US-based credit risk management firm GDS Link has rolled out a new solution, dubbed Modellica Engage, to support the online digital lending services of banks.
According to a 2018 Morningstar report, the loans sourced by marketplace lenders has increased from 5% to 38% in the past five years, affecting banks and credit unions.
GDS said that its Modellica Engage is an advanced loan origination and customer engagement solution that provides a pre-screen engine, enabling the banks to provide offers to their customers through direct marketing, or when the customers are shopping online.
GDS Link ‘s Modellica Engage offers improved end-to-end origination experience to borrower
The new solution is designed to provide an enhanced end-to-end origination experience to the borrower through docs and e-sign, after choosing an offer from bank.
The company said that its new product offering will easily incorporate high performance models, third-party data integrations, manual underwriting workflow and eDocs.
GDS Link is an international credit risk management company that provides customised software solutions, analytical and consulting services.
The company claims that its risk management and process-automation platforms are designed for the modern lender who look to capitalize on the entire credit lifecycle.
GDS Link CEO Paul Greenwood said: “We are excited to add this solution to the GDS Link portfolio. This is about helping banks and credit unions establish a strong presence where borrowers are actually going online.
“Modellica Engage helps level the playing field for banks, enabling them to engage with new prime borrowers in new places, make competitive offers and provide the right digital experiences. All of this can be accomplished in a short timeframe without overhauling banks’ existing systems.”