#USA #Fintech #Auto Loans #La #Auto Link

Auto Link Reports Strong Q4 and Year-End Performance

Auto Link, a prominent fintech and marketing firm catering to over 250 financial institutions, has unveiled its sales figures for the year 2024. The company demonstrated robust growth, particularly in the fourth quarter where it successfully signed contracts with eleven new credit unions, greatly enhancing its market presence.

Among the newly partnered entities are notable organizations including City of Firsts Community FCU in Kokomo, IN, and the FAA FCU based in Memphis, TN. These collaborations signify a strategic push to expand Auto Link's innovative auto search and marketing solutions, which empower credit unions to effectively compete against larger banks and financing companies.

In total, Auto Link welcomed 27 new clients within the year, collectively representing $7.3 billion in assets and serving over 524,000 members. This growth is indicative of the increasing need for digitized solutions in the car-buying sector, especially as conventional purchasing methods evolve.

With the entry of substantial players like Amazon into the automotive market, it has become crucial for lenders to establish early engagements with potential borrowers during their car buying journey. Auto Link’s distinctive vehicle marketplace serves as a white-labeled platform, allowing financial institutions to embed a comprehensive digital vehicle search tool into their websites. This proprietary technology is designed to enhance user experience while generating more auto loans.

As Amanda Habansky, the President and CEO of People's Advantage Federal Credit Union, expresses, partnering with Auto Link enables them to provide members with seamless, digital shopping experiences. This allows credit union members to navigate their auto purchase journey without falling prey to predatory lending practices. Moreover, the embedded analytics help these institutions understand their participants' preferences, enhancing member engagement at key decision points.

Auto Link's commitment to innovation is further evidenced by its advancements in AI and digital technology. These enhancements not only simplify the auto lending process but also foster a customer-centric model that prioritizes the needs of borrowers.

Additionally, every member financing a vehicle through an Auto Link partner receives a 'myEZ Car Care' loyalty membership, which offers discounts at over 10,000 locations across the nation. This loyalty program, coupled with the Electronic Glove Box® app, exemplifies Auto Link's dedication to delivering value beyond just financial transactions.

For financial institutions keen on refining their auto-lending programs, Auto Link offers a comprehensive solution that includes a marketing library, social media tools, web interface, and training resources.

Auto Link's continuous efforts in enhancing its offerings position the company as a leader in the fintech space, catering specifically to the evolving requirements of the automotive lending market. By leveraging technology, collaboration, and a member-first approach, Auto Link sets the stage for sustained growth and innovation in 2025 and beyond.