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 it has surpassed the 10 million customer mark. DecisionLogic’s customers consist of vendor loan providers, home loans, property agents, payday and money installment loan providers, stores, customer finance businesses and banking institutions in Australia, Canada, great britain, united states of america and brand 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 plus in real-time. Past means of doing this procedure created many dilemmas for the loan provider and debtor, including inconvenience, wait, inaccuracy and fraudulence. DecisionLogic originated this technology by having an objective to boost asset verification for the customer and monetary supplier, enhancing the economic industry in general and producing possibilities for a big part of the populace to gain access to monetary assets that can easily be therefore critically crucial that you their wellbeing.

“DecisionLogic’s fresh, real-time transactional information leads just how because the economic industry learns to maneuver beyond the original ‘dinosaur’ FICO credit history,” said David Evans, president of DecisionLogic. “We give consumers an easy method to retake ownership of their economic ‘report card’. Customers and loan providers appreciate that people can offer understanding of a borrower’s financial profile that reports current realtime banking history, employment and investing. FinTech should democratize the consumer’s role within the industry that is financial. In place of counting on a credit file that may penalize a debtor for the belated bank card re re payment from 5 years ago, loan providers would you 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 every year, electronic banking has become a convenient, normal element of their everyday lives, likewise online asset verification is conventional — it is not merely very early adopters using us today. Because of this, once DecisionLogic’s clients go through the advantages of real-time reporting that is financial will not go back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed with other effective components of DecisionLogic’s business model which have resulted in surpassing the 10 million consumer 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 % while the technology enables you aren’t online access including a smartphone to confirm their income quick — from anywhere, as well as any such thing.

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

• In an a/b that is scientific of 30,000 loans, DecisionLogic technology paid down first-time standard prices 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 create 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 making use of DecisionLogic across lots of portfolios for many years – DecisionLogic could be the industry standard for electronic bank verification.”