MeridianLink Point-Of-Sale Offerings Show Strong Market Momentum

By: MeridianLink, Inc. via Business Wire

March 27, 2024 at 09:05 AM EDT

The rapid adoption of MeridianLink^® Access highlights the best-in-class consumer experience available for banks and credit unions across the country

MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced that more than 50 customers have selected MeridianLink^® Access or MeridianLink^® Mortgage Access point-of-sale products since their introduction last year. This achievement by MeridianLink’s Go-to-Market and product teams highlights the demand for such innovative capabilities in the market.

MeridianLink Access and Mortgage Access provide highly configurable point-of-sale solutions as part of the MeridianLink^® One ecosystem. The Access offerings can be used with MeridianLink^® Consumer, MeridianLink^® Mortgage, and MeridianLink^® Opening. The platform allows financial institutions to easily modify workflows and configure the loan and account opening process to meet their unique needs. Driven by best practices and industry expertise, Access empowers financial institutions to provide a streamlined experience that helps to maximize engagement, conform with internal workflows, and optimize the digital experience.

Alabama Credit Union (ACU), a top-rated local credit union with 34 locations across Alabama and one branch in Pensacola, Florida, is already experiencing strong results within a few months of going live on Access. The Credit Union initiated an Access pilot at the beginning of 2024 after an internal analysis determined their completed application rates were below industry benchmarks. Since launching the pilot, ACU has seen a significant jump in deposit applications, with a 17% increase recorded in just the first month.

The benefits of Access for Alabama Credit Union have been substantial. “Drag-and-drop” configuration capabilities have made it easy for employees to design new application processes that are optimized for consumer experience, and the new workflow is much more efficient, freeing up staff to provide more support directly to members. For consumers, the application completion time has been reduced, and the experience has also become more personalized for individual products and consumer situations.

“Since the implementation of MeridianLink Access, we have improved efficiencies, increased online application submissions, and secured more loans,” said Dustin Kizer, Digital Services Director at Alabama Credit Union. “We expect the process improvements we’re achieving will help lead to an increase in application submissions and loan conversions, enabling us to continue growing and providing this best-in-class experience to more people. This is a win for us and our members!”

“The story of Alabama Credit Union is a strong testament to how MeridianLink Access is already helping financial institutions streamline internal processes and significantly improve the member experience,” said Devesh Khare, Chief Product Officer at MeridianLink. “We are excited to continue to expand its adoption as an important part of the MeridianLink One connected ecosystem.”

For more information about MeridianLink Access, visit www.meridianlink.com.

ABOUT MERIDIANLINK

MeridianLink^® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification solutions leverage shared intelligence from a unified data platform, MeridianLink^® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.

For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.