With increased demand for digital lending and auto loan fraud a growing concern, new partnership comes at critical time for industry. - IMAGE: Lightico.com

With increased demand for digital lending and auto loan fraud a growing concern, new partnership comes at critical time for industry.

IMAGE: Lightico.com

NEW YORKLightico, a leader of next-generation digital customer interactions, announced its partnership with TruDecision, a provider of sophisticated lender tools through a first-of-its-kind Analytic Platform as a service. The partnership brings Lightico’s seamless, cost-effective contracting and TruDecision’s income validation and credit optimization tools to auto lenders, helping them minimize risk and maximize efficiency.  The platform promises lenders an effective solution to their digitization gaps with a significant ROI that can be rapidly and seamless deployed without requiring significant capital expenditure.

Lenders can only move so much on price to stay competitive.  They must become more efficient in terms of speed, service-levels and operating expense in order to increase yield and volume. 

“The auto lending market is set to become far more competitive in the coming year”, said Daniel Parry, CEO of TruDecision.  “Lenders can only move so much on price to stay competitive.  They must become more efficient in terms of speed, service-levels and operating expense in order to increase yield and volume.  This is why a digital end-to-end process in originations is an imperative.”  

TruDecision is transforming the lending market by delivering cutting-edge tools and decision customization on a subscription basis, making analytic sophistication accessible to lenders of any size.  The company’s income validation, credit scoring, price optimization and servicing models are a natural extension to Lightico’s front-end platform.

Lightico equips auto lenders with an easily customizable and mobile-first platform that integrates seamlessly into existing workflows and can complete entire customer journeys from simply and in real-time. Lightico creates a virtual collaboration window between the business and their client who can then share and receive documents, and process eSignatures, payments, identification and verification (ID&V) and more in a secure, easy environment. Lightico’s technology has already been implemented in leading auto lenders, banks, insurance companies, telcos and more to decrease turnaround time and increase customer satisfaction. “Digitizing auto lending provides massive benefits both to lenders and to consumers - and it is a requirement to stay competitive today,” said Zviki Ben Ishay, CEO of Lightico. “A critical aspect of that, however, is staying compliant, reducing fraud and risk in a fast, seamless way. By bringing together Lightico’s and Trudecision’s technology together, consumers will have an excellent experience, lenders will become more efficient and risk will be kept to a minimum.”

Lightico and Trudecision will be hosting the Auto Finance Innovators Summit on March 31st. To register, please click here.

READ: Black Book Partners with Your Auto Advocate

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