DecisionLogic Surpasses 10 Million Customer Mark

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 customer mark. DecisionLogic’s clients include vendor loan providers, lenders, real estate agents, payday and money installment loan providers, stores, customer finance businesses and banking institutions in Australia, Canada, uk, usa and brand brand New Zealand.

DecisionLogic is a bank that is advanced Software-as-a-Service (SaaS) platform allowing lenders to immediately confirm a possible borrower’s banking information online plus in real-time. Past means of doing this procedure created many issues for the loan provider and debtor, including inconvenience, wait, inaccuracy and fraud. DecisionLogic originated this technology having an objective to enhance asset verification for both the consumer and service that is financial, enhancing the economic industry all together and producing possibilities for a big percentage of the people to get into economic assets that can be therefore critically crucial that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads just how given that economic industry learns to maneuver beyond the original ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easier way to retake ownership of their‘report that is financial card’. Customers and loan providers appreciate that individuals can offer understanding of a borrower’s profile that is financial reports current realtime 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 file that may penalize a debtor for a belated bank card 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 small company.”

“As customers worldwide move online more and more each year, electronic banking has become a convenient, normal element of their everyday lives, likewise online asset verification has grown to become main-stream us today— it’s not just early adopters using. Because of this, as soon as DecisionLogic’s clients go through the advantages of real-time financial reporting they refuse to come back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed to many other successful components of DecisionLogic’s business model which have resulted in surpassing the 10 million customer 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 per cent once the technology enables you aren’t online access including a smartphone to validate their income that is fast anywhere, and for anything.

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

• In a medical a/b test 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 500 fast cash loans app totally 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 upon.

Bart Miller, one of several country’s leading authorities on sub-prime financing and CEO of Centrinex, states, “We’ve been utilizing DecisionLogic across lots of portfolios for quite some time – DecisionLogic could be the industry standard for electronic bank verification.”

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