Jacksonville, FL and Princeton, NJ: LAUNCHER.SOLUTIONS (Launcher), a technology provider specializing in sub-prime automotive loan originations, announced today a strategic integration partnership with Creative Business Decisions (CBD) helping auto lenders make better lending decisions with the utilization of generic or custom developed scorecard created by CBD. CBD scorecards combine data from a bureau report with application data (demographic data) yielding a more complete credit score with which lenders use to make appropriate lending decisions.
Launcher’s loan origination system, appTRAKER LOS, was designed by subprime experts in the automotive lending industry, so credit risk management is understood to be especially important in the subprime realm of lending. Nikh Nath, president of Launcher, said “We chose to integrate with CBD because of their reputation and achievements in the credit risk management arena. CBD will give lenders using appTRAKER LOS the ability to evaluate hundreds of data points, assessing risk in a more thorough manner than by a credit report alone.” To quote Pat Nanda, CEO of CBD, “Our integration with appTRAKER LOS was quick and effective, and will benefit our mutual clients. We have been able to address issues pertaining to ‘insignificant’ bureau data and create models, screens, and rules that have helped clients gain confidence in their venture of targeting applicants with ‘marginal’ credit.”
For clients of Launcher, the option to use the CBD scorecard will enhance their risk management abilities. Lenders using appTRAKER LOS are able to access 700 bureau variables to create their lending rules and policies. CBD can also create custom scorecards using client data to generate appropriate and accurate lending decisions. Lenders will have the probability of default for the CBD score obtained for each applicant, which will allow them to set risk tiers and loan programs. appTRAKER loan origination system will clearly display the score for each applicant during the underwriting and verifications processes, allowing lenders to make better decisions on a deal from cradle to grave.
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 www.launcher.solutions. Follow us on LinkedIn at https://www.linkedin.com/company/launcher.solutions.
About CBD: CBD develops statistical models with applications in the areas of new account evaluation, tracking the paying/charging behavior of existing accounts, prioritization of collection activities for seriously delinquent accounts, and solicitation models to better target marketing activities. These models are developed using information from a credit bureau report and from information obtained from the demographic data of applicants. The models are then deployed in a software that is either hosted as a web service or provided to any Loan Origination Software. With these CBD services, their clients have consistently grown their portfolios and their ROI in a shor span of time. Visit CBD at www.cbdcredit.com
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