Automatic, a fintech company that connects used independent car dealerships with lenders, has partnered with MeridianLink, a provider of software solutions for financial institutions and consumer reporting agencies, to enhance lender-dealership connectivity.
The collaboration integrates Automatic’s dealership network platform with MeridianLink’s loan decisioning technology, offering financial institutions tools to support automotive lending operations.
Automatic’s platform facilitates connections between lenders and a network of independent dealerships, enabling customised loan solutions and optimising aggregation processes.
Through the partnership, MeridianLink’s Advanced Decisioning technology is embedded within Automatic’s platform. The integration provides lenders with real-time loan analysis capabilities, streamlined risk management processes, and lending decisions tailored to borrower profiles.
Automatic CEO Eric Burney said: “Partnering with MeridianLink marks a significant milestone for Automatic as we continue to innovate within the automotive financing landscape.
“Our mission to foster an ‘Open Marketplace’ is further realised through this collaboration, empowering lenders with tools to access new clients in a safe way.”
Financial institutions already using MeridianLink’s systems will gain access to Automatic’s platform, creating a unified system for managing automotive loans.
The integration is expected to simplify operations in the used car financing market and expand opportunities for participating lenders.
MeridianLink offers digital lending, account opening, background screening, and data verification services through its unified data platform, MeridianLink One.
By leveraging shared intelligence from this platform, MeridianLink enables institutions of various sizes to identify opportunities for growth, scale their operations effectively, and maintain compliance.
These solutions are designed to enhance operational efficiency for staff while improving the overall experience for consumers.
