Vince Passione, Founder and CEO of LendKey, was named a finalist in the Executive Leadership category for the 2024 CU Times Luminaries awards.

Student loans allow more individuals to realize their educational, occupational, and financial potential. But high student debt payments after graduation can reduce financial flexibility and discourage many from taking full advantage of their credentials.

The Financial Technology Report is pleased to announce The Top 25 Lending Technology Companies of 2024. From consumer credit and cryptocurrency to small business loans, the fintech sector is experiencing a spur of innovation in part driven by advancements in AI. This wave of progress has driven both startups and legacy companies to introduce new solutions in consumer and business banking. The companies being recognized on this year’s list have consistently demonstrated an ability to anticipate and adapt to evolving trends and to offer market leading solutions to their customers.

Ent Credit Union said Tuesday it has sold $54 million in unsecured personal loans to an institutional investor. Ent ($9.8 billion in assets, 533,480 members), headquartered in Colorado Springs, Colo., has raised cash and helped reduce its loan-to-share ratio through loan sales. LendKey, a Cincinnati company that offers digital network lending, facilitated the $54 million whole loan portfolio sale, which closed in March through LendKey’s ALIRO loan trading platform.

During a session on “Deposit Growth and Retention Strategies in a Falling Rate Environment” at America’s Credit Unions Strategic Growth Conference, Vince Passione, CEO and founder of Lendkey, noted credit union core deposits saw record growth in 2023.

It is crucial for Credit Unions to embrace fintech partnerships and effectively manage the associated compliance challenges.