Lenddo’s patented score is a powerful predictor of an individual’s character or 'willingness to pay'. The LenddoScore ranges from 1 to 1000, with higher scores representing a lower propensity to default.
The LenddoScore can be deployed at the wide end of the funnel to prioritize applications or within an existing underwriting scorecard to reduce risk or approve more applications. The LenddoScore complements traditional underwriting tools, like credit scores, because it relies exclusively on non-traditional data derived from a customer’s social data and online behavior. When the LenddoScore is added to a traditional underwriting scorecard, it has been proven to better discriminate between good and bad borrowers.Download the Fact Sheet
Embedding Lenddo’s verification service into an online or mobile application process enables clients to quickly check the veracity of the information reported on the application. The Verification Service returns 'Verified', 'Not Verified' and 'Unable to Verify' results for application fields, which include name, date of birth, email address, employer, university and, if desired, mobile phone number (using SMS code for authentication). These results include up to 19 'reason codes' which offer more detail about our findings. The Verification Service has been found to be more than 99% accurate for name verification with greater than 97% coverage. Lenders use the verification results to fast track an application, reduce required documentation, or eliminate manual checks. The verification service can also be configured to include document and/or face capture via the digital camera on Android devices.Download the Fact Sheet