SOURCE: DataX Ltd.

DataX Ltd.

August 11, 2009 09:05 ET

DataX, eCash Software Integrated Services Offer Lenders End-to-End Management Tools

LAS VEGAS, NV--(Marketwire - August 11, 2009) - DataX Ltd., the leader in real-time verification services and credit reporting for the underserved market, announced today that Brandon, Miss.-based eCash Software Systems Inc. has begun offering clients advanced DataX financial services integrated with its own sophisticated software management tools.

eCash Software provides a complete Web-based management solution for payday advance, check cashing, title loan and installment loan companies. Products derived from this relationship supply online as well as brick-and-mortar lenders with turnkey solutions for managing consumer portfolios through acquisition, identity, credit-risk profiling and loan processing.

eCash Software Chief Executive Officer Scott Putnam hailed the product integration as a major step forward for his company. "Together, DataX and eCash Software elevate loan management to new heights by creating a comprehensive loan-processing system and data repository in a single access point," Putnam said.

An FCRA-compliant credit reporting agency, DataX works with eCash Software to engineer lender underwriting requirements in the online world and also facilitates performance reporting for new and established consumer loan life cycles from start to finish.

Updated in real time, this deep-seated reporting process yields proprietary ACH transaction-level data and credit-header information on more than 3 million unique consumers.

According to Michael Pooley, DataX executive vice president, the company's credit reporting agency provides a vital new service. "eCash Software System customers who have access to the DataX CRA benefit from greater business intelligence and real-time analytics critical to figuring out who good customers are while separating out poor performers and fraudsters," Pooley said.

Lender call centers can now access a licensed CRM and loan management platform, process inbound consumer payday loan inquiries, and work through underwriting using a combination of automated and manual verification strategies with the click of a button.

When registered good customers return, eCash Software can re-run specific business logic to determine which verification services are required to expedite loan processing. When bad customers arrive, eCash can leverage DataX business intelligence to build up suppression lists for bad employer names, phone numbers, consumers and ABA numbers to drive to down unprofitable acquisition costs and shield lenders from risk.

While use of the DataX suite of services is an option for lenders looking to purchase licenses to use the loan management platform, eCash strongly recommends using DataX identity verification, bank account validation and credit reporting agency together in order to simplify and automate the loan processing cycle to the greatest extent possible.

Joshua Davis, vice president of operations for Cleveland, Tenn.-based Approved Cash Advance -- one the nation's largest payday lenders with more than 220 stores in eight states serving customers from Oklahoma to South Carolina and Michigan to Mississippi -- said his company is using DataX and eCash Software integrated services to expand operations onto the Internet.

"DataX and eCash have by far the knowledge base and project-management skills to help us make our new venture in the online world a great success. I believe their systemization, market share and analytics within the products they offer are superior in this space. We look forward to a long productive relationship with them in the future," Davis said.

About eCash Software Systems Inc.

eCash Software Systems Inc., the emerging leader in Web-based solutions for payday advance, check cashing, title loan and installment loan companies, now offers a comprehensive Internet loan model, a superior software product for the financial services industry. eCash Software System's architecture was developed to meet industry demand for a complete and affordable software option. Designed by a seasoned team of industry professionals that understands the challenges of today's environment, the eCash software solution provides the essential management tools to make companies operationally efficient and more successful. eCash offers users easy access from any computer to real-time, detailed information regarding their businesses. eCash software includes a proven successful collections module, unsurpassed back-office reporting system, exceptional customer support, Veritec interface and an automated ACH interface along with many other dynamic and innovative solutions. For more information, please visit www.ecashsoftware.com.

About DataX Ltd.

DataX Ltd., a Selling Source LLC company, provides real-time credit reporting, consumer data verification and analytic services to the business and financial services industry and operates a comprehensive FCRA-compliant consumer credit reporting agency. Only DataX's CRA has transaction-based payment detail, a unique feature allowing lenders to see each consumer's daily funding and detailed payment activities in real-time to reduce defaults by predicting loan performance.

About Selling Source LLC

Selling Source LLC, named No. 68 on the 2008 Inc. 500 list, up from No. 109 in 2007, offers specialty finance lenders an end-to-end solution to acquire, fund, underwrite and retain customers while increasing their overall lifetime value. Selling Source alone provides online lenders a single-source platform throughout the micro-loan life-cycle with turn-key consumer acquisition-and-communication services as well as lender, data, payment-processing and infrastructure solutions, including co-location and disaster-recovery hot sites. London Bay Capital, a private equity firm based in San Francisco, acquired a controlling interest in Selling Source in December 2007. For more information, please visit http://www.sellingsource.com/.

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