CALGARY, Alberta, June 26, 2018 /CNW/ -- LendingArch, Canada's fastest growing rate comparison platform, today announced the completion and launch of its LendingArch CARE™ Engine, and corresponding entry into multiple additional market sectors, expanding its offerings to its customer base.
The LendingArch CARE™ Engine will allow LendingArch to enter highly sought-after financial sectors, from small business loans to mortgage loans, car loans, insurance, and credit card offers, providing real-time rates and best-in-class offers from multiple lenders and matching them with targeted Canadians based on their individual credit profile and more relevant data points.
This move takes LendingArch out of the direct lending business, and into a much larger ecosystem of Financial Services Nationwide, sourcing and referring its user base to the best lender that fits their needs within the sea of lenders available in Canada.
LendingArch's benefit to its lending partners and banks includes the ability to provide pre-qualified customers who have a high probability to be approved for a loan.
This increases the efficiency of marketing spend for all LendingArch's lending partners and institutional partners.
LendingArch will be able to provide customers with the best auto / car loans, credit cards, mortgage loans, and other offers efficiently through its in-house offer matching software.
Meanwhile, customers have a highly matched loan offer from a lending partner that gives them a high probability of approval, saving them time and money.
This concept is now being applied by LendingArch to both the car loan sector and credit card sectors.
This saves time, money and effort for all visitors to LendingArch, taking the guesswork out of the lending application process for its consumer base.
"We are excited to announce the completion of a key piece of technology within our suite, which will allow us to grow exponentially, fully dedicate ourselves to our chosen corporate direction, and provide best-in-class lender recommendations to our user base."
- Paul Hadzoglou, President of LendingArch.
"We have invested heavily into our brand, new business direction, intellectual capital, digital footprint and market strength, and the results are coming through fast and hard. We will remain free to use for all of our borrowers, and have now increased our reach, breadth and ability to provide full spectrum financial rate comparison services across a number of verticals to our customers and users, a major benefit to our ever-expanding Canadian user base," says Paul.
Lenders are recommended to the LendingArch users, and it's up to the user to proceed with whichever lender LendingArch has recommended to them, with no obligation to apply for a loan, providing free quotes to all LendingArch customers.
LendingArch's platform approach has led to an immediate increase in its already expansive user base, applications received from qualified borrowers, application volume, an increase in lending partners and technology integration requests.
With over $42,000,000 worth of loan applications received in the month of May 2018 alone, LendingArch is trending for well over half a billion in loan volume applications this year.
"Our process is secure, fast, and we never resell our protected data or information," says Paul.
Since Q1 of 2018, LendingArch has signed deals with over 15 major lenders and institutions and has seen the number of borrowers visiting the LendingArch platform, more than double in volume over the past 90 days.
LendingArch has also recently signed a deal with a Major Canadian Fintech Brand, to provide rate comparison services to its own expansive Canadian user base, details of the deal will be announced in Q4 of this year, further expanding LendingArch's reach into the market.
"LendingArch provides a major benefit to its lending partners and institutional partners. LendingArch provides the ability of providing high intent, pre-qualified customers who have a high probability to be approved for a loan, directly to our lenders," says Paul. "This increases the efficiency of marketing spend for all LendingArch's lending partners and institutional partners.
"Meanwhile, customers who are looking for a loan, automatically have a highly matched loan offer from a lending partner that gives them a high probability of approval, saving them time and money."
LendingArch takes on the work of sourcing, and appealing to consumers within different verticals, offering them real solutions to their lending or debt settlement needs.
Car loans, credit cards, small business loans and credit repair is also offered to consumers through the platform, with some of the nation's largest lenders ready to immediately help all LendingArch's users with their requests and loan applications.
LendingArch is free to use for all visitors, and any Canadian can use the platform to source a loan.
"We've already seen the positive impact our lending solutions have made to Canadians in the personal loan space, as we are on track to receiving well over Half a Billion Dollars in personal loan application volume this year. We feel that bringing a more tech and data-driven approach to the online lending sector within different verticals is long overdue for borrowers," says Paul.
"The LendingArch technology can point you to the absolute best lender for your specific needs. Saving you time in endless research and headaches when it comes to filling out form after form not ever knowing if you are even pre-approved and saving multiple hits to your credit bureau.
"That is something people don't always realize, it is helpful to apply for loans with different lenders if you need to, however every time you do so, your credit is getting 'hit' as lenders need to check your credit to determine which interest rate to offer you.
"If you continue to apply to lenders individually, your credit score will naturally decline, which will lead to you receiving worse and worse offers from lenders.
"Using our CARE™ engine, we determine which of Canada's lenders have the highest probability to approve your loan request, saving you time, money, and naturally maintaining your credit score as much as possible."
LendingArch helps you find and compare rates for everything from personal loans, the best credit card offers, home insurance to auto loans and more.
We bring you expert advice and the best tools, so you can make the smartest financial decisions.
Borrowers apply for loans and utilize the proceeds for a variety of reasons.
From personal expenses, debt consolidation, home improvement costs, help with personal growth, wedding loans, car loans, equipment finance loans and loans for their business; LendingArch continues to grow, and is dedicated to bringing financial advancement to consumers and businesses who deserve to grow and flourish, at their rate on their terms.