LendKey Selects Digital Matrix Systems Data Access Point™
Connectivity engine will support digital lending platform
LendKey Selects Digital Matrix Systems Data Access Point™ Connectivity engine will support digital lending platform
ADDISON, Texas (March 7, 2019) - Digital Matrix Systems, Inc. (DMS), today announced that LendKey has selected the company’s Data Access Point™ connectivity solution to access advanced data sources. In addition, LendKey will leverage DMS Summary Attributes™ and the DMS Credit Report Format to enhance their Insights service, the company’s proprietary predictive analytics engine. New York-based LendKey is the recognized leader in digital lending solutions and partners with hundreds of banks and credit unions to enable digital consumer lending. As LendKey currently provides traditional lenders access to education and home improvement loans, this partnership will be critical in maintaining high portfolio standards on behalf of their lending partners.
Data Access Point™ from DMS is a cutting-edge connectivity hub that links clients to key data sources with a single inquiry and delivers the data within a standard XML format. This enterprise-level solution provides centralized access to data sources that are needed throughout the customer lifecycle, with the ability to quickly and cost-effectively add additional data sources as business needs dictate. Credit reports are delivered via the easy-to-read DMS Credit Report Format, which reduces errors and improves readability of critical credit information. Connectivity via DMS reduces LendKey’s need to dedicate resource time and expense to keep up with ongoing credit bureau changes.
In addition to Data Access Point™, LendKey leverages DMS Summary Attributes™. DMS Summary Attributes™ consolidate credit information for easier analysis by application and decisioning platforms, turning redundant data into valuable information. DMS provides consistency of attributes over multiple bureaus and bureau versions, including online and archive delivery, without compromising processing speed.
“Digital Matrix Systems demonstrates a unique ability to exceed our requirements as we continue to expand our service offering,” said Michael Hawkins, SVP of Engineering at LendKey. “Their data access platform and analytic capabilities align with our technology roadmap, and their values align closely with ours.”
“We are thrilled to work with LendKey,” said Mark Dreux, Vice President of Business Development for DMS. “They reached an impressive milestone last year at $2.6 billion in loans originated through their platform. They are a great company and we’re happy to be able to help support them in their continued growth.”
About LendKey LendKey pioneered the lending-as-a-service model enabling white-labeled, digital lending solutions that help financial institutions establish a strong digital lending presence and acquire prime borrowers for a lifetime of lending. Customized solutions help hundreds of banks and credit unions manage liquidity, reduce costs, and mitigate risk. Visit lendkey.com/lend or email email@example.com for more information.
About Digital Matrix Systems, Inc. Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.