Suggestions
Vince Passione
Chief Executive Officer|Founder at LendKey
Vince Passione serves as the Chairman of the Board of Directors at the Adaptive Sports Foundation (ASF), a nonprofit organization dedicated to empowering individuals with disabilities through adaptive sports. He was appointed as Interim Chairperson in July 2017 and has been a member of the ASF Board of Trustees since 2010.12
Background and Contributions
Passione is a seasoned professional in the financial technology sector, being the founder and CEO of LendKey, which offers advanced lending solutions. His previous roles include serving as COO of DealerTrack and President of Ameritrade’s Institutional Client Division.14 His extensive experience in technology and finance has been instrumental in guiding ASF's strategic initiatives.
In addition to his leadership role, Passione has been actively involved with ASF as a volunteer snowboard instructor for 15 seasons and has co-founded Ride2Live, a program designed for children on the autism spectrum.13 His family is also engaged with ASF; both of his daughters have volunteered as instructors, and his wife has participated in various committees.1
Vision for ASF
As Chairman, Passione emphasizes the importance of community engagement and philanthropy in advancing ASF's mission. He has expressed gratitude for departing board members' contributions and is focused on welcoming new trustees who share a commitment to enhancing the organization's impact on individuals with disabilities.23
Passione's leadership reflects a blend of professional expertise and personal dedication to adaptive sports, making him a pivotal figure in ASF's ongoing efforts to empower lives through sports.
Highlights
I'm excited to share that LendKey, in collaboration with Member Student Lending, has awarded $20,000 in scholarships to support students in their pursuit of higher education. This initiative reflects our commitment to making higher education more accessible and help alleviating the financial burdens many students face. We believe that education is a vital investment in the future, and we are proud to contribute to the success of the next generation. For more details, check out the full announcement here: https://lnkd.in/eXgHGZ9i #scholarships #highereducation #studentloans
Embracing partnerships with #fintechs isn't just a good idea—it's a strategic necessity for #creditunions today. Consider this: larger credit unions, those with assets over $1 billion, are experiencing an impressive 8.1% growth in membership, while their smaller counterparts are grappling with a 4.3% decline. This disparity underscores the pivotal role of advanced technology in member attraction and retention, and the potential for growth and competitiveness through fintech partnerships. Let's face it: today's members expect seamless, user-friendly digital experiences. Yet, a staggering 86% of banks and credit unions in the U.S. report that their digital application abandonment rates are higher than they'd like. But it's not just about attracting new members; it's also about efficiency. Fintech partnerships allow credit unions to roll out new solutions quickly, which can be a game-changer in a rapidly evolving market. These partnerships help credit unions streamline processes, boost member satisfaction, and offer products without needing their in-house expertise or resources. For example, digital network lending decreases loan processing times and significantly reduces operational costs, allowing credit unions to offer more competitive rates and terms to their members. Network lending provides access to a broader network of potential borrowers, automated underwriting processes, and real-time decision-making, and this expanded reach and efficiency allows credit unions to compete more effectively with larger banks and online lenders while still maintaining their community-focused approach and personalized service. Network lending facilitates partnerships between credit unions and other financial institutions, enabling them to share resources, diversify risk, and offer a broader range of loan products to meet their members' diverse needs. These collaborations are not just about keeping up with the competition; they're about leading the charge in delivering exceptional member experiences. By leveraging fintech solutions, credit unions can offer the seamless digital services members crave while maintaining their community-focused approach. This is an opportunity to not just meet but exceed member expectations. Don't let your credit union fall behind—the time to innovate is now.
