LendKey, a lending-as-a-service solution for banks and credit unions, announced on Thursday it surpassed $3 billion in loan originations for its lending partners. The lender reported that nearly 300 lenders have utilized the company’s turnkey digital lending solution to expand product offerings across multiple asset classes to target prime borrowers.
“Hundreds of lenders and asset managers partner with LendKey to bring borrowers a powerful, white-labeled lending platform that has redefined Lending-as-a-Service. The solution gives financial institutions of all sizes the ability to attract new business, grow relationships, manage liquidity, and mitigate risk.”
Speaking about the milestone, Vince Passione, CEO and Founder of LendKey, stated:
“We are proud of this milestone and our continued rapid growth. We will continue to enable hundreds of traditional financial institutions to deploy capital in lending products offering attractive returns, asset diversification, and relevant offerings for the largest consumer demographic, millennials.”
Luvleen Sidhu, Co-founder, President, and Chief Strategy Officer at BankMobile, added:
“LendKey’s digital lending solution enables us to expand our products quickly and cost-effectively using our brand and underwriting standards.”