DecisionLogic Surpasses 10 Million Customer Mark

DecisionLogic Surpasses 10 Million Customer Mark

San Diego Business Guides Customer Finance Business with Realtime 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 clients consist of vendor lenders, lenders, property agents, payday and money installment loan providers, stores, customer finance businesses and banking institutions in Australia, Canada, great britain, united states of america and brand brand New Zealand.

DecisionLogic can be a higher level bank verification Software-as-a-Service (SaaS) platform allowing loan providers to immediately validate a possible borrower’s banking information on the internet plus in real-time. Past options for doing this technique created many dilemmas for the lender and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology having a objective to enhance asset verification for both the customer and service that is financial, enhancing the economic industry all together and producing possibilities for a sizable part of the people to get into economic assets and that can be therefore critically vital that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads the way in which given that monetary industry learns to maneuver beyond the original checksmart loans review ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easy method to retake ownership of their‘report that is financial card’. Customers and loan providers appreciate we can offer insight into a borrower’s profile that is financial reports current realtime banking history, employment and investing. FinTech should democratize the consumer’s role in the industry that is financial. In place of counting on a credit file which may penalize a debtor for a belated charge card re re payment from five years ago, loan providers desire 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 — it is not merely very early adopters making united statese of us today. Because of this, as soon as DecisionLogic’s clients go through the advantages of real-time economic reporting they will not come back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed to many other effective areas 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 DecisionLogic’s lenders.

• DecisionLogic increases lead-to-loan ratios by up to 500 % due to the fact technology enables a person with online access including a smartphone to validate their income that is fast anywhere, as well as for anything.

• DecisionLogic is embedded in loan provider those sites allowing seamless integration with applicant workflow on line 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 bureaus.

• DecisionLogic was profitable for almost 5 years and it is totally self-funded. The DecisionLogic objective would be to develop a business that is truly customer-friendly 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 financing and CEO of Centrinex, states, “We’ve been making use of DecisionLogic across a quantity of portfolios for quite a while – DecisionLogic may be the industry standard for electronic bank verification.”