Rapid Finance Partners with LoanPro

Today’s newsletter is about the transformative period in the lending industry.

These alliances are set to revolutionize the small business and automotive lending spaces, leveraging cutting-edge technologies to enhance efficiency, accuracy, and customer experience.

Rapid Finance and LoanPro have teamed up to enhance small business lending in the US. Their integration combines Rapid Enterprise's cloud-native digital loan origination software, Decisioneer, with LoanPro's API-first lending platform.

This collaboration aims to streamline the loan process, offering a more efficient and customized experience for both lenders and borrowers.

It focuses on increasing underwriting efficiency, reducing credit losses, and providing a seamless transition from loan origination to management.

Parallel to this are these two headlines.

Open Lending will harness CreditSnap's white-label technology platform and data analytics capabilities to cater to its customers better.

This solution will allow lenders to offer pre-qualified loan decisions in a matter of minutes. It will also assist consumers in making informed refinancing decisions and improving their financial health.

The platform will provide real-time, soft pull, pre-qualifications, and instant decisions for auto refinance.

Newgen Software, a prominent provider of low-code automation platforms, teamed up with Finastra to enhance its retail and commercial loan origination capabilities. The integration of Fusion LaserPro, Finastra's loan document solution, and Fusion DecisionPro, a lending decision solution into Newgen's platform, will offer a comprehensive, effective, and compliant solution for loan structuring and booking.

 Finastra's cutting-edge solutions will improve interest calculation, documentation and compliance, decision-making, and completion processes for loan origination within the Newgen platform.

Our Opinion:

This wave of strategic partnerships in the lending industry prompts a key question for alternative funders: "Who are you partnering with?"

Having the right partnerships in technology and finance is crucial in the age of AI. Our Secretary of State API and business verification tools can significantly enhance your operational efficiency and decision-making processes, making them a valuable ally in navigating the evolving financial sector.

Your feedback, questions, or interest in exploring a partnership with Cobalt Intelligence are welcome. Please feel free to respond to this newsletter, and let's discuss how we can work together to navigate the future of alternative finance.

Headlines You Don’t Want to Miss

Atwell Secures $200 Million Credit Facility, Paving the Path for Strategic Growth Atwell, a global provider of consulting, engineering, and construction services, has secured a $200 million senior credit facility. The lending group is led by the Bank of Montreal and also includes other large institutions such as JPMorgan Chase Bank, PNC Bank, and KeyBank National Association.

TCW Group Bolsters Alternatives Offerings with Launch of Asset-Backed Lending Unit TCW Group, a US-based asset management company, has disclosed plans to launch an asset-backed lending unit to expand its alternatives portfolio. The new venture, named Lucerna Credit, will focus on middle-market companies in the United States.

FTC Investigates Big Tech's AI Investments such as Microsoft, Amazon, and Alphabet The FTC is seeking to understand how these firms are maintaining their competitive advantages through these acquisitions. The investigation is part of a broad FTC study into the financial and corporate structures of these companies.