Mogo
Social Media Release
CANADA'S "FRIENDLIEST LOAN IN TOWN" IS POSITIONED FOR GROWTH
TranDotCom's Short Term Loan Solutions and Support Provide Flexibility and Scalability
08.18.2009 – In the highly competitive and ever changing Canadian consumer lending segment, Mogo has distinguished itself as an innovative market leader, and is positioned for exponential growth this year.
Leveraging a long-term collaborative relationship with TranDotCom Solutions, LLC has allowed Mogo the technological flexibility needed to drive growth, launch new products, and react quickly to changing regulations governing short term loans. Mogo operates a network of eleven stores throughout British Columbia, Alberta, Manitoba and Ontario provinces. Its dynamic web presence has propelled the company to status as Canada’s top online lender.
“Almost three years ago Mogo was looking for a system that could grow and scale with its business strategies and support the products they were planning to launch” recalled Joe Fitzpatrick, Founder and CEO of TranDotCom. “They were seeking support by a provider already familiar with short term lending. Since TranDotCom is a specialist in the product category, and one of a fairly small number of companies that cater to non- traditional lenders, we were able to apply our knowledge and skills to customize solutions for Mogo”
Prior to migrating to TranDotCom’s platform, Mogo had been working with an older non-lending specific legacy system, which was difficult to customize, keep current, and was limited as the company planned to expand.
“The TranDotCom platform is attractive to companies of our size, because it is a fully hosted, outsourced and supported solution that allows us to focus on our core business, rather than having to create our own software development processes,” according to Jason Mullins, Vice President of Sales and Operations, Mogo.
TranDotCom’s industry-leading Loan Management System formed the basis for Mogo’s core loan platform. The Mogo team also employs many of the TranDotCom tools such as reporting through web access, to combine with their own internal systems.
“Working with TranDotCom has given us a competitive advantage, because we are working with a company that has already perfected industry best practices and is a step ahead of new trends within the short term lending industry. Through the years the relationship has become a collaborative effort, and is constantly evolving and improving as our needs are changing,” Mullins cited. “As our business has grown, the level of TranDotCom support has increased as well,” he added.
About TranDotCom Solutions, LLC
TranDotCom Solutions is a leader in automated consumer finance transaction processing, providing a full range of consulting, software, support and transaction processing services which allow lenders to be more competitive and highly efficient. TranDotCom Solutions understands and specializes in all of the components of consumer finance lending including payday advance and line-of-credit products.TranDotCom pioneered the industry’s first web-based transaction management system and has been processing transactions since 2000, supporting storefront and online lenders in the United States, Canada, the United Kingdom. TranDotCom may be reached at 678-433-1200 or sales@tdcemail.com.
About Mogo
Mogo is Canada’s #1 online lender. Mogo aims to become the amazon.com of money lending through better service, no hassles, the lowest price and no hidden fees. As “the friendliest loan in town,” Mogo is revolutionizing financial services in Canada by offering consumers convenient access to small loans, short terms and easy amounts to pay back. Additional information may be found at: http://www.mogomoney.com. Questions may be addressed to Philipp Postrehovsky at 604-659-4383 or philippp@mogomoney.com.
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- In the highly competitive and ever changing Canadian consumer lending segment, Mogo has distinguished itself as an innovative market leader, and is positioned for exponential growth this year.
- Leveraging a long-term collaborative relationship with TranDotCom Solutions, LLC has allowed Mogo the technological flexibility needed to drive growth, launch new products, and react quickly to changing regulations governing short term loans.
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