Harland Clarke’s Loan Engine Manages and Markets Multiple Loan Products Simultaneously
June 18, 2019
One of the most important values for credit unions members is the ability to apply for and secure loans, such as home equity, auto, personal, and other loan products. This important revenue generator is also critical to credit unions’ bottom line. In order to improve the loan experience for members and achieve long-term growth across their entire loan portfolios, smart credit unions are turning to a proven solution from Strategic Link partner Harland Clarke – LoanEngine.
LoanEngine is an always on, pro-active loan acquisition solution that continually prescreens and matches qualified candidates with a unique set of personalized offers. It enables credit unions to market multiple loan products simultaneously to members, across multiple channels, such as direct mail, email, online, and mobile banking.
This smart solution provides ease for credit union members who are able to view and accept prescreened, personalized loan offers at their convenience, knowing beforehand their interest rates, monthly payments, and other loan terms for all the loans they qualify for.
One recent case study saw excellent early returns that resulted in steady increases across the board, with overall loan volume reaching as high as 395, loan acquisition costs as low as $33, and ROIs peaking at 4,350 percent.
Case study results reported that “LoanEngine was easily implemented into the financial institution’s business processes … Additionally, the financial institution received comprehensive end-to-end support, including strategic planning, managing, and reporting — with no extra effort.”
“With LoanEngine, NWCUA member credit unions have an opportunity to lower their costs, improve their members’ loan application experience, and increase their ROI,” said Jason Smith, Vice President of NWCUA Strategic Resources. “LoanEngine improves the member experience by removing borrower worry, and providing loan information members can use to reduce that worry, thereby increasing the likelihood of a response for the loan program.”
Harland Clarke is a leading provider of best-in-class integrated payment solutions and marketing services, serving multiple industries, including financial services.
Want to learn more about our Strategic Link partnership with Harland Clarke? Contact NWCUA’s Vice President, Strategic Resources, Jason Smith. To learn more about Harland Clarke, please visit them online.