Teledata Communications, Inc. (TCI), the provider of DecisionLender 4 (DL4), a consumer loan origination platform, today announced it ended 2019 with its strongest year-to-date results to date including the addition of 44 new clients, enhancements to its DL4 platform including a new deposit account opening module and the introduction of the industry’s first artificial intelligence-powered (AI-powered) natural language rules engine. Additionally, the company deployed a new, streamlined onboarding process to help lenders go-live at record speeds.
2019 highlights include:
- Launched new account opening module;
- Developed new, streamlined onboarding process reducing the time-to-market;
- Developed the industry’s first AI-powered, natural language rules engine;
- Increased third-party vendor integrations by 30 percent;
- Expanded DL4 video training library by 50 percent; and
- Facilitated more than eight training classes with record client attendance.
Bill Nass, president of TCI, said, “As financial institutions continue to hone their lending operations, we are focusing on providing solutions that are comprehensive and help drive our client’s success. This year, we enhanced our offerings so we could provide the best solutions on the market by developing new innovative technologies such as artificial intelligence and machine learning, adding new partners and expanding our solution to include deposit account opening. We are proud of the long-term relationships we have maintained with our clients, as well as the growing number of new ones that are joining the TCI family. Lenders have realized that they need a flexible configurable platform so that they can adapt their lending program rapidly. We’re the only solution that enables financial institutions to exceed their yearly goals.”
In 2019, the company developed a new implementation process that increased the onboarding speed for clients; one client set a go live record of 17 days. The continued efforts to enhance the onboarding process further demonstrate TCI’s ongoing customer service commitment.
TCI expanded its DL4 video training series by 50 percent, creating more than 130 tutorial videos that can be accessed directly in DL4 or from the official TCI YouTube Channel. The videos have become a favorite tool with clients, surpassing more than 20,000 total views, and the number of views continues to rise with an average increase of 10 percent each month.
Additionally, many TCI clients completed a supplemental training class either on-site at TCI’s headquarters during one of the company’s training events, or via TCI’s virtual learning institution. TCI provides on-going training opportunities as well as onsite support and product reviews to ensure clients maximize product capabilities, adopt the most current processes and thus are positioned for success in today’s dynamic lending environment.
Corey Balcarcel was promoted in September to TCI’s Client Support Supervisor. Balcarcel’s understanding of TCI’s product line, as well as his depth of experience in the financial services industry, will prove invaluable to supporting TCI’s client base. He can be reached at (800) 841-9950 ext. 148.
On the product side, TCI offered a new DL4 add-on; deposit account opening which streamlines the account opening experience and provides the convenience of 24/7 accessibility that borrowers expect.The deposit account opening module offers fully configurable workflow, auto-filled applications, automated approvals and a “save-progress” function enabling customers to start and restart applications from any location or device at any time. In early 2020, TCI will be adding additional account types such as retirement, business, trust, estate and more.
TCI recently announced that it has incorporated artificial intelligence (AI) and machine learning (ML) into DecisionLender 4. With this technology, DL4 users can quickly and easily create and maintain risk-based rules and lending policies in plain English using Natural Language Understanding (NLU), without any special assistance or training. NLU users can modify or create rules, and then test them using Test-It, a searchable database of 360,000 use-cases, that is necessary to verify and test each new rule. Users can compare these new rules against the old rules using the DL4 champion challenger in their test site before deploying the new lending model to a live production DL4 site. DecisionLender 4 gives you the tools necessary to build a new lending model in plain English in a demo site, test the model with Test-It, do AB comparisons with champion challenger, then once the model is perfected, push it to a live production site all without developer resources or coding.
TCI continues to grow its partnerships, providing clients the ability to integrate with an array of different solutions. This year, the company partnered with more than 30 new third-party providers to help clients successfully integrate with fraud prevention tools, verification data sources, vehicle valuation sources, esignature providers, and many more.
Nass said, “TCI surpassed its goals in every department. Without our dedicated staff, none of this would have been possible. 2020 will be an exciting year not only for TCI, but for our clients as well. We appreciate the confidence our clients have placed in us to provide the tools necessary for lenders to succeed in 2020 and beyond.”
About Teledata Communications, Inc.
Founded in 1982, Teledata Communications, Inc (TCI) is the provider of DecisionLender 4, a consumer loan origination platform (LOS). DecisionLender 4 is completely configurable, cloud-based, supports branch, online lending, indirect auto and merchant lending, deposit account opening and cross sell. The robust decisioning engine is the most versatile on the market, enabling manual or automated workflows. With over 130+ different 3rd party integrations ranging from alternative data sources, to fraud protection, to esignature and more, DecisionLender 4 truly empowers you to do business YOUR WAY! www.tcicredit.com