Snap Finance Selects LoanPro's Lending Core for Loan Servicing Needs

News provided by

Mar 01, 2022, 06:55 ET

FARMINGTON, Utah, March 1, 2022 /PRNewswire/ -- LoanPro, a leader in loan servicing software, announced its partnership with Snap Finance, provider of fast, flexible, pay-over-time digital financing options. Snap will implement LoanPro's loan management software to continue providing a wider array of payment options to retailers across the U.S. LoanPro's API-based approach will provide Snap Finance with a single source of truth for their servicing processes and allow their leases and loans to live in one system. LoanPro will also provide an increase in data visibility for Snap Finance and their partners, all while preserving and expanding upon their existing integrations.

"Snap Finance is enjoying unprecedented growth, as more consumers seek innovative solutions to help them purchase the things they want and need for their families," said Snap Finance Chief Marketing Officer Colin McCracken. "We're partnering with LoanPro to support our technical loan servicing needs as we scale our pay-over-time financing model to better meet the needs of our retail partners and their customers."

Snap's machine learning-based decisioning engine takes a more holistic view of a retail customer's credit history and provides flexible financing options for consumers who are establishing or rebuilding their credit scores. Snap's platform gives retailers more ways to close sales with their customers, enabling them to build loyalty and increase the number of repeat buyers.

Lloyd Roberts, Chief Revenue Officer and Co-Founder of LoanPro, stated, "LoanPro is pleased to partner with Snap Finance to help achieve their technical loan servicing needs. This partnership helps Snap improve automation and visibility while decreasing human error and overhead expenses to better serve their customers. Helping lenders and lessors achieve this goal is LoanPro's top priority. We are honored and grateful for the opportunity to work with and serve Snap Finance."

LoanPro seeks to simplify the complex by providing sight and clarity in the world of lending. LoanPro's lending core provides its users with the flexibility to bolt on their preferred attachments while providing its users with a single source of truth. LoanPro's highly customizable loan servicing software is built on its own RESTful API and preferred by more than 800 lenders across the United States and Canada.

About Snap Finance

Since 2012, Snap has been on a mission to bring flexible, pay-over-time financing options to all consumers. Snap's world-class team of enthusiastic, friendly problem-solvers has harnessed the power of data to empower customers of all credit types and to help retailers close more sales. Its proprietary technology brings together machine learning, non-traditional risk variables, and years of data to create an industry-leading decisioning platform. Snap enables retailers to bring modern payment options to consumers who are still growing or rebuilding their credit profiles. Snap's payment solutions are accepted at more than 300,000 merchants. For more information, visit snapfinance.com.

About LoanPro

LoanPro is a SaaS-based core loan servicing software that empowers tech-forward lenders through automation and data visibility. LoanPro offers a full-featured, API-based, mid-market, and enterprise lending solution in the US/Canadian marketplace. LoanPro is hosted on Amazon Web Services (AWS) "the cloud" and is designed to streamline both loan servicing and loan collections workflows. Lenders enjoy increased transparency, control, flexibility, real-time database access, calculation accuracy, and scalability, all on a PCI, SOC I, & SOC II certified platform. For more information on LoanPro, visit LoanPro.io or call (800) 559-4776.

Contact:
Lloyd Roberts, CRO
(800) 559-4776 ext: 707
[email protected]

SOURCE LoanPro