COSTA MESA, Calif.–(BUSINESS WIRE)–MeridianLink, Inc.® (NYSE: MLNK) today announced that it has completed the acquisition of Open close™, a leading fintech provider of residential mortgage software solutions for banks, credit unions and independent mortgage lenders. The acquisition will enable clients to provide consumers with seamless digital lending experiences, while reducing costs and closing times. The agreement will also support the continued market expansion of MeridianLink’s full system capabilities serving depository organizations.
MeridianLink is committed to continuous innovation and will continue to invest in OpenClose (LenderAssist™) and MeridianLink® Mortgage (formerly known as LendingQB®) LOS solutions, giving customers more choices for award-winning digital loan offerings. OpenClose and MeridianLink Mortgage workflow-based solutions offer digital loan origination (LOS), point-of-sale (POS), product and pricing engines (PPE), and business intelligence (BI) functions ) market leaders, with easy access from any browser or mobile device.
“We are delighted to welcome the OpenClose team to MeridianLink. Combining the strengths of our organizations is great for the industry as we enable our customers to deliver fast and frictionless mortgage experiences from application to closing,” said Nicolaas Vlok, CEO of MeridianLink. “This acquisition ensures that all customers can be confident that they have a top-notch, comprehensive mortgage solution, whichever offer they choose, and that we will continue to invest in both offers as we will evolve the products to incorporate the best capabilities of each.”
As part of the integration, MeridianLink Mortgage customers will be able to access the OpenClose point-of-sale (POS) system, Consumer Assist™, providing a superior experience for borrowers. In addition, OpenClose LenderAssist customers will be able to take advantage of MeridianLink’s PriceMyLoan product and pricing engine (PPE), offering richer pricing options and features such as parallel mortgage insurance pricing, a Built-in fee and loan comparison reports.
Founded in 1999, OpenClose pioneered a SaaS-based loan automation software platform for the mortgage industry. Today, the company’s comprehensive loan origination software helps customers reduce the cost of loan origination while reducing processing and underwriting times. For these reasons and more, OpenClose has seen strong year-over-year growth as financial institutions invest in mortgage technology.
“Since our inception, customers have validated our company’s capabilities by choosing our SaaS solutions time and time again. Now, after record growth over the past few years, we are excited to reach more customers faster while continuing to provide the industry-leading technology, team and customer service that our customers have come to expect,” said JP Kelly, President. to OpenClose. “I am confident that our innovative, talented and dedicated team, along with our cutting-edge technology, will thrive even more as part of MeridianLink.”
About Meridian Link
MeridianLink® (NYSE: MLNK) is a leading provider of cloud-based software solutions for financial institutions, including banks, credit unions, mortgage lenders, specialty loan providers and credit reporting agencies. consumers. Based in Costa Mesa, Calif., MeridianLink provides services to more than 1,900 customers, including the majority of financial institutions on Forbes’ 2021 lists of America’s Top Credit Unions and Banks. Further information can be found at www.meridianlink.com.
This release contains statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. ‘fine. Generally, these statements can be identified by the use of words such as “expects”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “plans”, “seeks”, “should”, “shall” and variations of these words or similar expressions, although not all forward-looking statements contain these identifying words. In addition, statements describing our strategy, outlook, direction, plans, intentions or objectives are also forward-looking statements. These forward-looking statements reflect our predictions, expectations or forecasts, including, but not limited to, statements regarding the anticipated benefits and integration of the acquisition, our future financial and operating performance, our development or delivery of solutions new or improved, our market size and growth opportunities, and our competitive positioning. Actual results may differ materially from those described in forward-looking statements and will be affected by a variety of risks and factors beyond our control, including, without limitation, risks relating to our business and industry, as well than those set out in Point 1A. Risk Factors, or elsewhere in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, any updates to our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K , and our other SEC filings. Any forward-looking statements contained herein are based on reasonable assumptions as of the date hereof. You should not rely on forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events or otherwise.