LendingUSA’s Enhanced Instant Decision Capability uses TransUnion’s Instant Screening solution to automatically qualify new and existing customers for prescreened offers in seconds.
LendingUSA logo and TransUnion logo
SHERMAN OAKS, Calif., March 03, 2022 (GLOBE NEWSWIRE) — LendingUSA, a leading financial technology company, is introducing a new tool, FastScreen, to funeral home merchants nationwide that allows them to quickly determine if a family is susceptible to be approved for a loan to help cover the cost of funeral services for their loved ones. Using only a soft credit inquiry, one of FastScreen’s key benefits is that it can work quickly and seamlessly behind the scenes with limited information, meaning funeral directors can confidently enter the cost conversation knowing if financing will be an option through LendingUSA.
“Conversations about money are almost always uncomfortable, and no one wants to be the bearer of unnecessary bad news when a loan application is turned down, especially in the funeral industry,” says David Rueda, executive vice president of LendingUSA. . “FastScreen gives merchants insights that allow them to selectively offer financing to customers most likely to be approved.”
To complete a FastScreen, the funeral merchant simply enters the customer’s name and address, and within seconds a pre-screening decision will appear. If the client qualifies, the funeral home can share the good news with the family. If the customer does not meet the underwriting requirements, the funeral director can focus on other payment methods.
“Our new customer screening tool really provides a seamless experience for merchants and customers alike,” says Rueda. “We look forward to continuing to advance our products for the funeral industry and beyond.”
FastScreen uses TransUnion’s Instant Prescreen solution, which combines personalized customer attributes and instant decision making to enable lenders to deliver a firm credit offer to the right consumer.
“This partnership is an example of how our solutions can enable lenders to address very specific use cases across a variety of industries,” said Liz Pagel, senior vice president and head of lending business at consumption at TransUnion. “By integrating credit data with instant decision-making, eligible consumers can benefit from a streamlined application process and are presented with relevant finance offers in real time.”
FastScreen is available to all funeral home merchants nationwide through the LendingUSA portal. To learn more about this tool, Click here.
LendingUSA is an award-winning point-of-sale fintech company that offers merchants in various industries a seamless financing solution with access to lending decisions in seconds, promotional financing terms, and low monthly payment options for its customers. Founded in 2015, LendingUSA has enrolled more than 10,000 merchants nationwide and processed nearly $10 billion in loan applications from borrowers.
LendingUSA is committed to creating the best lending experience available through its exclusive point-of-sale financing solution. The company boasts a consumer rating of 4.8 out of five stars on BirdEye. All loans are made through its lending partners.
About TransUnion (NYSE: TRU)
TransUnion is a global information and knowledge company that enables confidence in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call it Information for Good®.
A leading presence in more than 30 countries on five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
Pete Danielson, Marketing Director
LendingUSA™ introduces FastScreen™ client screening tool for the funeral home industry in partnership with TransUnion.
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