DecisionLogic Surpasses 10 Million Customer Mark

DecisionLogic Surpasses 10 Million Customer Mark

San Diego Business Leads 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 clients consist of vendor loan providers, home loans, property agents, payday and cash installment loan providers, merchants, customer finance businesses and banking institutions in Australia, Canada, great britain, united states of america and brand brand New Zealand.

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 plus in real-time. Previous options for performing this technique created many problems for both the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology by having an 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 big percentage of the populace to gain access to monetary assets that can easily be therefore critically vital that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads just how due to the fact economic industry learns to go beyond the original ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easier way to retake ownership of their economic ‘report card’. Customers and loan providers appreciate that people can offer understanding of a borrower’s profile that is financial 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. Instead of depending on a credit file which may penalize a debtor for a belated charge card re re payment from five years back, loan providers would you like 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 has become a convenient, normal element of their life, likewise online asset verification became conventional us today— it’s not just early adopters using. Because of this, as soon as DecisionLogic’s clients feel the advantages of realtime reporting that is financial will not come back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed with 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 % once the technology enables you aren’t online access including a smartphone to confirm their income quick — from anywhere, as well as for such a thing.

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

• In a clinical a/b test of 30,000 loans, DecisionLogic technology paid off first-time standard rates by 40 % contrasted to subprime credit reporting agencies.

• DecisionLogic has been lucrative for nearly 5 years and it is totally self-funded. The DecisionLogic objective is always 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 many 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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