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 frontrunner in bank verification, has established so it has surpassed the 10 million customer mark. DecisionLogic’s customers consist of vendor loan providers, home loans, real-estate agents, payday and money installment loan providers, merchants, customer finance businesses and banking institutions in Australia, Canada, uk, united states of america and brand brand brand New Zealand nearest avant loans.

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 online and in real-time. Past options for doing this method created many dilemmas for the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology with an objective to boost asset verification for both the customer and service that is financial, enhancing the monetary industry all together and producing possibilities for a big percentage of the populace to gain access to economic assets which is often so critically crucial that you their well-being.

“DecisionLogic’s fresh, realtime transactional information leads just how since the monetary industry learns to maneuver beyond the traditional ‘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 individuals provides insight into a borrower’s financial profile that reports current real-time banking history, work and investing. FinTech should democratize the consumer’s role when you look at the industry that is financial. In place of counting on a credit file that may penalize a debtor for a belated bank card 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 section of their life, likewise online asset verification became conventional — it is not only very early adopters making united statese of us today. Because of this, as soon as DecisionLogic’s clients go through the advantages of realtime economic reporting they will not go back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed with other effective facets of DecisionLogic’s business model that have generated surpassing the 10 million customer milestone:

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

• DecisionLogic increases lead-to-loan ratios by up to 500 % due to the fact technology enables you aren’t online access including a smartphone to confirm their income fast — from anywhere, as well as such a thing.

• DecisionLogic is embedded in lender those sites allowing integration that is seamless 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 % contrasted to subprime credit reporting agencies.

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

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

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