AUSTIN, Texas, Oct. 12, 2018 /PRNewswire-PRWeb/ -- Open Lending, LLC is pleased to announce it has expanded its longtime relationship with Integrated Lending Technologies, LLC (ILT) through ILT's enhanced Allegro Lending Suite. Based in Salt Lake City, ILT was the very first Loan Origination System (LOS) partner to be added fifteen years ago, to Open Lending's now vast suite of LOS partners.
The Allegro™ Lending Suite represents ILT's next generation of powerful loan origination software, enabling lenders to manage input, process data, respond to customer inquiries and meet compliance requirements more efficiently than ever. Three independent modules, Dealer, Branch and Provider reside in Allegro's Loan Origination Platform.
ILT and its Allegro™ Lending Suite have made significant automation updates on their system which will handle Open Lending's application flow very efficiently for lender clients. With this partnership, Open Lending will be able to offer an improved and more comprehensive experience for its clients.
"We value this growing partnership and look forward to the continued mutually beneficial outcomes for both Open Lending and ILT. Further, the opportunity to enable our lender clients to say YES to more automotive loans means a great deal to us," stated John Flynn, Open Lending's Co-Founder, President, and CEO.
Allegro™ replaces ILT's original DILLS™ and PILS® systems and includes major automation enhancements to the older systems. The company has improved its product and service capabilities to better serve its clients with increased automation and expanded features.
Open Lending and ILT have begun a strategic marketing campaign to co-promote the enhanced Allegro™ Lending Suite to support growth for their mutual client bases in the coming months and years.
Will McGregor, ILT's President and CEO said, "We're very pleased to be able to continue our relationship with Open Lending with this greatly improved integration of our two systems. Our lender clients are going to be very pleased with this significant upgrade and with the expanded lending opportunities it will enable."
ABOUT OPEN LENDING, LLC
Founded in 2000, Open Lending, LLC works exclusively with automotive lenders by providing loan analytics, risk-based pricing, risk modeling and automated decision technology. Based in Austin, Texas, the company services over 400 financial institutions nationwide. Through its proprietary technology, the Lenders Protection Program, financial institutions leverage powerful tools and customized analytics to underwrite direct and/or indirect loan approval decisions in seconds. Lenders are empowered to increase near and non-prime automotive loan volumes and yields with the protection of "A" rated insurance carriers, preventing additional risk to their loan portfolio. Lenders Protection, LLC is a wholly owned subsidiary of Open Lending, LLC.
To learn more about Open Lending, visit http://www.openlending.com.
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ABOUT INTEGRATED LENDING TECHNOLOGIES, LLC
Integrated Lending Technologies (ILT) has been providing innovative technology solutions for the lending industry since 2001 when it released the first version of DILLS™. ILT's latest release is the Allegro™ Lending Suite, a cloud-based loan origination system comprised of three modules, one for indirect (Dealer), another for direct (Branch) and a third for lifestyle lending (Provider). This new ILT system includes an extraordinarily versatile automated decisioning system, regulatory compliance tools, limitless reporting capability and integration with any core management system. And, like its predecessors, Allegro™ includes options to make it the ultimate management tool for CUSOs and other lending managers.
To learn more about Integrated Lending Technologies, visit http://www.allegroloan.com.
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SOURCE Open Lending, LLC