Third Party Integration with DataX

DataX is an alternative data provider offering premier financial management solutions to lenders through a suite of advanced products focused on mitigating risk. It provides a comprehensive suite of real-time credit reporting, data verification, and authentication services that benefit financial service providers

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SparkLMS integrates with the best breed of third-party solutions in the Lending Eco-system to run a lending portfolio easily and profitably. DataX + SparkLMS integration will allow lenders to score their leads in real-time to mitigate risk and to make informed decisions prior to lending a customer.

What it does

With this integration, lenders will be able to

• A complete multi-dimensional view of your customer
• Crucial intelligence to identify high, moderate, and low risk consumers
• Valuable insight on thin file and no file consumers
• Identify verification of a customer
• Assess credit worthiness of a customer
• Obtain Risk assessment and score
• Perform Bank Account Verification
• Isolate Fraudulent Activity to gain insight on customers

Benefits

• Prevent fraudulent applicants
• Ability to approve more while spending less
• Lower consumer acquisition costs
• Flexibility and customization options
• Real-time decisioning to maximize performance

Pre-requisites

After on-boarding your lending portfolio on SparkLMS, you must set-up an account with DataX. We will guide you through the entire process of setting-up Clarity in your instance of SparkLMS.