The announcement highlights a strategic minority equity investment by LoanPro, a market-leading modern lending platform, in TrueNorth, a prominent global financial technology services company. This investment signifies a closer partnership between the two organizations and is aimed at driving innovation and delivering added value to their customers in the financial services industry.
Here are the key points from the announcement:
- Investment in TrueNorth: LoanPro has made a minority equity investment in TrueNorth, showcasing its commitment to enhancing its capabilities and services in the financial sector.
- Addressing Industry Trends: The financial industry is witnessing a trend of increased investment in innovation. According to a survey by The Financial Brand, 75% of financial institutions plan to boost their innovation spending. LoanPro’s investment in TrueNorth is a response to this industrywide need for adaptable solutions.
- Innovation Acceleration: By collaborating with TrueNorth, LoanPro aims to accelerate innovation in financial services. This partnership will enable them to launch new products and services that provide groundbreaking solutions for their customers.
- LoanPro’s Mission: LoanPro’s CEO, Rhett Roberts, emphasized the company’s commitment to customer delight and driving innovation in the financial services sector through their modern lending platform.
- TrueNorth’s Expertise: TrueNorth is known for its expertise in developing successful financial services solutions, with a history of pioneering digital banking solutions and executing numerous digital transformations. Their involvement in the partnership is expected to contribute to transformative achievements in the financial services sector.
- Shared Vision: Alex Gonikman, CEO of TrueNorth, expressed enthusiasm about strengthening the partnership with LoanPro and working towards a shared vision of growth and innovation. The partnership aims to enrich the experiences of both companies’ customers and advance LoanPro’s existing customer base.
- About LoanPro: LoanPro is described as the market-leading modern lending platform, enabling lenders to innovate quickly, increase loan volume, and optimize operational efficiency. Over 600 lenders use LoanPro to enhance their borrower, agent, and back-office experiences. Their composable architecture allows lenders to enhance various aspects of their lending operations.
- About TrueNorth: TrueNorth is one of the largest and most successful financial technology services companies globally. They have a track record of building fintech unicorns like Upgrade, LendingClub, and Dianrong from scratch. TrueNorth specializes in digital banking solutions, having worked on numerous original enterprises, digital transformations, and product revamps. Their client-focused approach involves senior engineers who apply the latest technologies to develop cutting-edge digital solutions for the financial services industry.
This partnership between LoanPro and TrueNorth aims to leverage their combined expertise to provide innovative solutions to the evolving needs of the financial services industry.