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 consumer mark. DecisionLogic’s clients consist of vendor loan providers, home loans, real-estate agents, payday and cash installment loan providers, merchants, customer finance organizations and finance institutions in Australia, Canada, great britain, united states of america and brand New Zealand.

DecisionLogic can be a bank that is check into cash loans title loans advanced Software-as-a-Service (SaaS) platform allowing lenders to immediately validate a possible borrower’s banking information online plus in real-time. Past options for doing this procedure created many problems for the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology having a mission to enhance asset verification for the customer and service that is financial, enhancing the monetary industry in general and producing opportunities for a big percentage of the people to get into monetary assets which may be therefore critically vital that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads just how because the economic industry learns to go beyond the original ‘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 people can provide understanding of 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. As opposed to counting on a credit history that may penalize a debtor for a belated bank card re re payment from 5 years ago, lenders 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 more every year, electronic banking has become a convenient, normal section of their life, likewise online asset verification is main-stream — it is not merely very early adopters using us today. Because of this, as soon as DecisionLogic’s clients go through the advantages of real-time reporting that is financial 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 crucial and extremely high with nearly all of DecisionLogic’s lenders.

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

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

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

• DecisionLogic is lucrative for almost 5 years and it is completely self-funded. The DecisionLogic objective would be to build 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 making use of DecisionLogic across an amount of portfolios for quite some time – DecisionLogic could be the industry standard for electronic bank verification.”