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In The Know/Tranews

February 2011

REAL-TIME CREDIT REPORTING REDUCES RISK

DATAX Ltd. Joins TranDotCom Preferred Partner Program

TranDotCom Solutions has announced a strategic alliance with DataX Ltd. of Las Vegas, Nevada, welcoming the underwriting firm into the TranDotCom preferred partner program. TranDotCom now offers integration with the DataX family of credit reporting products to its clients, with its first lenders taking advantage of the alliance in December 2010. 

DataX, a Selling Source LLC company, provides a comprehensive suite of realtime credit reporting, data verification and authentication services for companies and lenders serving the non-prime market. With a specific focus on the short term lending segment, the company's services include credit reporting, identity verification, bank and credit card verification, skip tracing and related analytics solutions. The DataX detailed, real-time, transaction-based reporting allows lenders to mitigate risks, and also identify the most viable loan prospects. 

"We look for other best in class service providers with products complimenting our systems to invite into our preferred partner program, and DataX is an appropriate inclusion since they are an innovative leader in underwriting,"
according to Joseph Fitzpatrick, Founder and CEO of TranDotCom. The TranDotCom preferred partner program features eleven companies offering lead generation, receivables management, analytics platforms, call center
management, text messaging programs, identification verification, electronic transaction processing services, and credit reporting.

"We believe that the relationship we have developed with TranDotCom is one through which we can both change the markets," said Nanette Leonard, Executive Vice President of Business Development, DataX, Ltd. "Our
underwriting capabilities already support the new TranDotCom products which are moving the market, such as Line of Credit (LOC) and installment loans, and we expect to introduce some very creative expanded products for the
TranDotCom lenders this year" she continued.

As a Fair Credit Reporting Act (FCRA) compliant reporting agency, DataX approaches the non-prime borrowing segment with diligence toward responsible reporting and lending, while ensuring that lenders can accurately predict loan performance and proactively reduce charge-offs.

"Both TranDotCom and DataX have taken an active role in industry initiatives that are shaping the new lending environment through involvement with the Community Financial Service Centers Association of America (CFSA) and the Online Lenders Alliance (OLA), and working together will help us coordinate those efforts," Fitzpatrick added.

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