LAS VEGAS, Oct. 3, 2011 /PRNewswire/ -- Today, DataX [www.DataXLtd.com], the industry-leading real-time credit reporting agency and data verification provider, announced the launch of a new service, Quality Assurance Audit and Report Card. Boasting more robust tradeline details than any other non-prime credit bureau agency, DataX utilizes over 270 highly predictive decision-able elements to accurately reflect consumer behavior and credit data.
"Good predictability comes from clean and accurate data that properly reflects consumer behavior. We know that with accurate readings of recognized consumer behavior patterns, we can help our clients discern low risk consumers versus high risk consumers," said Nanette Leonard, Executive Vice President at DataX. "With that, we are proud to introduce a first to the specialty consumer finance industry, the DataX Quality Assurance Audit and Report Card."
The quality and precision of DataX's consumer credit data is vital to the lending industry. Reporting issues adversely affect the consumer's credit profile, underwriting rules and may violate Fair Credit Reporting Act (FCRA) guidelines. Additionally, inaccurate or incomplete data misrepresents a consumer's risk profile and can cause lenders to make incorrect, and often costly, lending decisions. DataX recognized the need to implement a service that will continually monitor and refine the credit data. This ongoing audit service reviews each lender's reported consumer tradeline data to ensure it is complete and conclusive. Regular reviews on consumer data will be conducted to identify and summarize any report gaps. If delinquent results transpire, the service will provide specified attainable solutions.
Throughout the audit process, The Quality Assurance Audit and Report Card focuses on four key areas: active loans over one year old; active loans less than a year old; loans that are missing transactions (credit, debit or both) and consumers with multiple open loans.
"No one in the industry can match our performance tradeline detail and real-time accuracy. Our Quality Assurance Audit and Report Card continues our mission to provide credit reporting excellence. We are taking specific steps to provide the most accurate, predictive and timely consumer behavioral information in the industry," said Leonard.
About DataX Ltd.
DataX, Ltd., a Selling Source, LLC company, specializes in developing industry leading risk analytics focused on positive decisioning. With the most advanced Credit Reporting bureau in the market, the DataX approach to fraud and risk management solutions goes beyond any other. Armed with this data intelligence, lenders can boost profitability through smarter decisions. For more information, visit www.DataXLtd.com.
About Selling Source, LLC
Selling Source, one of the largest privately-held digital marketing companies in the United States, provides customer acquisition and data services. The company operates proprietary, scalable technology platforms to cost effectively deliver a substantial volume of precisely targeted, real-time sales leads while maximizing return on investment for advertisers and publishers. Continually expanding its broad online reach via an array of diverse branded web properties, as well as through external partner relationships, the company attracted over 550 million visitors to its branded web properties in 2010. Selling Source has a strong, varied client base and specializes in two key verticals: Consumer Specialty Finance and Performance-based Marketing.
London Bay Capital, a private equity firm based in San Francisco, acquired a controlling interest in Selling Source in December 2007. For more information, please visit www.SellingSource.com.
SOURCE DataX Ltd.