Jacksonville, FL: Subprime auto lenders require the ability to asses the risk of a potential deal using multiple factors, because often a credit bureau doesn’t provide enough data to make a smart decision. Today, LAUNCHER.SOLUTIONS (“Launcher”), a technology provider specializing in sub-prime automotive loan originations, and AccountScore, a global analytics firm, announced an integration of Launcher’s appTRAKER Loan Origination System with AccountScore’s Verify solution.
The idea behind these integrations is to give Lenders access to as much data as possible on the applicant in order to make the most informed decisions
AppTRAKER is a fully configurable origination platform that was created by Launcher’s team who all came from the subprime industry. Not only is the structure of the system ideal for the in-depth workflows of the subprime realm, but its integrations primarily focus on improving business processes for its subprime automotive lenders who use it. From vendors who provide alternative consumer data, to those who are able to verify employment information, appTRAKER focuses on improving workflows for its subprime lenders. Said Nikh Nath, President of Launcher, “The idea behind these integrations is to give Lenders access to as much data as possible on the applicant in order to make the most informed decision. AccountScore offers an avenue of obtaining data that is totally unique to appTRAKER.”
This integration with AccountScore allows lenders utilizing appTRAKER LOS to assess potential risk on an applicant in an entirely new way. Lenders are now able to verify consumers’ employment and income without contacting the employer. The AccountScore platform is a data collection and analysis tool designed to take a set of Bank Transaction line items from a source, analyze them, and return various metrics to create a comprehensive overview of a customer’s financial position. AccountScore’s Verify returns information such as employer name, salary amount, pay frequency, next expected pay date, and any associated data. Likewise, it has the ability to flag out of work benefits payments and possible loss of income. For subprime lenders, this is an ideal proof of income for applicants under consideration.
Donnie Price, Head of US Market Development for AccountScore, states that “Fully analyzed bank transaction data provides lenders with live and immediate employment and income verification. Furthermore, lenders leverage AccountScore’s analytics for predicting default risk and in many cases, for ongoing, actionable insights. We are delighted to be working with LAUNCHER SOLUTIONS.”
About LAUNCHER.SOLUTIONS: LAUNCHER.SOLUTIONS is a technology products and services company built on the foundation of care, understanding. innovation, and speed. It specializes in the subprime/nearprime automotive lending industry. Its innovative products include appTRAKER LOS, myDEALER.CARE dealer relationship management system, and myACCOUNT.CARE customer self-service and communication solution. LAUNCHER.SOLUTIONS has service offerings aimed at helping its clients with projects related to data analytics, data integration, telephony and custom web development. Learn more about LAUNCHER.SOLUTIONS at http://www.launcher.solutions or call at 877.5LNCHER. Follow us on LinkedIn at https://www.linkedin.com/company/launcher.solutions.
About AccountScore: AccountScore is an analytics firm which helps businesses obtain and understand bank transaction data with complete flexibility. The solution provides actionable insights and analytics on bank transaction data for clients who want to learn more about their customers, prospects and applicants. Where our clients already have bank transaction data we simply import the data and provide analytics through our API and dashboards. Where our clients are non-banks, or banks that want to verify and analyze their customers’ transactions from other banks, we successfully and safely manage the necessary customer journey for accessing bank data for verifying and analyzing key elements. Visit AccountScore.com to learn more.
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