Following this launch, customers and clients will be enabled to use the MeridianLink Marketplace to collaborate and partner with multiple providers, in order to deliver new services and solutions that improve the digital lending and account opening experience for clients.
The Marketplace currently has several pre-integrated services centered around seven primary use cases: collections, digital applications, funding and closing, origination solutions, processing, system integration, and underwriting. In addition, the newly released tool offers products from multiple firms around the world, with the aim to further expand its capabilities.
In order to be listed on Marketplace, companies need to go through a rigorous vetting and onboarding procedure that focuses on ensuring their products are effective and secure for MeridianLink’s clients. After the onboarding process is done, firms can attain one of four partnership tiers: standard, elite, premier, and platinum. Each of the tiers includes multiple benefits, such as co-branded marketing materials, early access to MeridianLink’s events, or press outreach.
In addition, Marketplace is set to offer other financial service providers and fintech firms a new manner in which they can develop and grow their reach through partnerships with MeridianLink.
US-based MeridianLink delivers digital lending and account opening services to financial institutions, as well as data verification products to client reporting agencies. The firm had several collaborations and tool releases in the last couple of months, covering different geographic areas around the world.
At the beginning of October 2023, the company announced the launch of its MeridianLink Access product, a highly configurable POS for digital account opening and loan origination. The service was developed to provide an improved and modern digital lending experience that could be leveraged with both MeridianLink Consumer and MeridianLink Opening solutions. The platform also allowed financial institutions to modify workflows in a secure and easy manner, as well as to customise the loan and account opening procedure to meet their needs.
Some of the features included were the secure editing tools, a growing collection of partner integrations, native integrations with MeridianLink Consumer and MeridianLink Opening, as well as support for personalised digital lending experiences.
Earlier in September 2023, Sandbox Banking announced its partnership with MeridianLink in order to provide the latter’s clients with optimised cloud-based integration between several platforms. Throughout this collaboration, companies aimed to deliver financial institutions that were part of MeridianLink’s customer portfolio with efficient and secure cloud-based integration between multiple platforms across the life of the loan. This was set to enable them to improve their overall borrower experience, streamline lending operations, as well as scale businesses.
As a system integrator, SandBox focused on providing its solutions and products in order to enable MeridianLink users to connect in an easy and safe manner, as well as to the customer relationship management (CRM) and accounting systems.
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