Algebrik AI continued to forge relationships with fellow technology firms involved with auto financing, as this week the company announced a relationship with Open Lending Corp.

The newest collaboration aims to strengthen auto loan decisioning capabilities within Algebrik’s cloud-native, AI-powered loan origination platform (LOS) — part of the Algebrik One lending suite — enabling credit unions and community lenders to confidently extend credit to near- and non-prime borrowers while minimizing risk and streamlining workflows.

“Algebrik brings a modern, purpose-built approach to lending infrastructure,” Open Lending chief product officer Josh Marcy said in a news release. “The Algebrik integration leverages best practice automation capabilities and a dynamic user experience, offering fast and accurate automatic decisions that accelerate loan originations for our mutual customers.

“Their team has delivered a clean, intuitive experience that aligns with our vision for the future of inclusive, data-driven auto lending,” Marcy continued.

Through this partnership, Algebrik’s LOS now offers built-in access to Open Lending’s Lenders Protection platform that can empower financial institutions to safely approve near- and non-prime auto loans by combining real-time risk modeling, pricing optimization, and insurance-backed loan protection.

The Lenders Protection platform can allow credit unions to:

—Evaluate near- and non-prime applicants using Open Lending’s advanced decisioning engine

—Receive real-time decisions (approved, counteroffer, or denied), including APR, terms, stipulations, and certificate numbers

—Automatically surface stipulations tied to counteroffers (such as vehicle details, income verification) within the lending workflow of Algebrik’s Loan Origination System

“We believe modern lending stacks must function as ecosystems, not toolkits,” Algebrik AI founder and CEO Pankaj Jain said. “By partnering with Open Lending, we’re deepening the intelligence of loan decisioning and giving lenders a seamless path to responsible loan growth.

“With Open Lending now embedded in Algebrik’s LOS, lenders can reach underserved borrowers while maintaining the operational efficiency and compliance they demand,” Jain continued.

For more information on how Algebrik AI has finalized more than a half dozen industry relationships since the beginning of the year, including:

Algebrik AI partners with Auto Exam to deliver protection products

3 compliance benefits from Algebrik AI partnership with Carleton

OttoMoto partners with Algebrik AI to provide dealers & lenders with beneficial insights

Algebrik AI finalizes two more partnerships to enhance cloud-native, AI-powered LOS

Algebrik AI now serves Michigan credit union & finalizes two more partnerships

For more details about the company, visit https://www.algebrik.ai.