The TranDotCom Solutions team is dedicated to supporting your lending software and call center needs.

Fitzpatrick Presents Proactive Approach to Market Challangers at Online Lenders Allicance Conferenc

In The Know/Tranews

January 2010


Speaking at the Online Lenders Alliance (OLA) Fourth Annual Fall Conference in Colorado Springs in October, TranDotCom CEO and founder Joe Fitzpatrick outlined a new product offering that short-term small-dollar online lenders can introduce to face changing regulatory environments.

"Based upon our experience in the marketplace, OLA asked us to present a realistic assessment of where the market has been, how it has already evolved, and to offer proactive suggestions to help lenders meet the changing market conditions," said Fitzpatrick.

His presentation "Moving Beyond Payday Lending" equated the historical changes the segment has faced and impending future changes to the premise of the national bestseller "Who Moved My Cheese?" by Dr. Spencer Johnson. Maintaining, that while consumer demand for short-tem small-dollar loan solutions has, and will always exist, Fitzpatrick acknowledged that change is inevitable. He urged attendees to think proactively, rather than reactively to changes such as regulatory pressures, and new market entrants, and presented the concepts of the Line of Credit (LOC) and installment loans as examples of new product models that can help them to serve the small-dollar market.

In introducing the audience to the LOC product, Fitzpatrick traced the challenges that TranDotCom has helped lenders meet since 1999 by adapting its core product to changing market conditions. Initially, the company met demand through sales lease-back and phone card models. Having the versatility to adapt its products, TranDotCom then progressed to a bank rate exportation model, and more recently CSO/choice of law, state by state format. Committed to innovation, the company is looking forward, and feels that the LOC product will allow lenders to positively adapt to the regulatory environment, continue to serve their current customer base, and even expand their reach to wider markets.

Structured as an open ended revolving account, the LOC offers consumers the potential of larger loan amounts and longer terms for repayment vs. a traditional short-term loan product. At the same time, the product provides lenders with a small-dollar offering that can compete more effectively in both demographically and geographically broader markets. The product can appeal to consumers who would never have considered a payday advance, and the largely untapped segment categorized as "mid-prime."

Summarizing the potential of the LOC product and TranDotCom's continued agility in adapting to new market scenarios, Fitzpatrick advocated that lenders commit for continued success by now strategizing for the future and proactively adjusting their business models to be prepared for regulatory change.

Contact us at

March 2014
February 2014
December 2013
October 2013
August 2013
July 2013
May 2013
April 2013
March 2013
February 2013

November 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
January 2012
December 2011
October 2011
September 2011
August 2011
July 2011
June 2011
February 2011
September 2010
April 2010
January 2010
September 2009