ADDISON, Texas (September 6, 2016)
Digital Matrix Systems, Inc. (DMS) today announced that it has an easy implementation option for full support of the Military Lending Act (MLA) requirements. This support will be delivered through DMS’ web-based CreditBrowser® software, and will provide an easy path to MLA compliance without changes to existing systems.
Effective October 3, 2016, the expanded scope of the MLA will take effect, making it necessary for lenders to verify the status of MLA applicants and dependents in order to extend credit appropriately within the new terms established for this group of consumers.
CreditBrowser® essentially eliminates the challenges that MLA compliance has created for many lenders, through the ability to deliver both consumer and MLA data together via a flexible web-based interface. Lenders that wish to continue to leverage their current credit bureau versions will find the CreditBrowser® solution both easy to implement and cost-effective. CreditBrowser® provides report access via a standard Internet browser. Data is delivered in a complete, accurate and easy-to-read credit report format for the three major credit bureaus, enabling lenders to cost-effectively achieve compliance.
“DMS recognizes the challenges that ongoing regulatory changes can create for lenders,” said David Graves, DMS executive vice president. “We are pleased to help leading companies remain both competitive and compliant through enhancements to our data access product suite.”
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.
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