LendProtect, Yodlee Launch Customer Data Platform For Lenders

LendProtect UK Ltd., the underbanked consumer data provider, announced a partnership wit Yodlee Interactive for the launch of BankLogic. BankLogic is a service platform that allows lenders to find bank account information through LendProtect. The service will help lenders to access transaction details, balances, account ownership, deposits and other details that will help improve the evaluation process for borrowers seeking credit. Ideally this platform will help to reduce risk in the credit loan process.

BankLogic will allow a 90-day access for lenders to review relevant data and monitor banking behaviors.

Greg Rable, CEO of LendProtect, stated, ““The BankLogic platform provides our customers the ability to more accurately and efficiently underwrite consumer loans and provides borrowers with greater financial product choice and access to credit. The more information a lender has access to, the smarter and more effective they become. It’s exciting for us to partner with Yodlee, leveraging their robust network of access to over 12,000 financial institutions to be able to offer our customers the addition of financial transaction information integrated through BankLogic.”

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