DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1035902
ยป VISIT US ONLINE @ DSNEWS.COM 81 ing with consumer and device authentication, creating a secure, personalized, and dynamic user experience. "To stay competitive in an increasingly digital world, financial institutions know that they need to reduce unnecessary friction and poor experiences to attract and keep good consumers," said Dane Mauldin, Chief Prod- uct Officer at TransUnion. "Consumers are demanding faster ways to find offers and apply for credit when and where they need it. With Mobile Offers Now, they may text a keyword to instantly check for prequalified offers across numerous credit products, providing a path to credit through a completely digital application process." Mobile Offers Now, enabled through a strategic partnership with iLendx, LLC, is the first release within a turnkey digital-lending suite that is fully integrated with TransUnion's decision technology. ese solutions are intended to replace the traditional credit ap- plication with an intuitive workflow that takes the consumer from prequalification to funding in just minutes, with the option to deepen the relationship by offering auto, HELOC, credit card, or unsecured lending products during a single session. "is solution will enable financial institu- tions to quickly expand their digital presence and adopt new channels for attracting and retaining customers who expect technology and convenience," said Andy Ivankovich, CEO of iLendx. "Less than 10 percent of banks can originate loans digitally, and many banks face barriers to implementing their digital platform. e suite of digital-lending solutions will help financial institutions reach new demograph- ics, enter new markets, and reduce origination costs, while boosting their bottom line." New Tech Solution Aids in Lender Compliance Chicago-based global risk and information solutions provider TransUnion is partnering with EXL, an operations management and analytics company to create a turnkey current expected credit loss (CECL) solution. e new technology solution will allow lenders to comply seamlessly with the new CECL ac- counting rule. rough the partnership, TransUnion is creating a CECL Credit Loss Calculator SM to provide lenders with a turnkey solution to calculate loss forecasts in compliance with CECL. e product is an intuitive, easy-to- DS News is the leading publication dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com.