DecisionLogic Surpasses 10 Million Customer Mark

San Diego Company Guides Customer Finance Business with Real-time Electronic Transactional Data That Renders the FICO Score Obsolete

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SAN DIEGO–( COMPANY WIRE )–DecisionLogic, a FinTech frontrunner in bank verification, has announced so it has surpassed the 10 million customer mark. DecisionLogic’s clients consist of vendor loan providers, lenders, real-estate agents, payday and money installment loan providers, merchants, customer finance businesses and finance institutions in Australia, Canada, United Kingdom, usa and brand New Zealand.

DecisionLogic can be 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 procedure created many issues for both the loan provider and borrower, including inconvenience, wait, inaccuracy and fraud. DecisionLogic originated this technology by having a objective to enhance asset verification for the customer and service that is financial, enhancing the economic industry all together and creating opportunities for a big percentage of the populace to gain access to economic assets and this can be therefore critically crucial that you their wellbeing.

“DecisionLogic’s fresh, realtime transactional information leads the way in which while 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‘report that is financial card’. Customers 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 into the industry that is financial. In place of depending on a credit file that may penalize a debtor for the belated bank card re payment from five years back, loan providers 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 happens to be a convenient, normal element of their life, likewise online asset verification happens to be main-stream — it is not merely very early adopters making united statese of us today. Because of this, once DecisionLogic’s clients feel the advantages of real-time economic reporting they will not come back to outdated methods,” said Carl Fredericks, DecisionLogic CEO.

Evans and Fredericks pointed to many other effective facets of DecisionLogic’s business model which have generated surpassing the 10 million customer milestone:

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

• DecisionLogic increases lead-to-loan ratios by up to 500 percent given that technology permits a person with online access including a smartphone to validate their income quick — from anywhere, as well as for any such thing.

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

• In a clinical 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 profitable for almost 5 years and it is totally self-funded. The DecisionLogic objective would be to develop a business that is truly customer-friendly genuinely solves problems and delivers a service that companies develop to rely upon.

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