Open Lending Corporation announced it has entered into an agreement with the captive finance company of a premier automaker, marking its third such partnership. This new collaboration will enable the OEM partner to utilize Open Lending’s Lenders Protection™ program.
The agreement is designed to help the OEM partner expand its reach to near- and non-prime consumers, offering the benefits of Open Lending's automated decisioning and default insurance coverage. A full rollout of the program is targeted to begin in early 2025.
CEO Chuck Jehl stated that this new relationship further validates Open Lending’s value proposition to auto lenders. The partnership aims to help lenders grow safely, strengthen dealer relationships, and ensure OEMs retain their customers within the brand.
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