Digital bank leverages automated LOS platform to provide online lending channels, maintains less than one percent delinquency rate
Teledata Communications, Inc. (TCI), the provider of DecisionLender 4 (DL4), a cloud-based consumer loan origination platform, announced that San Diego-based Axos Bank has expanded its auto lending program with the addition of direct lending options, as well as boosted its indirect auto lending program with new automated decision features. Since launching TCI’s DL4 platform, the bank has added more than 700 new accounts, while maintaining a less than one percent delinquency rate.
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Axos Bank is now using TCI’s @DecisionLender for its #directlending and #indirectlending program to further automate and process loans more efficiently, while improving the consumer experience.
Axos Bank, a fully digital and technology-driven financial services company, has used DL4 for automating direct auto loans since 2018. The Bank strategically launched new direct and indirect lending capabilities in a slow, controlled manner in order to closely monitor risk and maintain low delinquency rates. According to the bank, DL4 provides sophisticated analytic tools to test decisioning rules and models. As a result, the bank has been able to grow its auto lending program without exposing the bank to new risk.
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“The initial DecisionLender 4 implementation strategy involved being very intentional in its use,” said Charles Martinez, vice president of auto lending at Axos Bank. “We did not want to have a huge amount of growth at first because we wanted to monitor our portfolio and credit model. After watching our loan volume successfully grow, our goal moving forward is to originate even more auto loans, further automate, and improve the consumer experience.”
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