AUSTIN, TEXAS – August 15, 2018 – Open Lending, LLC, is honored to announce Ryan Collins, its Chief Technology Officer, received the Technology Advanced Algorithmic Decisioning Award at the Growth Factors Technology Summit in Montreal Canada. The Summit is put on by Bregal Sagemount, a New-York based private capital firm and equity partner of Open Lending.
The Technology Advanced Algorithmic Decisioning Award recognizes outstanding leadership in technology innovation and is awarded annually. Open Lending is leading the fintech industry in Artificial Intelligence and automation with its combination of data analytics and automated decision processing for automotive borrowers and lenders.
“We have created an integrated platform that provides financial institutions with affordable, effective, and a well-timed system for evaluating portfolio risk and insuring auto loans,” said Ryan Collins.
Open Lending’s automated platform allows lenders to better evaluate near and non-prime auto loans through analytics, risk-based pricing, risk modeling and default insurance, thereby ensuring profitable auto loan portfolios for financial institutions.
“Technology is revolutionizing the way credit and capital is made available to consumers,” said Mr. Greenberg, Principal at Bregal Sagemount. “We believe that financial institutions have an incredible opportunity to increase their loan volumes and customer base by utilizing technology platforms like Open Lending and their Lenders Protection product,” Greenberg added.
For Ryan Collins full biography: http://bit.ly/2KIgMz4
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 365 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.
ABOUT BREGAL SAGEMOUNT
Bregal Sagemount is a growth-focused private capital firm with $650 million in committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $15 million to $150 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology and specialty finance.