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LAUNCHER.SOLUTIONS and Neo Partner to Offer Auto Lenders Comprehensive Loan Scoring Algorithms
  • USA - English

LAUNCHER.SOLUTIONS' appTRAKER Loan Origination System integrates with Neo to offer a custom scoring model for credit unions and financial institutions.


News provided by

LAUNCHER.SOLUTIONS

Jul 21, 2020, 11:00 ET

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JACKSONVILLE, Fla., July 21, 2020 /PRNewswire-PRWeb/ -- LAUNCHER.SOLUTIONS (Launcher), a technology provider specializing in automotive loan originations, has announced their integration partnership with Neo to help auto lenders build a stronger portfolio and make smarter sales via Neo's highly customized and comprehensive loan scoring algorithms.

Launcher's loan origination system, appTRAKER LOS, was designed by subprime experts in the automotive lending industry, with credit risk management at its core. Nikh Nath, president of Launcher, stated, "The use of artificial intelligence is transforming the loan origination process by improving risk and fraud detection, especially in light of the current pandemic and resulting economic uncertainties. Our top priority has always been to connect our lenders with the best tools to improve their business processes and workflows such as the Neo scorecard."

For clients of Launcher, the ability to utilize the Neo's scoring system will improve their risk management abilities with Neo's A.I. based products. Lenders using appTRAKER LOS can use Neo to access a nearly endless number of attributes spanning customer stability, financial health, credit bureau, loan terms, purchase vehicle and more in real-time to provide a score for a loan. Our lenders may choose to let the appTRAKER LOS automate the decision-making process by utilizing the score or simply customize how its presented to the underwriter; in either case allowing then to make better and faster decisions on a deal. Neo's unique approach enables auto lenders to approve even the toughest deals by providing not only a score, but also by specifying what down payment, loan terms, monthly payment etc., will make the deal approvable based on the lender's historical data.

About LAUNCHER.SOLUTIONS: LAUNCHER.SOLUTIONS is a technology products and services company built on the foundation of care, understanding, innovation, and speed. It specializes in loan originations for subprime/nearprime automotive lending institutions, regional banks, financial institutions, and credit unions. Its product offerings include appTRAKER LOS for indirect automotive lending as well as consumer direct lending and leasing, myDEALER.CARE dealer relationship management system, and myACCOUNT.CARE customer self-service and communication solution. LAUNCHER.SOLUTIONS has service offerings aimed at helping its clients with projects related to data analytics, data integration, telephony and custom web development. Learn more at http://www.launcher.solutions or call 877.5LNCHER. Follow LAUNCHER.SOLUTIONS on LinkedIn at https://www.linkedin.com/company/launcher.solutions.

About Neo: Neo leverages Data and Machine Learning to build a sophisticated custom scoring model for a subprime auto lender based on the lender's historic data. The scoring model enables the lender to approve the right vehicle and loan terms for a new customer. Neo's proven scoring methodology ensures that customers perform on their loans, thus increasing lender profitability by millions of dollars. Also, Neo's unique approach enables an auto lender to approve even the toughest of applications. On such applications, in addition to providing a score, Neo also specifies what downpayment, discount, loan term, monthly payment, etc. will make the application approvable, all based on the lender's historic data.

SOURCE LAUNCHER.SOLUTIONS

Related Links

http://www.launcher.solutions

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