In a major move to expand its direct-to-consumer services, Westlake Financial is partnering with leading credit card-as-a-service provider, Railsr.
SANTA MONICA, California, USA, October 20, 2022 /EINPresswire.com/ — Railsr, the world’s leading integrated finance platform, today announces that Westlake Financial has chosen Railsr to develop and scale its new credit card offering.
“As one of the nation’s largest private financial companies, we strive to provide our clients with world-class financing and service,” said Ian Anderson, Group President at Westlake Financial. “By partnering with Railsr on the new Westlake Black credit card, we can engage our customers with a new offer that will extend the value we can deliver to them.”
This credit card will initially be offered to existing Westlake customers who can now integrate Westlake services throughout their financial journey. Westlake plans to roll out the credit card to new customers in the future.
Unlike traditional co-brands, where brands must adopt the bank’s application and experience, Railsr allows Westlake to take ownership of the user experience, without taking on the complexity of building the card infrastructure from internal underlying credit. Westlake controls critical differentiators like UX design and rewards, while Railsr handles all back-end complexity like technology stack, bank sponsorship, compliance monitoring, service, and reporting. Together, companies can create differentiated experiences in record time.
The one-time offer will give users cash back on all purchases, including a 2% cash back on all qualifying automotive purchases. With no annual fee and credit limits of up to $10,000, the Westlake Financial Black credit card is a competitive option for customers looking to boost their credit and save money. The Railsr partnership is key to giving Westlake valuable data to personalize these rewards.
Westlake Financial is a technology-driven private finance company specializing in the acquisition and management of prime, quasi-prime and subprime automotive retail installment contracts. Its clients have a wide range of credit histories and financial needs.
About Westlake Technology Holdings
About Westlake Technology Holdings: Westlake Technology Holdings is an automotive and financial technology company headquartered in Los Angeles, California with approximately $15 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail contracts through a nationwide network of new and used automobile and powersports dealerships. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio management through Westlake Portfolio Management (WPM); floor plan lines of credit are provided by its Westlake Flooring Services division, www.WestlakeFlooringServices.com; cash flow shared auto lending through Westlake’s wholly-owned subsidiary, Western Funding Inc., a Nevada-based auto lender; indirect auto leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly-owned subsidiary, LoanCenter, loancenter.com.
Railsr is the world’s leading platform for integrated financial experiences. He helps brands put customer experience at the heart of their business by using finance as a strategic engagement tool to deepen relationships, create increased brand relevance and drive revenue. The Railsr platform provides financial products and solutions including banking and wallets, cards, credit and rewards. For more information on Railsr, visit: https://www.railsr.com/
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