OnDeck Selects Digital Matrix Systems Data Access Point™
ADDISON, Texas (December 11, 2018) – Digital Matrix Systems, Inc. (DMS), today announced that OnDeck has selected the company’s Data Access Point™ solution to pull data. OnDeck is the largest online small business lender in the United States and offers short and long-term financing options that help small business owners grow their businesses. OnDeck will leverage Data Access Point™ as the connectivity engine that provides critical data in support of their lending decision process.
Data Access Point™ 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. Data Access Point™ also acts as an interface between multiple lines of business, loan origination systems, and external data sources. Connectivity via DMS reduces the client’s need to dedicate resource time and expense to keep up with ongoing credit bureau changes.
In addition to Data Access Point™, OnDeck will leverage CreditBrowser®, a web-based data access tool that enables report access via standard Internet browsers, to pull credit and underwrite for their customers. Credit reports are delivered in a proprietary, easy-to-read format that reduces errors and improves readability of critical information.
“Digital Matrix Systems has a great suite of data access platforms that we’re excited to leverage,” said Nick Brown, Chief Risk Officer at OnDeck. “We’ve enjoyed working with the DMS team and look forward to continuing to grow our relationship.”
“We are very pleased to announce our relationship with OnDeck,” said David McGough, Chief Executive Officer of Digital Matrix Systems. “They hit a big milestone this year passing the $10 billion dollar mark in originations. We’re happy to be able to help support them in their continued growth.”
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.