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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 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 lenders, stores, customer finance organizations and finance institutions in Australia, Canada, great britain, united states of america and brand brand New Zealand.

DecisionLogic is a higher level bank verification Software-as-a-Service (SaaS) platform allowing loan providers to immediately validate a possible borrower’s banking information online plus in real-time. Previous means of doing this technique created many dilemmas for the loan provider and debtor, including inconvenience, delay, inaccuracy and fraudulence. DecisionLogic originated this technology with an objective to enhance asset verification for the customer and monetary company, enhancing the monetary industry in general and producing possibilities for a big percentage of the people to get into economic assets which are often therefore critically crucial that you their wellbeing.

“DecisionLogic’s fresh, real-time transactional information leads the way in which whilst 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 monetary ‘report card’. Customers and loan providers appreciate that individuals provides understanding of a borrower’s profile that is financial reports recent realtime banking history, work and investing. FinTech should democratize the consumer’s role into the economic industry. As opposed to counting on a credit file that may penalize a borrower for the belated charge card payment from 5 years ago, loan providers would you like 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 more each year, electronic banking happens to be a convenient, normal element of their life, 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 feel 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 components of DecisionLogic’s business model which have resulted in surpassing the 10 million customer milestone:

• Consumer engagement is crucial and very high with nearly all of DecisionLogic’s lenders.

• DecisionLogic increases lead-to-loan ratios by up to 500 % while the technology enables a person with online access including a smartphone to validate their income that is fast 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 is lucrative for pretty much 5 years and it is totally self-funded. The cashland loans customer service DecisionLogic mission 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, among the country’s leading authorities on sub-prime financing and CEO of Centrinex, states, “We’ve been utilizing DecisionLogic across an amount of portfolios for a long time – DecisionLogic may be the industry standard for electronic bank verification.”