Risk Analysis Information For The Canadian Lending Industry
In early 2002 MoneyMate Inc., based in Belleville Ontario, secured its status as a consumer reporting agency. MoneyMate will report on consumers that transact with Canadian Lenders on a daily basis.
MoneyMate will allow payday lenders to make better-informed decisions on whether or not to extend a loan to a consumer by evaluating, in a real time basis, information about the consumer's past transactions with similar lenders.
The value of MoneyMate will increase exponentially as more payday lenders sign up for the service and share their data in a cooperative manner. Not to mention the money you will save in bad debt.
MoneyMate currently is one of the largest Loan Software providers in Canada.
MoneyMate's initial offering includes the following services:
Software Whether you have one store or hundreds, MoneyMate is an affordable and simple Web-based management solution. Designed specifically for Lending, Check cashing, and Title loans MoneyMate allows live monitoring of all store activities.
Inquiry Data Shows a history of past inquires made by other lenders indicating that the consumer may have other advances open with other lenders.
Social Insurance Number Information Notifies you when a customer is using an invalid SIN.
Why Should You Consider Subscribing to MoneyMate?
MoneyMate is 100% Canadian. MoneyMate's goal is to provide its products and service to Canadian lenders across Canada. Undoubtedly, MoneyMate will continue to secure new clients, which will increase the value of its Canadian database. There will, undoubtedly, always be lenders that are using a different solution to service their loans and therefore, their data will not be housed in the MoneyMate system. MoneyMate's planned national reach will provide you with access to valuable information that would not otherwise be available to you.
