Today, DataX, the industry-leading real-time credit reporting agency and data-verification provider, and TranDotCom, a leader in automated short-term loan transaction processing, announced a partnership that will offer real-time decision-making support services through the industry's leading loan management software for short-term financial solutions.
"DataX is pleased to have partnered with TranDotCom, whose commitment to the needs of the consumer finance industry is unparalleled. This partnership leverages the synergy between our companies and allows TranDotCom's clients to obtain superior risk management solutions through the market leading loan-management system," said Nanette Leonard, Executive Vice President of Business Development at DataX.
DataX, FCRA-compliant credit reporting agency, specializes in developing industry leading risk analytics focused on the non-prime consumer. By leveraging the most advanced credit reporting in the market, its proven approach to fraud and risk management solutions extends well beyond any other resource. DataX provides a comprehensive suite of real-time credit reporting, data verification and authentication services that benefit financial institutions and private equity lenders.
Through this joint venture, lenders are able to deploy and manage underwriting strategies configured to isolate and reject high-risk consumers and potential fraudsters while simultaneously identifying the most profitable borrowers.
"Our partnership with DataX provides ample opportunities to better refine the industry's lending protocol," said Joe Fitzpatrick, CEO and Founder of TranDotCom. "Joining forces will undoubtedly deliver the technology solutions the creditors and financial institutions are looking for when trying to lower lending risk and increase profitability."
TranDotCom has been providing software solutions for the consumer finance industry since 2000. Its Loan Management System is a highly flexible web-based software solution that provides the tools needed to operate a successful consumer finance lending business. Further, TranDotCom recently announced its new Line of Credit product and enhanced Installment solution that enables lenders to offer a more flexible loan product that will appeal to a large group of consumers.