DecisionLogic Surpasses 10 Million Customer Mark

San Diego Business Leads 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 loan providers, home loans, real-estate agents, payday and money installment loan providers, merchants, consumer finance businesses and banking institutions in Australia, Canada, uk, united states of america and brand brand New Zealand.

DecisionLogic is a bank that is advanced Software-as-a-Service (SaaS) platform allowing loan providers to immediately confirm a possible borrower’s banking information on the internet and in real-time. Past options for doing this method created many dilemmas for the lender and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology with a objective to enhance asset verification for the customer and service that is financial, enhancing the monetary industry all together and producing possibilities for a big percentage of the populace to get into economic assets and that can be so critically crucial that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional data leads just how whilst the monetary 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‘report that is financial card’. Consumers and loan providers appreciate that individuals can offer understanding of a borrower’s financial profile that reports current real-time banking history, work and investing. FinTech should democratize the consumer’s role within the industry that is financial. In place of counting on a credit history that may penalize a debtor for the belated bank card re re payment from 5 years ago, loan providers like to look at the borrower’s up-to-the-minute financial situation – whether the debtor is a person or business.”

“As consumers worldwide move online more and more every year, electronic banking happens to be a convenient, normal section of their everyday lives, likewise online asset verification has grown to become conventional us today— it’s not just early adopters using. 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 amscot loans loans DecisionLogic’s business model which have resulted in surpassing the 10 million consumer milestone:

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

• DecisionLogic increases lead-to-loan ratios by up to 500 % once the technology permits 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 loan provider those sites allowing integration that is seamless 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 rates by 40 per cent contrasted to subprime credit reporting agencies.

• DecisionLogic was lucrative for pretty much 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 utilizing DecisionLogic across an amount of portfolios for quite some time – DecisionLogic may be the industry standard for electronic bank verification.”