ORIGENCE CEO SHARES INDUSTRY PREDICTIONS AT SOLD-OUT LENDING TECH LIVE ‘24

Tony Boutelle

Origence, the leading lending technology solutions provider for credit unions, celebrated its 30th anniversary with a sold-out annual conference, Lending Tech Live ’24. Tony Boutelle, CEO of Origence since its inception, reflected on three decades of industry innovation and shared bold predictions for the future of lending and automotive markets.

Since 1994, Boutelle highlighted the transformation of the credit union industry, which has grown from $307 billion to over $2.2 trillion in assets today.

“Our journey has been defined by continuous innovation and adaptation,” said Boutelle. “As we celebrate three decades of growth, we’re not just reflecting on our past achievements but also envisioning what the market might look like 30 years from now.”

Looking ahead, Boutelle emphasized Origence’s strategic initiatives, including the continued expansion of its 20,000 U.S. auto dealers and a focus on investing in technology to ensure credit unions remain relevant and competitive as the lending landscape evolves. In 2024, Origence anticipates funding approximately $62 billion in loans, with a significant focus on indirect lending.

“Over the next 30 years, we foresee significant shifts in the automotive and lending industries,” Boutelle projected. Amazon started the same year as Origence in 1994 with a simple online bookstore; at the time, nobody expected online sales to take off. Fast forward to today, bookstores are almost gone. While we don’t believe the car dealership is going away anytime soon, 85% of car shopping already starts online. It feels safe to say that in the next 30 years, the majority of car sales will be online, and 100% of those associated auto loans will be done online as well. This trend has already begun with the likes of Carvana, Tesla, Clicklane, and even Amazon’s entry with Hyundai into online car sales. “We predict a future where online marketplaces, direct-to-consumer models, and electric vehicles will dominate the landscape, requiring us to adapt and innovate continuously,” said Boutelle.

Over the past few years, we have seen the amount of lending fraud and its sophistication ramp up exponentially, fueled by personally identifiable information that was stolen in retailer system hacks and sold on the dark web. The pervasiveness of the problem continues to grow, and we predict it will force new industry solutions for advanced identity verification in the future.

As auto loan transactions move entirely online, this forces a new reality for credit unions and lenders. Consumers want the Tesla-like 3-click experience with instant gratification. This means we have to move as an industry from 25% instant automated system decision to 95%+ instant automated system decisioning, as well as automate loan processing and funding. Our members are already seeking this level of service.

It is safe to say that in 30 years, more cars will be electric, but autonomous is the next level. Today, we are at level 2 in driving, but advancements in artificial intelligence and lidar systems are accelerating the pace to full autonomous levels 4 and 5 that all cars will be equipped with in twenty years. This by itself will radically change car ownership, car insurance, etc., which we need to start preparing for.

We have an interesting future ahead of us, and it is not unreasonable to expect to see some sort of Jetsons cartoon-like flying car doming along.

To wrap up the session, Boutelle asked attendees to write their own predictions to add to a time capsule to be opened in 2054.
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Preparations are now underway for Lending Tech Live ’25, which will be held June 16-18, 2025, in Nashville, Tenn. For more information on next year’s event, visit https://events.origence.com/LIVE25.

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