NEW YORK (12/5/13)--Lending technology provider LendKey has surpassed $500 million in loan volume originated and serviced on its cloud-based platform.
LendKey is a CUNA Strategic Services provider.
"Lenders today face significant challenges in effectively deploying their capital into the retail lending market," said Vince Passione, CEO of LendKey. "Surpassing $500 million in loans originated through our platform is a testament to the demand that lenders have for this solution. We're excited to continue to help lenders innovatively solve this problem through student lending, as well as many other potential asset classes down the road."
LendKey, founded in 2008, has primarily provided financial institutions with lending platforms for private student loans and private student loan consolidations. The company provides the student lending infrastructure for more than 260 financial institutions as a technology and business process outsourcing provider, which includes marketing and demand generation support in addition to loan origination and servicing.