Abrigo Introduces Consumer Lending and Account Opening Solutions

The scalable, customer-centric platform enables financial institutions to use a single system to support multiple loan types, including business and personal loans. Commercial real estate (CRE), commercial, and Small Business Administration (SBA) loans are among the loan types supported. Credit

Fremont, CA: Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for financial institutions, has declared the launch of its consumer lending platform. Abrigo Consumer Lending is a fully digital end-to-end solution that automates the loan process from start to finish.

Abrigo's consumer loan origination software allows financial institutions to gain significant efficiencies by making quick, creditworthy decisions and removing manual data entry.

The scalable, customer-centric platform enables financial institutions to use a single system to support multiple loan types, including business and personal loans. Commercial real estate (CRE), commercial, and Small Business Administration (SBA) loans are among the loan types supported. Credit card loans, automobile loans, as well as home equity lines of credit, or HELOCs, are all types of personal loans that are accepted.

Small business lenders will be particularly interested in the new technology. Abrigo's platform can help small business owners by allowing them to quickly apply for a loan via the dynamic online application and open an account at any time and from any location.

Creditworthy borrowers receive approvals via automated decisions, providing financial institutions with a competitive advantage and fostering long-term relationships between lenders as well as small business owners.

Abrigo's goal is to provide financial institutions with the digital tools they need to help their communities. Abrigo was proud to put this goal into action throughout the pandemic, collaborating with over 500 financial institutions to simplify the Paycheck Protection Program loan process. As part of this mission, and in response to changing customer expectations and behaviors, Abrigo is assisting financial institutions in expanding their digital capabilities with the launch of its Consumer Account Opening solution in collaboration with ProcessMaker. Customers and members of financial institutions can open accounts online at any time and from any location using the automated account opening solution. The solution integrates seamlessly with the consumer loan platform, allowing financial institutions to rapidly onboard customers and members to a transformed digital experience.