CreditSnap, a Lending FinTech, Emerges from Stealth Mode After Reaching 100K Applications Milestone

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CreditSnap Re-Imagines Consumer Lending Experience. Focused on High Performance Digital Experience, Soft Inquiry based PreQualification and LOS Automation, CreditSnap Consistently Generates +30% More Loans

SAN ANTONIO - eTradeWire -- CreditSnap reached 100,000 loan applications milestone today, and confidently emerges from stealth mode with a mature consumer lending platform. PreQualification capability and digital loan experience are at the core of the platform, but an optional Full LOS is also available – making it a truly turnkey lending platform.

CreditSnap enters the market at a crucial time when existing legacy solutions come with either poor digital experience or no soft inquiry – often both. By solving for both borrower experience as well as LOS automation, CreditSnap is transforming the consumer lending experience. Furthermore, Intuitive 'Pay as you Use' pricing and no up-front capital costs make CreditSnap platform very affordable to banks and credit unions of all sizes.

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Personal Loans saw explosive growth in recent past. FinTech lenders led from the front , with "No Credit Impact To Check Your Rates" messaging using soft inquiry. Several top 50 banks followed suit, enabling this technology with their army of engineers. That leaves the remaining 5,750 FDIC insured banks and 5,733 NCUA insured Credit Unions that have been playing technology catch up for a long time. CreditSnap's mission is to democratize access to this sophisticated consumer lending technology.

CreditSnap is co-founded by experienced industry executives from USAA, HSBC, AAA Auto Group and other financial services companies.

"We're seeing increasing demand for our solution, which solves the pain points for both borrowers and lenders. Banks and Credit Unions have long been frustrated with current solutions in the market, and they think CreditSnap is too good to be true. Once they see what we can do, it is always a fun conversation from there on" explained Deepak Polamarasetty, CoFounder of CreditSnap Inc. "After all, who would say NO to 30% more loans, 40% lower costs and being able to tell their borrowers that there is no credit impact to check the rates?" added Sreeram Jadapolu, also a CoFounder.

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About CreditSnap
CreditSnap is a FinTech consumer lending SaaS platform that helps small and large banks and credit unions deliver modern consumer loan application experience, prequalification and loan offer customization. Included back office application makes accepting applications over phone and at branch a breeze – allowing lenders to become omni-channel. The best part is the promise to the borrowers – No Credit Impact To Check Your Rates – that can be delivered in all channels. Through its early adopters, CrediSnap has already processed more than 100,000 consumer loan applications and generated 70,000+ loan offers.

For more information, visit www.CreditSnap.com or email at contact@creditsnap.com

Source: CreditSnap Inc.
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