DecisionLogic Surpasses 10 Million Customer Mark

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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 frontrunner in bank verification, has announced it has surpassed the 10 million customer mark. DecisionLogic’s clients consist of merchant lenders, home loans, property agents, view payday and money installment loan providers, merchants, customer finance businesses and banking institutions in Australia, Canada, great britain, united states of america and New Zealand.

DecisionLogic is a bank that is advanced Software-as-a-Service (SaaS) platform allowing loan providers to immediately validate a possible borrower’s banking information on the internet and in real-time. Past means of doing this procedure created many issues for both the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology by having a objective to enhance asset verification for the customer and economic company, enhancing the economic industry all together and producing possibilities for a sizable percentage of the people to gain access to monetary assets which may be therefore critically crucial that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads the way in which once 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’. 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 into the industry that is financial. As opposed to counting on a credit file that may penalize a debtor for the belated charge card re re payment from five years back, loan providers wish 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 more every year, electronic banking has become a convenient, normal element of their life, likewise online asset verification has grown to become main-stream us today— it’s not just early adopters using. Because of this, once DecisionLogic’s clients go through the advantages of realtime economic reporting they 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 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 % due to the fact technology enables a person with online access including a smartphone to confirm their income fast — from anywhere, as well as for any such thing.

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

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

• DecisionLogic is lucrative for almost 5 years and it is totally self-funded. The DecisionLogic mission is always to develop 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 could be the industry standard for electronic bank verification.”