DecisionLogic Surpasses 10 Million Customer Mark

DecisionLogic Surpasses 10 Million Customer Mark

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

SAN DIEGO–( COMPANY WIRE )–DecisionLogic, a FinTech frontrunner in bank verification, has established it has surpassed the 10 million customer mark. DecisionLogic’s clients consist of vendor loan providers, home loans, real-estate agents, payday and cash installment loan providers, retailers, customer finance companies and banking institutions in Australia, Canada, great britain, united states of america and brand New Zealand.

DecisionLogic is definitely a bank that is advanced Software-as-a-Service (SaaS) platform allowing loan providers to immediately validate a possible borrower’s banking information on the internet and in real-time. Past options for doing this procedure created many issues for both the lender and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology with an objective to boost asset verification for the customer and service that is financial, enhancing the monetary industry all together and producing possibilities for a sizable part of the populace to gain access to monetary assets that could be therefore critically vital that you their wellbeing.

“DecisionLogic’s fresh, real-time transactional information leads the way in which because the economic industry learns to go beyond the traditional ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easy method to retake ownership of their monetary ‘report card’. Customers and loan providers appreciate that individuals provides understanding of a borrower’s profile that is financial reports current realtime banking history, work and investing. FinTech should democratize the consumer’s role when you look at the industry that is financial. Instead of counting on a credit file which may penalize a debtor for a belated bank card re re payment from 5 years ago, loan providers wish to look at the borrower’s up-to-the-minute financial situation – whether the debtor is a person or small company.”

“As customers worldwide move online more and much more every year, electronic banking has become a convenient, normal element of their everyday lives, likewise online asset verification is mainstream us today— it’s not just early adopters using. Because of this, once DecisionLogic’s clients feel the advantages of realtime reporting that is financial will not go back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed with other effective areas of DecisionLogic’s business model which have resulted in surpassing the 10 million customer milestone:

• Consumer engagement is important and incredibly high with nearly all of DecisionLogic’s lenders.

• DecisionLogic increases lead-to-loan ratios by up to 500 per cent since the technology permits you aren’t online access including a smartphone to confirm their income that is fast anywhere, as well as for such a thing.

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

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

• DecisionLogic was profitable for pretty much 5 years and it is completely self-funded. The DecisionLogic objective is always to develop a really customer-friendly company that genuinely solves problems and delivers a service that companies develop to rely upon.

Bart Miller, among the country’s leading authorities on sub-prime financing 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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