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Kasasa® and MeridianLink® Partner, Enabling Financial Institutions to Quickly Offer Kasasa Loans™

Award-winning financial technology and marketing provider, Kasasa®, today announced a strategic partnership and direct integration with MeridianLink®, developer of the financial industry's first, multi-channel loan and new account origination platform.

Through this partnership, financial institutions using MeridianLink’s loan origination platform can offer the Kasasa Loan™, the only loan whose take-back™ feature is preferred by 9 out of 10 consumers. The Kasasa Loan allows borrowers to pay ahead on their loan to reduce their debt, but unlike other loans, borrowers can choose to take the extra payments back when something unexpected happens and they need access to that money. The user-friendly mobile and web tools make this loan the most transparent and easiest to manage in history. This new concept eliminates the fear of parting with ‘extra money’ and reinforces positive financial decisions like paying off debt early.

“Kasasa has created something unique and powerful in the lending market that we believe will transform this space,” said Doug Glagola, vice president of Enterprise Solutions for MeridianLink. “We’re excited about this partnership and how it will enable our clients to quickly offer and go to market with the Kasasa Loan, eliminating integration headaches and helping to give them a true competitive edge. And we’re confident our clients will be equally excited about this new partnership.”

The Kasasa Loan will provide a competitive advantage for MeridianLink clients by giving them easy access and easy integration to a new consumer lending product. At the same time, it empowers the consumer to make better financial decisions and reduce debt. In fact, in extensive testing, 98 percent of consumers said they would refinance existing debt at the same rate in order to get a Kasasa Loan with the take-back functionality.

In the latest Cornerstone Advisors’ report, “Reinventing Consumer Loans: How Community Based FIs Can Win the Millennial Lending Market,” Ron Shevlin, Director of Research, emphasizes the need for community financial institutions to find new strategies to better compete with large banks in the lending markets, pointing to products like the Kasasa Loan™ as a solution.

“Competing by improving the digital application experience isn’t likely to be a winning strategy for those FIs, as they are often reliant on third-party vendors for IT solutions and don’t have the deep pockets to experiment with new digital solutions,” said Shevlin. “Community-based FIs can compete, however, by reinventing the loan product itself.” Shevlin goes on to advise community financial institutions to explore three main areas to gain a competitive edge, including flexible credit terms, bundling accounts, and providing access to their funds with features like those found in the Kasasa Loan.

“Partnering with MeridianLink is a natural fit that will allow both organizations to help more community banks and credit unions quickly deliver a revolutionary loan product,” said Gabe Krajicek, CEO of Kasasa. “Since the Kasasa Loan is only available through community banks and credit unions, the big hurdle for an FI is really how long it takes to get to market. The Kasasa and MeridianLink partnership makes getting to market simple and fast to allow the FI to get the maximum competitive advantage in their market as quickly as possible. The Kasasa Loan is changing the way financial institutions approach lending and the way consumers think about debt, and we’re excited to make this option available to even more individuals. It’s time to take back banking!”

About MeridianLink

MeridianLink, Inc., developer of the industry's first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for 20,000+ financial service organizations. The company’s passion for excellence is reflected in their web-based credit reporting, lending and new account opening/deposit technologies, which all enjoy solid reputations as being cutting edge, reliable and affordable. Based in Costa Mesa, California, MeridianLink is committed to creating smart solutions that deliver real value. For more information, visit www.meridianlink.com.

About Kasasa

Kasasa is an award-winning financial technology and marketing technology provider. Based in Austin, Texas, with 350 employees, Kasasa helps more than 750 community financial institutions establish long lasting relationships with consumers residing in their local markets through its branded retail products, world class marketing capabilities, and expert consulting. The company reinvented checking and is now reinventing lending through its latest patent-pending offering, Kasasa Loans™. Learn more about Kasasa’s innovative products and services:

Reward Checking Accounts

Kasasa LoanTM – The only loan with take-backs

Marketing & Technology - Connect

Websites That Sell

Consulting & Insights

For more information, please visit www.kasasa.com, or visit them on Twitter @Kasasa, Facebook, or LinkedIn.

Contacts:

For Kasasa
Mallory Wilkerson, 678-781-3076
mwilkerson@williammills.com

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