Thin-File Millennial and Gen Z Borrowers Lead in Credit Tier Advancement, Open Lending and TransUnion Research Finds
Open Lending Corporation - Class A (LPRO)
Company Research
Source: Business Wire
New data on generational borrowing habits and credit potential reveals Millennials and Gen Zers prioritize automotive loan payments AUSTIN, Texas--(BUSINESS WIRE)--Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, and TransUnion, a trusted global information and insights company, today released a new study on the borrowing habits and credit outlook for Millennials and Gen Zers. Using data from over 4 million U.S. consumers, the report illustrates new-to-credit borrowers’ upward credit trajectory with insights into lending patterns and preferences.The report underscores the potential value Millennials and Gen Zers can bring lenders, with key findings showing:Millennials and Gen Zers are poised and quick to advance: Data revealed that 30% of Millennial and Gen Z thin-file consumers moved up credit tiers within two years compared to 22% of Gen X or
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LPRO
News
- Credit Scores Are Rising for Millennials and Gen Z — What Boomers Can Learn From Them [Yahoo! Finance]Yahoo! Finance
- OneAZ's Launch of Credit Flex Auto Program Backed by Open Lending [Yahoo! Finance]Yahoo! Finance
- OneAZ’s Launch of Credit Flex Auto Program Backed by Open LendingBusiness Wire
- Open Lending to Announce First Quarter 2024 Results on May 7, 2024GlobeNewswire
- Near- and Non-Prime Consumers At Risk of Being Priced Out of the Vehicle Market, Open Lending Research Finds [Yahoo! Finance]Yahoo! Finance
LPRO
Earnings
- 2/27/24 - Miss
LPRO
Sec Filings
- 4/16/24 - Form 4
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- LPRO's page on the SEC website