Lendio, an AI-driven origination platform based in Lehi, has appointed Pam Parker to its Board of Directors to aid in its platform transformation. Parker, a former Fortune 500 executive and enterprise fintech leader, will also serve on the company's audit and compensation committees.
According to a company announcement, Parker brings decades of expertise in SaaS platform growth, financial services, and payments technology. She most recently served as an independent board director at TouchBistro. Her previous experience includes nearly a decade at First Data, where she served as President of Bill Payment Solutions, as well as roles at PNC Merchant Services and JPMorgan.
Lendio CEO and Co-Founder Brock Blake stated that the company is seeing traction by allowing SMB platforms and lenders to bring financing directly into their native experiences. Parker noted that she joined the board as the company reaches an inflection point in its platform transformation, specifically regarding its embedded solution marketplace.
Lendio serves as a large platform for small business lending in the United States, having funded over $17 billion. The platform matches businesses with financing across more than 10 loan types through over 100 integrated lenders. The company's embedded lending solution utilizes proprietary AI and data from over 30 third-party sources to identify financing opportunities.
Lendio's embedded financing solution encompasses the entire lending journey, including opportunity identification, application, underwriting, closing, and ongoing servicing. The company's embedded solution reportedly qualifies four times as many businesses as a standard referral partnership.
