Fewer abandoned applications
Members apply on mobile, web or in branch and pick up exactly where they left off. Existing members arrive prefilled, and members already signed in to digital banking skip the password.
Personal lending for credit unions
Turn more personal loan applications into funded loans
Algebrik runs personal lending from first tap to signed loan: prefilled applications, income and identity checked as members apply, decisions in policy, and offers tailored to each member.
Fig 1First tap to funded
The application climbs one step at a timeStep 4 of 4
Illustrative: a sample application, no real data.
The speed members expect
Members decide to borrow on their phones. Algebrik removes the steps that make them stop, and keeps the relationship only your credit union has.
What changes for your credit union
The speed members expect, with the relationship only you have
Members decide to borrow on their phones. Algebrik removes the steps that make them stop.
Income and identity, checked as they apply
Members can share income and cash-flow data directly instead of uploading documents. Identity and fraud checks run in real time inside the application.
Offers and rules you control
Your team sets rates, terms and amounts by risk profile, and tests new strategies on past applications before going live. In-policy applications get a decision in real time.
Audit-ready by design
Fair lending and ECOA checks run inside the workflow. Every decision, document and change is logged, so reviews start from a clean record.
How it works
From first tap to funded loan in four steps
Where Algebrik removes the waiting and the re-keying.
1
Member applies
On mobile, web or in branch. Prefilled for existing members and saved along the way.
2
Checks run in real time
Identity, fraud, credit and income, without sending the member away to upload documents.
3
Your policy decides
Approve, counter-offer, refer or decline, with offers tailored to each member's risk profile.
4
Sign and fund
The member e-signs, and funds go out by internal transfer, check or ACH.
See personal lending run on your policy
A short briefing for your lending, risk and operations leaders.
Who it is for
Built for the people who run personal lending
More applications that finish
Members pick up where they left off on any channel, and existing members arrive prefilled.
Strategy you can test
Your team sets rates, terms and amounts by risk profile, and tests new strategies on past applications before going live.
Fair lending built in
Fair lending and ECOA checks run inside the workflow, and every decision, document and change is logged.
Fewer steps for members
Members share income data directly instead of uploading documents, and identity checks run in real time.
What it replaces
Replace the steps that make members stop
Most abandoned applications are friction, not a lack of demand.
ApplicationMembers re-enter the same details and start over on a new channelPrefilled, saved and resumable on any channel
IncomeMembers upload pay stubs and statementsIncome and cash-flow data shared directly, or documents read automatically
IdentityExtra identity steps mid-flowIdentity and fraud checked in real time inside the application
DecisionWaiting to hear backReal-time decision for in-policy applications, with status in the member portal
Rule changesChanging strategy and hopingSimulated on past applications, then run beside the current one
Common starting points in credit union lending. Yours may differ.
Where members drop off
Five moments that make members stop, and what Algebrik does about each
Most abandoned applications are friction, not a lack of demand.
- Re-entering the same detailsPrefilled from your core data
- Switching from phone to branchSave and resume on any channel
- Uploading pay stubsIncome data shared directly
- Extra identity steps mid-flowIdentity checked in real time
- Waiting to hear backReal-time decision, status in the member portal
Change policy with confidence
Test a new lending strategy before you switch to it
Your credit team can try new rules safely, then promote the one that performs better.
- 1. SimulateTry a new strategy on past applications
- 2. Run side by sideNew strategy beside the current one on live applications
- 3. PromoteCompare results, then promote the better strategy
Who can apply
Members, non-members and every income source
Prefilled and saved
- Existing members arrive prefilled
- Members signed in to digital banking skip the password
- Save and resume on any channel
You choose what happens
- Redirect them to open an account
- Block the application
- Create the membership alongside the loan
Shared or uploaded
- Share income and cash-flow data through partners such as Plaid and Conductiv
- Or upload documents
- Pay stubs, W-2s and bank statements are read automatically
Integrations
Income, identity and your core in one flow
Members share what they choose to, and the data lands in the same application.
Income and cash flow
PlaidConductiv
Cores
Jack Henry SymitarCorelationFiserv
Other cores are scoped with each credit union.
Questions leaders ask
Straight answers
Which personal loan types does it support?
Unsecured personal and signature loans. Each loan type can have its own workflow, forms, decision rules and stipulations.
How do members show their income?
Members can share income and cash-flow data directly through partners such as Plaid and Conductiv, or upload documents. Pay stubs, W-2s and bank statements are read automatically.
Can we test new rules without risking the portfolio?
Yes. Your team can simulate a new strategy on past applications, then run it beside the current one on live applications before switching.
Can non-members apply?
Yes. You choose what happens: redirect them to open an account, block the application, or create the membership alongside the loan.
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 your personal lending run on your policy
Tell us who you are and we will arrange a short briefing for your lending, risk and operations leaders.