Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, is pleased to announce Dan Berger, former President and CEO of the National Association of Federally-Insured Credit Unions (“NAFCU”) will be a strategic advisor to Open Lending’s executive leadership team. As a trusted advisor, Berger will collaborate closely with Open Lending to enhance product offerings and innovation, drive market share, and further expand relationships with credit unions across the country.
Berger brings a wealth of expertise in the financial services industry, having led NAFCU through a period of significant growth and innovation. Under Berger’s leadership, NAFCU grew its membership by nearly 50 percent. NAFCU now represents approximately 56 percent of the industry’s assets.
“Dan’s deep experience with credit unions will help us build on our mission to serve the underserved as the economy recovers,” said Chuck Jehl, Interim CEO of Open Lending. “His understanding of credit union operations, the regulatory landscape, and the industry mission to serve its members will be invaluable as we continue to empower lenders nationwide with our lending enablement technology. As the automotive finance industry is undergoing enormous changes brought on by advanced technologies fueled by an avalanche of data analytics and the capabilities of AI and machine learning, Dan knows well that true success comes from focus, discipline, results and long-term relationships. We are excited about the opportunity to partner with Dan.”
Berger expressed his enthusiasm for the partnership, stating, “Open Lending’s long-standing commitment to providing innovative lending solutions to help serve the underserved aligns perfectly with my passion for advancing the credit union movement. While the current credit cycle has presented opportunities and challenges for the industry, Open Lending remains focused on providing solutions aimed at improving loan-to-share and net worth ratios. I look forward to adding to the next chapter of their mission of making auto lending more accessible and more affordable for consumers, and more efficient and productive for lenders.”
Open Lending’s proprietary Lenders Protection™ program, which provides “more than a score” that evaluates the borrower, the vehicle, and the structure of the deal for true risk-based pricing, fully automated decisioning, and built-in default insurance, has revolutionized the way lenders evaluate and approve auto loans. With Berger’s strategic guidance, the Company aims to further optimize its offerings and expand its reach to even more credit unions nationwide.
Learn more about Open Lending at openlending.com.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 24 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.
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