Payday Lending Big Data + New ODFI's and ACH Processors

Published: Tue, 03/18/14

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Sub-prime underwriting techniques have evolved dramatically
with the entrance of Silicon Valley financed lenders
"LendUp," "ZestFinance," "Wonga," and "Think Finance."
Read onlne now: [includes links to all the resources listed].
http://paydayloanindustryblog.com/payday-lending-big-data-new-odfis-and-ach-processors/

Heavy hitters like PayPal founder Peter Thiel, Douglas Merrill and
venture firms Sequoia Capital and Google Ventures are making inroads
with the 60M+ borrowers seeking payday loan styled products.

Back in 1998, when I opened my first payday loan store in
California, our only option was Teletrack. Teletrack focused on
aggregating data submitted by brick-n-mortars. If all your local
competitors used their service, Teletrack was effective for
evaluating your risks and collecting on your defaults down the road.

Today, we have CoreLogic, Clarity, DataX, Microbuilt, Factor
Trust... all providing payday loan lenders with tools to evaluate
our loan applicants and collecting our money. Add to this tool
arsenal, "Big Data."

Lenders are evaluating a borrower's Tweets, Facebook updates,
Pinterest... Read this entire piece here:
http://paydayloanindustryblog.com/payday-lending-big-data-new-odfis-and-ach-processors/

HELP!!!! If you're a lender who has been forced to sit on the sidelines
because you've "lost" access to your ACH provider, contact Jer at
702-208-6736 [jer@TrihouseConsulting.com] If you've "lost" your bank account,
contact Jer. There are new ODFI's and ACH providers ready to serve you.
To get the ball rolling quickly:
https://trihouse.wufoo.com/forms/trihouse-ach-processor-inquiry/