Grapevine, Texas (09/11/15) defi SOLUTIONS, the leading browser-based Loan Origination System (LOS), announced today that they are now seamlessly integrated with Clarity Services, Inc., a leader in real-time non-prime alternative consumer data. This new partnership will give defi’s customers new access to alternative financial services transactions not reported by traditional credit bureaus, providing a more complete view of an applicant’s financial picture.
“defi believes that offering lenders access to relevant and useful lending data and tools will improve results for consumers and lenders, adding Clarity to the defi’s integrated data offering further expands our lenders’ ability to make better, faster and smarter credit decisions” Georgine Muntz, defi SOLUTIONS CFO and Strategy leader.
Clarity’s innovative products have been helping subprime finance companies optimize lending decisions in other lending verticals since 2008 and more recently began helping auto lenders leverage their offering. One recent data study with a national auto finance company demonstrated that consumers that utilize alternative financial services defaulted over four times more often than those that did not. The Clarity product delivered via the defi LOS offers lenders easy access to this important data at the point of decisioning.
Another recent compelling study showed that introducing Clarity’s data into the underwriting process helped one regional subprime auto lender reduce charge-offs by forty-two percent.
“Auto finance companies utilize Clarity data to enhance their existing underwriting frameworks, enabling them to more precisely assess risk and optimize their approve-decline and risk-based pricing strategies,” said George Coutros, Chief Analytics Officer at Clarity.
About Clarity
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for the non-prime and thin/no file consumer segment. By leveraging unique data assets and scores, Clarity Services’ suite of FCRA regulated reports and scores empower providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit clarityservices.com
About defi SOLUTIONS
defi SOLUTIONS provides the only leading edge, browser-based loan origination system (LOS) that is completely configurable by lenders. The defi system allows auto lenders to manage the application lifecycle from a single, highly flexible platform. The defi LOS is affordable, scalable and easily accessible from mobile devices. To schedule a demo of the defi SOLUTIONS system, visit defi SOLUTIONS online at https://defisolutions.com.
