MeridianLink, Inc., a leading provider of modern software platforms for financial institutions and consumer reporting agencies, recently announced its new point-of-sale (POS) solution for MeridianLink® Mortgage as part of the MeridianLink® One platform. MeridianLink® Mortgage Access satisfies the demands of borrowers by providing them with a more frictionless digital lending and account opening experience.
The highly configurable POS solution for mortgage origination looks to aid financial institutions in slashing their application and approval times for customers. Additionally, the product helps strengthen MeridianLink’s innovative SaaS-based mortgage loan origination system by seeking to enhance the borrower’s experience and significantly increase efficiencies.
“In today’s economy, borrowers expect to be engaged in their financial experience, whether it’s checking their account balance, transferring money, or originating a mortgage,” said JP Kelly, SVP of Mortgage at MeridianLink. “Mortgage Access functions to make it easy for borrowers to buy or refinance their loans, reduce the friction in the mortgage experience, and decrease turnaround times. In doing so, these efforts will create a smoother process for consumers.”
The launch of this solution comes at a time when American consumers anticipate a greater level of support from their financial institutions. A recent study conducted by MeridianLink discovered that 31% of Americans feel less confident in their ability to afford a home compared to five years ago, and 41% of respondents believed their financial institution did not provide them with sufficient mortgage lending support.
The launch of Mortgage Access adds to MeridianLink Mortgage, the Company’s mortgage loan origination system (LOS) with a natively built product and pricing engine and automated underwriting. Some of the other features of the LOS include:
- The capability for financial institutions to customize user interfaces and automate workflows
- Managing electronic document packages
- Accessibility to hundreds of partner integrations
The Mortgage Access product completes MeridianLink’s mortgage lending platform, delivering an end-to-end digital mortgage experience.
Mortgage Access is the latest offering in a series of investments MeridianLink has made to further grow and improve its product offerings related to mortgage lending. In late 2022, MeridianLink acquired OpenClose™, an award-winning provider of residential mortgage software, to offer omnichannel mortgage solutions and leading POS capabilities that improve efficiency while reducing costs and time to close. In March 2023, both MeridianLink and OpenClose received a HousingWire Tech100 Mortgage Award in recognition of their best-in-class mortgage lending products.
To learn more about MeridianLink Mortgage Access, visit www.meridianlink.com.
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.