DecisionLogic Surpasses 10 Million Customer Mark

DecisionLogic Surpasses 10 Million Customer Mark

San Diego Business Guides Customer Finance Industry with Real-time Electronic Transactional Data That Renders the FICO Score Obsolete

SAN DIEGO–( BUSINESS WIRE )–DecisionLogic, a FinTech frontrunner in bank verification, has established so it has surpassed the 10 million customer mark. DecisionLogic’s clients include vendor loan providers, lenders, real-estate agents, payday and money installment loan providers, stores, customer finance businesses and finance institutions in Australia, Canada, uk, united states of america and brand brand New Zealand.

DecisionLogic is definitely a advanced level bank verification Software-as-a-Service (SaaS) platform allowing loan providers to instantly confirm a possible borrower’s banking information online and in real-time. Past means of doing this procedure created many issues for the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology having a mission to boost asset verification for the customer and service that is financial, enhancing the monetary industry all together and producing possibilities for a big part of the populace to gain access to economic assets which may be so critically vital that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads the way in which whilst the monetary industry learns to go beyond the original ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easier way to retake ownership of their‘report that is financial card’. Customers and loan providers appreciate that people can offer understanding of a borrower’s profile that is financial reports current real-time banking history, work and spending. FinTech should democratize the consumer’s role into the monetary industry. In place of depending on a credit report that may penalize a debtor for the late bank card re payment from 5 years ago, loan providers like to look at the borrower’s up-to-the-minute financial situation – whether the debtor is a person or business.”

“As customers worldwide move online more and much more every year, electronic banking happens to be a convenient, normal section of their everyday lives, likewise online asset verification happens to be main-stream us today— it’s not just early adopters using. Because of this, as soon as DecisionLogic’s clients go through the advantages of real-time reporting that is financial will not come back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed to many other successful components of DecisionLogic’s business model which have resulted in surpassing the 10 million customer milestone:

• Consumer engagement is important and extremely high with almost all of cash central loans title loans DecisionLogic’s lenders.

• DecisionLogic increases lead-to-loan ratios by up to 500 % while the technology permits you aren’t online access including a smartphone to validate their income quick — from anywhere, as well as such a thing.

• DecisionLogic is embedded in loan provider the web sites allowing seamless integration with applicant workflow on the internet and through mobile phones.

• In an a/b that is scientific of 30,000 loans, DecisionLogic technology paid off first-time standard prices by 40 per cent contrasted to subprime credit reporting agencies.

• DecisionLogic is lucrative for almost 5 years and it is completely self-funded. The DecisionLogic objective would be to build a undoubtedly customer-friendly company that genuinely solves problems and delivers a service that companies develop to rely upon.

Bart Miller, one of many country’s leading authorities on sub-prime lending and CEO of Centrinex, states, “We’ve been making use of DecisionLogic across an amount of portfolios for quite some time – DecisionLogic could be the industry standard for electronic bank verification.”

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