The resulting Allegro Lending Suite was released to ILT lender clients in 2017. On October 16, 2019 the final step was taken when all auto dealers and other credit application sources, numbering about 5,000, began using the Allegro dealer platform.
This is a big day for all of our clients and for everyone here at ILT, said Will McGregor, CEO at ILT. Dealers and other application sources are going to be very happy with all the upgrades in the Allegro loan application platform. With this latest technology we expect to see more applications from new and even unexpected sources because of the added flexibility and versatility of the new format. And, more applications means more loans for our lender clients.
The Allegro Lending Suite is a loan origination system utilized by credit unions, banks and finance companies. Allegro enables many types of dealers, vendors, service providers or their customers to send loan applications through Allegro to ILT's lender clients for no charge to the application source. Allegro is integrated with other popular application platforms to maximize the number of applications received by Allegro's lender clients. An automobile dealer or other application source can choose to use the Allegro platform or one of the other platforms integrated with the Allegro system.