Lending

Expanding Your Loan Trading Network: 4 Lessons from Apple

Kristin Zell

Aug 24, 2023

In today’s interconnected world, it’s crucial to expand your loan trading network to open doors to new opportunities, collaboration, and resources that can drive growth and success. One company that has excelled in this area is Apple. Over the years, Apple has demonstrated the ability to leverage partners, expanding its network to achieve unparalleled success. By exploring Apple’s methodology, you can learn valuable lessons to apply to your own credit union or bank network to increase loan participations.

Start with strong partnerships.
Apple begins with strong partnerships. By tapping into trusted resources and networks that share a commitment to innovation, Apple offers solutions and services that inspire confidence in customers.

When considering expanding your network for loan selling and trading, having strong partnerships provides an extra level of trust and security ‒ especially when you know your partner has already vetted the other party, as well. Making credit decisions without understanding the credit culture, values, and certainty of a trusted resource can make it tough to connect with partners. Although you may have access to public information on the web and through the FDIC, knowing the partner has been vetted by another company ‒ possibly one that you already work with ‒ can be comforting when considering a transaction.
Make sure all parties benefit.
Successful networking is not a one-sided affair. Apple understands the importance of creating win-win situations for all parties involved, ensuring that its partners also benefit from their collaborations.

Like Apple, the Jack Henry™ ecosystem allows for extensive networking opportunities. But sometimes bank and credit union employees may not know how to go about getting connected. Leveraging user groups, social media, and platforms like Jack Henry Loan Marketplace™ can assist in expanding your network.
Integrate partner offerings into your ecosystem.
Apple’s methodology emphasizes the integration of partner offerings into its ecosystem. By seamlessly integrating partner products and services, they create a unified and compelling user experience. This not only enhances Apple’s offerings but also provides additional value to its partners, exposing them to a broader customer base and increasing their reach.

With more than 6,000 financial institutions in the U.S., along with an unknown number of alternative lenders, it can be difficult to wade through your options. For example, what happens when a credit has moved down the credit spectrum and needs to move on from your traditional financial institution? With the integrations and synergies in place with Jack Henry Loan Marketplace, you can make a “no” or a “you need to move on” conversation easier by providing a softer potential landing for that business owner.
Communicate clearly and collaborate effectively.
Clear and open communication is the cornerstone of Apple’s networking strategy. Effective collaboration and information-sharing enables seamless coordination for a mutually beneficial outcome. This approach fosters a safe environment that enables the entire network to contribute to ‒ and benefit from ‒ growth and success.

The beauty of leveraging a platform like Jack Henry Loan Marketplace is that it offers the shopping experience you need without making you blaze a new path all on your own. Apple’s methodology of using existing partners to expand its network offers valuable insights for anyone seeking to enhance their own networking efforts.

It’s time to take a page from Apple’s playbook and start leveraging your existing partnerships to expand your networks and reach new heights. When looking to buy and sell loans, take advantage of Jack Henry’s ecosystem. After all, we’re already your trusted partner.