XpressCredit, a fintech that focuses on the small independent auto dealer market, recently selected Lokyata’s BankAnalyze solution to help support contract decisioning for XpressCredit’s network of thousands of independent dealers nationwide.

XpressCredit is designed to provide users with one point of entry from unit acquisition to customer disposition, including consumer finance and accounting.

BankAnalyze can provide borrower-permissioned access to applicants’ alternative data, such as rent payments and bank statements, and utilizes the information to inform a credit decision based on individual finance company’s own rules and workflows

Through this partnership, dealers that leverage XpressCredit’s platform will have direct access to BankAnalyze’s functionality as part of the credit application and decisioning process, enabling them to provide more financing options to more potential vehicle buyers.

“Speaking for the whole XpressCredit team, I just want to say how proud we are to be partnering with Lokyata,” XpressCredit senior vice president of marketing Keith Bardwell said in a news release. “Through this integration, the XpressCredit platform can now provide traditional and non-traditional credit scorecards that enhance our product for our customer base.”

Lokyata chief technology officer Steve Bireley said, “With rates rising and auto prices remaining high, auto lenders need tools to better manage their loan decisioning and help their customers responsibly gain access to financing.

“XpressCredit has a deep understanding of the industry and a proven history of providing its dealer network with access to the latest technology, and BankAnalyze is a perfect addition to its dealer platform,” Bireley went on to say.