ASAPP OXP
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Risk-Based Lending Programs

Give your members the rate they deserve

Risk-Based Lending Programs

 

Is your FI tired of offering the same rates for everyone, but having to decline a large number of applicants based on a complete credit assessment? What if you could offer rates that were based on the credit worthiness of the applicant in a simple online application? Guess what – you can.

 

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Challenge

Most online lenders only offer a single rate for each of their lending products and require members to come in-branch for a credit history check, often leading to a large number of declines. So, how do we streamline the online application process, increase approvals and give members the rates they deserve?

 


Solution

ASAPP created a better lending application experience with a dynamic lending decisioning engine that sets rates in real-time based on individual’s credit worthiness. The result? A more accessible, frictionless lending journey offering an optimal rate, both for the member and the credit union.

We applied this approach to Northern Credit Union’s first “Rates as Low as” mortgage campaign. Our strategy utilized ASAPP’s lending decisioning engine to allow us to go to market with dynamic pricing that auto-adjusted based on information provided on the member application.  

 


Result

Our “Rates as Low as” campaign was recognized by industry peer groups as the first of its kind in the Canadian Credit Union system powering both online and in-branch application activity. Take a look at the key results:

  • Increased number of online mortgage applications
  • Fewer abandoned online applications
  • Increased satisfaction by both online and in-branch applicants
  • Increased satisfaction by staff using the tool with members, largely citing the ability to provide a faster lending decision

 


Latest News


Sudbury Credit Union becomes latest Canadian credit union to license ASAPP OXP™ | Omnichannel Experience Platform
Sudbury Credit Union becomes latest Canadian credit union to license ASAPP OXP™
ASAPP OXP™ is excited to announce Sudbury Credit Union has signed an agreement which will enable Sudbury Credit Union to leverage Canada’s most complete omnichannel experience platform, across its branch network and through digital and mobile channels for member self-serve and member-assisted origination transactions.
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ASAPP OXP™ launches version 14.0, simultaneously upgrading all Client-Partners
ASAPP OXP™ launches version 14.0, simultaneously upgrading all Client-Partners
This past weekend, ASAPP OXP™ launched ASAPP version 14.0 across all Client-Partners. This marks the company’s first simultaneous launch to bring all Client-Partners to the most recent version.
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