DecisionLogic Surpasses 10 Million Customer Mark

DecisionLogic Surpasses 10 Million Customer Mark

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

SAN DIEGO–( COMPANY WIRE )–DecisionLogic, a FinTech leader in bank verification, has established so it has surpassed the 10 million customer mark. DecisionLogic’s clients consist of vendor loan providers, home loans, real-estate agents, payday and money installment loan providers, stores, consumer finance organizations and finance institutions in Australia, Canada, great britain, 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 immediately confirm a potential borrower’s banking information online and in real-time. Past options for doing this technique created many issues for both the loan provider and borrower, including inconvenience, delay, inaccuracy and fraudulence. DecisionLogic originated this technology by having an objective to boost asset verification for the customer and service that is financial, enhancing the monetary industry in general and producing possibilities for a big part of the populace to get into monetary assets which may be so critically vital that you their wellbeing.

“DecisionLogic’s fresh, real-time transactional information leads the way in which while the monetary industry learns to maneuver beyond the original ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easier way to retake ownership of their monetary ‘report card’. Customers and loan providers appreciate that individuals can offer understanding of a borrower’s financial profile that reports current real-time banking history, work and investing. FinTech should democratize the consumer’s role within the monetary industry. Instead of depending on a credit file that may penalize a borrower for the belated charge card re payment from five years ago, loan providers wish to take into account 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 happens to be a convenient, normal section of their everyday lives, likewise online asset verification has grown to become main-stream — it is not only very early adopters making use of us today. Because of this, as soon as DecisionLogic’s clients go through the advantages of real-time 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 that have resulted in surpassing the 10 million consumer milestone:

• Consumer engagement is crucial and extremely high with almost all of DecisionLogic’s lenders.

• DecisionLogic increases lead-to-loan ratios by up to 500 per cent while the technology enables a person with online access including a smartphone to validate their income quick — from anywhere, as well as for any such thing.

• DecisionLogic is embedded in loan provider internet sites allowing integration that is seamless applicant workflow on the internet and through cellular devices.

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

• DecisionLogic was lucrative for pretty much 5 years and it is entirely self-funded. The DecisionLogic objective would be to create a business that is truly customer-friendly genuinely solves problems and delivers a service that companies develop to rely on.

Bart Miller, one of several country’s leading authorities on sub-prime financing and CEO of Centrinex, states, “We’ve been utilizing DecisionLogic across a wide range of portfolios for a long time – DecisionLogic could be the industry standard for electronic bank verification.”

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