FPN's Loan Prequalification Solutions Capture the Attention of the Lending Industry

Lenders can now easily access tri-bureau data from a single source without impacting a consumer's credit score

AVENTURA, Fla., Sept. 13, 2022 /PRNewswire/ -- Fraud Protection Network, FPN, a leading provider of data-driven solutions is now offering PreQual, a tri-bureau loan prequalification solution to lenders across all industries in the U.S. PreQual's fully customizable solutions pull data from Experian^®, TransUnion^® and Equifax^®, to provide an efficient customer experience of prequalifying applicants without impacting their credit score.

Lenders can now efficiently and confidently produce a variety of offers with greater speed. Utilizing FPN's expanded soft-inquiry solutions, lenders can generate instant and accurate results—including FICO^® and VantageScore^® credit scores.

To stay competitive in today's changing market, lenders are leveraging loan prequalification to attract consumers looking for:

• A Faster Loan Application Process
• Instant Offers Available 24/7
• No Impact to Their Credit Score
• A Credit Score and Tier

FPN's PreQual solutions answer the need for quick soft inquiries while lowering acquisition costs.

"Studies show most consumers move forward with the first lender they submit their application to, which makes it more important than ever for lenders to produce offers quickly. Our software makes it easy to pull data from all three bureaus, select qualifying criteria and submit offers instantly, whether online, in person or over the phone," said Ryan Moore, COO of FPN.

FPN's tailored solutions are easily integrated into current software systems without disrupting workflows. Partners may choose between simple iframes or more sophisticated API integrations to provide insight across the entire customer lifecycle. PreQual can be implemented as a stand-alone product or as part of an overall strategy that could include other solutions such as FPN's Prescreen and Account Review solutions, which utilize a different permissible purpose than the prequalification product.

To learn more about their tri-bureau data solutions, FPN recommends scheduling a demo by clicking here.

Founded in 2012, FPN is a leading provider of customizable data intelligence solutions with a focus on developing long-term, mutually beneficial partnerships. From simple to sophisticated, the FinTech company's data-driven solutions help businesses streamline their customer lifecycle while meeting the growing demands of their marketplace. In early 2022, FPN's direct-to-consumer business channel, including Resident-Link^®, was acquired by IDIQ^®, one of the fastest-growing industry leaders in identity theft protection and credit report monitoring.

FICO^® is a registered trademark of Fair Isaac Corporation. VantageScore^® is a registered trademark of VantageScore Solutions, LLC. Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian.

SOURCE FPN