Sandbox Banking has partnered with MeridianLink in order to provide the latter’s customers with improved cloud-based integration between several platforms. Following this announcement, the collaboration is set to deliver financial institutions that are part of MeridianLink’s customer portfolio an efficient and secure cloud-based integration between several platforms across the life of the loan.

This aims to enable them to optimise their overall borrower experience, scale business, as well as to streamline lending operations. As a system integrator, Sandbox will provide its services in order to enable MeridianLink clients and users to connect with the core in an easy manner, as well as to customer relationship management (CRM) and accounting systems. Moreover, clients will be enabled to increase operational efficiency through streamlined procedures, while also reducing costs that are associated with vendor incorporating procedures into their already existing infrastructure.

This integration will focus on offering banks, financial institutions, and credit unions a comprehensive cloud product for overall accelerated loan origination. In addition, financial institutions will be able to accelerate their digital transformation while reducing the time for receiving customer and mortgage loans. With the integration of Sandbox Banking’s Glyue platform, customers of MeridianLink will be able enabled to automate and optimise their loan origination procedures and improve the overall borrower experience, while also reducing costs.  MeridianLink’s recent strategy of development MeridianLink provides digital lending and account opening to financial institutions, as well as data verification services for client reporting agencies. The firm had multiple collaborations in the last couple of months, covering several different geographies around the world.

In July 2023, the digital identity verification service company Socure announced its partnership with cloud-based platform provider MeridianLink. Throughout this strategic deal, MeridianLink’s clients were given the possibility to leverage SocureID+, the company’s identity verification and fraud detection platform. Furthermore, it was also enabled to verify and onboard its users in real-time.

The process was expected to eliminate friction and detect fraudulent applicants and activities. The companies aimed to further allow banks, credit unions, fintechs, and financial institutions to optimise the account opening process, in order to improve the overall accuracy of identity verification, fraud management, and fraud detection. Earlier in 2022, US-based financial data platform MX signed a reseller agreement with MeridianLink for integrating the former’s Instant Account Verification (IAV) into MeridianLink Opening.

The MeridianLink Opening was designed to enable users to open and fund new deposit accounts in a quick and secure manner. By incorporating MX’s solutions, customers were given the capability to leverage fast verification technologies in order to provide the needed information to verify and connect their external accounts quickly. This ensured a more efficient and secure experience for their clients, an increased conversion, as well as an optimised manner to mitigate fraud and risk.

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