SALT LAKE CITY, May 27, 2021 /PRNewswire/ -- Medallion Bank
(Nasdaq: MBNKP), (MBNKP or "the Bank"), an FDIC-insured bank
providing consumer loans for the purchase of recreational vehicles,
boats, and home improvements, along with loan origination services
to fintech partners, has announced its partnership with LoanPro, a
tech-forward loan servicing software company. Medallion Bank now
combines its recreation and home improvement consumer finance loan
origination capability with LoanPro's proven lending platform,
which empowers lenders through workflow automation and improved
data visibility.
Donald Poulton, President &
Chief Executive Officer of Medallion Bank said, "As we expand the
Bank's digital lending capabilities, LoanPro demonstrated a clear
advantage to help us drive speed of service and efficiency with our
loan servicing. This will allow us to continue to grow the
number of loans we service and maintain the strong customer service
we are known for. In addition, our growing fintech Strategic
Partnership Program will benefit from the relationship with LoanPro
as our partners may also benefit from LoanPro's cloud-based loan
servicing platform."
Medallion Bank is committed to offering competitive indirect
consumer finance programs with long-term viability, superior
service levels, and the ideal balance of high-tech and high-touch.
The Bank's tools and platform help its dealers, contractors, and
fintech partners to effectively grow their businesses.
Rhett Roberts, Chief Executive
Officer and Co-Founder of LoanPro stated, "We are excited to be
working with Medallion Bank to help them with their mission of
putting the needs of their clients first through loan workflow
automation, improved data visibility, and a customized UI/client
experience. We are grateful for partners like Medallion Bank who
have joined us in our vision to leverage the latest loan tech to
serve their clients better."
LoanPro seeks to simplify the complex by providing sight and
clarity into the world of lending. LoanPro's highly customizable
loan servicing software is built on its own RESTful API and
preferred by over 600 lenders across the
United States and Canada.
About Medallion Bank
Medallion Bank (Nasdaq: MBNKP) specializes in providing consumer
loans for the purchase of recreational vehicles, boats and home
improvements, and offering loan origination services to fintech
partners. The Bank works directly with thousands of dealers,
contractors and financial service providers, serving their
customers throughout the United
States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank
headquartered in Salt Lake City,
and is a wholly owned subsidiary of Medallion Financial Corp.
(Nasdaq: MFIN). For more information, visit
www.medallionbank.com.
About LoanPro
LoanPro is a SaaS based loan servicing software which empowers
tech-forward lenders through automation and data visibility.
LoanPro offers a full-featured, API-based, mid-market and
enterprise lending solution in the US/Canadian marketplace. LoanPro
is hosted on Amazon Web Services (AWS) "the cloud" and is designed
to streamline both loan servicing and loan collections workflows.
Lenders enjoy increased transparency, control, flexibility,
real-time database access, calculation accuracy, and scalability,
all on a PCI, SOC I, & SOC II certified platform. For
more information on LoanPro, visit LoanPro.io or call (800)
559-4776.
Forward-Looking Statements
Please note that
this press release contains forward-looking statements that involve
risks and uncertainties relating to business performance,
initiatives, priorities, opportunities and objectives and our
growth prospects. These statements are often, but not always, made
through the use of words or phrases such as "will," "seek,"
"committed" or the negative version of those words or other
comparable words or phrases of a future or forward-looking nature.
These statements relate to our strategies, priorities, objectives,
and growth opportunities and prospects. These statements are not
historical facts or statements of current conditions but instead
represent only Medallion Bank's beliefs regarding future events,
many of which, by their nature, are inherently uncertain and
outside of Medallion Bank's control. Medallion Bank's actual
results may differ significantly from the results discussed in such
forward-looking statements. For a description of certain risks
to which Medallion Bank is or may be subject, please refer to the
factors discussed under the captions "Cautionary Note Regarding
Forward-Looking Statements" and "Risk Factors" included in
Medallion Bank's Form 10-K for the year ended December 31, 2020 filed with the FDIC. Medallion
Bank's Form 10-K, Form 10-Qs and other FDIC filings are available
in the Investor Relations section of Medallion Bank's
website.
Medallion Bank Contact:
Investor Relations
212-328-2168
InvestorRelations@medallion.com
Lloyd Roberts, CRO
(800) 559-4776 ext: 707
lloyd.roberts@loanpro.io
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SOURCE LoanPro