago
#FOMC minutes show committee members debated erasing 'considerable time' from forward guidance #NewsNow #Market http://t.co/Gw0bEIFCe2
4 hours ago
NCUA votes 2 to 1 to approve 2015 budget: McWatters is dissenting vote.
5 hours ago
.@TheNCUA bd mmber McWatters at #NCUAbdmeeting invited specific, detailed comments on budget/budgetary process to be sent directly to him.
5 hours ago
Next year bd member McWatters wants CU community to see agency budget items at least 2 weeks before any budget hearing.
5 hours ago