LoanHero, a retail Fintech and loan origination platform for automated lending to consumers at the point of need, has announced a strategic partnership with Quorum Federal Credit Union.
Quorum is a full-service financial institution currently serving over 70,000 members across all 50 states. The partnership with LoanHero supports Quorum’s strategy to expand its lending footprint in the healthcare sector. Quoram seeks to provide creditworthy consumers with excellent options where and when they need it most.
The two companies explain that Quorum and LoanHero will start offering healthcare providers and their patients—through LoanHero’s technology and support—a substantial number of options that have not been available in a single platform. LoanHero’s automated loan prequalification application and approval process are said to be quick and easy for customers, and intuitive for service providers. In brief, consumers get a loan for a significant medical procedure within seconds.
“For over 80 years, we have shown an unwavering commitment to our members. This partnership further demonstrates our dedication to creating a great member experience, and making a positive difference in people’s lives,” said Bruno Sementilli, President and CEO of Quorum.“LoanHero’s technology, capabilities, and expertiseallow us to introduce consumers to our excellent financial products and service, while helping us reach our growth potential.”
Zalman Vitenson, CEO of LoanHero, said that Credit Unions have long embraced lending technology. Quorum understands that indirect lending in retail finance is a huge opportunity.
“Financial institutions realize they can provide a superior experience by partnering with fintech platforms like LoanHero, that have invested in compliance and data capabilities. We are proud to partner with Quorum to serve the many needs of today’s healthcare consumer,” said Zalman.
LoanHero provides financing for a variety of personal needs. Their financing platform allows merchants to extend instant financing at the point of sale.
