Mesh
Manual license checks once a year. Hundreds of contractors. Limited visibility between reviews.
That was the challenge LendKey faced as it scaled its home improvement lending operations across the U.S. In highly regulated industries like point-of-sale lending for home services, contractor compliance isn’t just about checking a box — it’s about protecting customers, lenders, and reputation. For LendKey, relying on once-a-year license reviews created potential risks and inefficiencies.
The Challenge
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Manual License Checks. Annual Reviews. Compliance Gaps
- Before, LendKey's compliance process was manual and relied on phone calls or online searches. The process was conducted only once per year. Contractors could lose compliance mid-cycle — having their licenses suspended or revoked by a government agency before the license expired, and LendKey wouldn’t know.
The Result
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Automated Continuous Merchant Monitoring Through Verdata Powered by Mesh
- 600+ contractors moved from manual reviews to automated monthly monitoring
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Push alerts triggered when licenses expire, are suspended, or fall out of standing
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Confidence to scale in partnership with top financial institutions
What’s Next:
Smarter Data Discovery and Enrichment for Risk Management
Now, LendKey is exploring license discovery, a next-gen capability from Mesh that fills gaps in legacy portfolios by identifying licenses — even when contractors didn’t provide them.
This is how compliance moves from static snapshots to continuous confidence.
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