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Loanpro

LoanPro Company Research Report



Company Overview


Name: LoanPro

Mission of the Company: LoanPro aims to unlock financial innovation through its API-first lending and credit platform which enables lenders to innovate quicker, bring lending programs to market, and drive profitable loan growth while optimizing operational efficiency.

Founded: February 2015

Founders:
  • Rhett Roberts, Co-Founder & CEO

  • Benn Roberts, Co-Founder & Strategic Advisor

  • Lloyd Roberts, Co-Founder & Strategic Advisor


Key People:
  • Rhett Roberts (CEO)

  • Benn Roberts (Strategic Advisor)

  • Lloyd Roberts (Strategic Advisor)

  • Carl Pascarella (Industry Advisor, Former President & CEO of Visa U.S.)


Headquarters: Farmington, Utah

Number of Employees: 51-200 employees

Revenue: No information available

What is the Company Known For: LoanPro is recognized for its scalable API-first lending and credit platform designed for modern lending needs, allowing for the customization of various loan and credit products.

Products


Modern Lending Core


Description: A core lending platform designed to track all lifecycle events in real time and ensure compliance with various regulations through its Compliance Safeguard system.
Key Features:
  • Robust API architecture

  • Real-Time Ledger

  • Data on Demand

  • Real-Time Replicated Database

  • Logic-Based Fields

  • Document Management

  • Reporting Suite

  • Compliance Safeguard


Origination Suite


Description: A suite to streamline loan origination with precise calculations, disclosures, and dynamic document generation.
Key Features:
  • Instant and accurate calculations

  • Unified platform for agent and borrower experiences

  • API Calculator

  • Dynamic Documents

  • Personalized Application

  • Flexible Funding options

  • Customer Conversion functionalities


Servicing Suite


Description: Tools for efficiently servicing any class of loans with deep configurability and robust automation.
Key Features:
  • Automated servicing and management

  • Enhanced customer experience through automated processing

  • Real-time data updates


Collections Suite


Description: A suite designed to handle the flexibility in collections by streamlining communications and hardship programs.
Key Features:
  • Automation Engine

  • Collections Queues

  • Borrower Portal

  • APR Match

  • Collateral Tracking

  • Comprehensive Loan Recasting

  • Communications Suite

  • Agent Walkthroughs


Payments Suite


Description: A suite that enables flexible, secure payments ensuring PCI compliance and a seamless loan repayment process.
Key Features:
  • Comprehensive Payment Adjustments

  • Payment Application Waterfall

  • Nacha File Generation and Batching

  • Payment Routing

  • PCI Compliance

  • Securely import and export payment profiles

  • AutoPay functionalities


Recent Developments


Recent Developments:
  • August 22, 2024: LoanPro partnered with ampliFI Loyalty Solutions to enhance credit card offerings with dynamic loyalty solutions.

  • August 20, 2024: Jeri Larsen joined the LoanPro executive team as Chief Customer Officer.

  • September 4th, 2023: Announced the upcoming webinar ‘Reshaping the Future of Card Programs’ to explore industry trends in credit card programs.


New Products Launched: No specific new products launched are mentioned.

New Features Added:
  • Reporting to the Credit Bureaus Made Easy (August 1, 2024): Improved methods for accurate credit reporting.

  • Recent Release Notes (July 15, 2024, March 13, 2024): Continuous improvement in the functionality and performance of their platform.


New Partnerships:
  • ampliFI Loyalty Solutions (August 22, 2024): A partnership to integrate loyalty-enhancing programs into LoanPro's credit operations.


By enhancing the lending and credit platform with these robust, API-first suites, LoanPro continues to lead in providing configurable and scalable solutions to financial institutions, consumer lenders, business lenders, and auto lenders.

For further information and updates, you may contact LoanPro directly or access their knowledge hub.