Nothing re-keyed
Data entered once flows from the member's application to the underwriter's queue, the decision engine, the documents and your core booking.
Direct auto lending for credit unions
Direct auto lending, connected from application to funded loan
Algebrik connects the member's application, the vehicle, your policy and your core in one workflow, so nothing is re-keyed and approved loans reach funding with fewer handoffs.
Fig 1One connected record
One sweep reads the vehicle into the same file4 of 4 checks on the record
Illustrative: a sample vehicle, no real data.
Approved should mean funded
Approved loans stall when the vehicle, the protection, the documents and the booking live in different tools. Connect them, and the file keeps moving.
What changes for your credit union
Approved should mean funded
Approved loans stall when the vehicle, the protection, the documents and the booking live in different tools. Connect them, and the file keeps moving.
The vehicle is part of the file
Value (JD Power, KBB) and vehicle history (CARFAX, salvage title) come into the same loan file, so collateral checks use the same record as the decision.
More approvals, in your policy
Your team sets rules, pricing and counter-offers. Declines can route automatically to Open Lending's Lenders Protection for a second look, inside the same flow.
Protection at the point of approval
GAP and payment protection are offered inside the workflow, when the member is approved, with no switching systems.
How it works
From the member's first tap to a booked loan
One flow, with your policy built in at every step.
1
Member applies
On the web, mobile or with a loan officer in branch. Progress is saved.
2
Vehicle and identity checked
Value, history, identity, fraud and income, pulled into the same file.
3
Your policy decides
Approve, counter-offer, refer or decline, with a second look where you want one.
4
Protection and signing
GAP and payment protection are offered, and documents are e-signed.
5
Booked to your core
The loan is booked without re-keying, ready to fund.
See direct auto connected end to end
A short briefing for your lending, risk and operations leaders.
Who it is for
Built for the people who take auto loans to funding
More approvals, in your policy
Your team sets rules, pricing and counter-offers, with a second look from Open Lending's Lenders Protection where you want one.
Nothing re-keyed
Data entered once flows to the underwriter, the decision engine, the documents and your core booking.
Collateral on the same record
Value and vehicle history come into the loan file, so collateral checks use the same record as the decision.
Protection at approval
GAP and payment protection are offered inside the workflow when the member is approved.
What it replaces
Replace the handoffs between application and funding
Approved loans stall when the pieces live in different tools.
Data entryApplication details re-entered at each handoffEntered once and carried through
Vehicle dataValue and history looked up in separate toolsPulled into the same loan file
DeclinesA decline ends the conversationCan route to Open Lending's Lenders Protection for a second look
ProtectionOffered in a separate system after approvalGAP and payment protection offered inside the workflow
BookingRetyped into the coreBooked once to your core
Common starting points in credit union lending. Yours may differ.
The connected loan file
Everything an auto loan needs, around one record
Each connection feeds the same file, so each team sees the same facts.
- Member applicationWeb, mobile or branch, saved as they go.
- Vehicle value and historyJD Power, KBB, CARFAX.
- Credit and incomeBureaus, Plaid, Conductiv.
- Identity and fraudChecked in real time.
- ProtectionGAP and payment protection.
- Signature and core bookingE-signed, booked to your core.
Why connection matters
The same five steps, retyped at every handoff or carried through once
Re-keying is where files wait, errors creep in and approved loans go quiet.
- DisconnectedApplication, vehicle checks, decision, documents and core booking are separate steps, retyped at each handoff.
- ConnectedThe same five steps run along one record: no re-keying, one audit trail, booked once.
One platform, every vehicle
Direct auto, and the vehicles around it
New and used
- Direct auto on the same platform as indirect auto
- Value and history in the loan file
Recreational and marine
- The same connected flow
- Collateral checks use the same record
Powersports
- The same rules, pricing and counter-offers
- GAP and payment protection at approval
Integrations
Everything an auto loan needs, connected
Vehicle data, income, protection and your core feed the same record.
Vehicle value and history
JD PowerKBBCARFAX
Second look
Open Lending
Income and cash flow
PlaidConductiv
Cores
Jack Henry SymitarCorelationFiserv
Other cores are scoped with each credit union.
Questions leaders ask
Straight answers
What auto loans does it support?
Direct auto, new and used, plus RV, boat and powersports, on the same platform as indirect auto.
What happens when an application is declined?
Declines can route automatically to Open Lending's Lenders Protection for a second look. You set this per product.
Can we offer GAP and payment protection?
Yes. They are offered inside the workflow when the member is approved.
Can someone who is not yet a member apply?
Yes. A member applying for a first loan can open membership and fund a share account in the same session.
Will it work with our core?
Algebrik is connected to Jack Henry Symitar, Corelation and Fiserv cores. Other cores are scoped with each credit union.
See direct auto lending connected end to end
Tell us who you are and we will arrange a short briefing for your lending, risk and operations leaders.