| Market Capitalization (Millions $) |
370 |
| Shares
Outstanding (Millions) |
118 |
| Employees |
164 |
| Revenues (TTM) (Millions $) |
98 |
| Net Income (TTM) (Millions $) |
-5 |
| Cash Flow (TTM) (Millions $) |
-62 |
| Capital Exp. (TTM) (Millions $) |
1 |
Business Description
Open Lending Corporation is a financial technology company that specializes in providing loan analytics, risk modeling, and lending automation platforms to financial institutions. The company was founded in 2000 and is based in Austin, Texas.
Open Lending's flagship platform is Lenders Protection, which is designed to enhance the credit portfolio of financial institutions by reducing risk exposure and improving the credit decisioning process. Lenders Protection enables financial institutions to approve and fund loans for borrowers who do not meet traditional underwriting standards, while still maintaining an acceptable level of risk.
The platform consists of several modules, including:
1. Loan analytics e This module provides insight into loan performance, risk, and profitability. It helps financial institutions identify trends and areas of concern, and optimize loan pricing and underwriting guidelines.
2. Risk modeling e This module is based on machine learning and statistical modeling techniques, and is used to predict borrower behavior and potential losses. Financial institutions can use this information to make more informed lending decisions.
3. Lending automation e This module streamlines the loan origination process, reducing costs and time-to-fund. It integrates with the financial institution's existing systems and can be used for various loan types, including auto, personal, and small business loans.
Open Lending works with a wide range of financial institutions, including banks, credit unions, and other lenders. The company has over 800 customer relationships and has facilitated the funding of over 5 million loans since its founding.
In addition to Lenders Protection, Open Lending offers other products and services, including training and support, compliance services, and custom analytics. The company is committed to delivering innovative solutions that help financial institutions grow their loan portfolios, while also managing risk and complying with regulatory requirements.
Company Address: 1501 S. MoPac Expressway Austin 78746 TX
Company Phone Number: 892-0400 Stock Exchange / Ticker: NASDAQ LPRO
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