It’s great that borrowers are ready to borrow again — but you can’t just dive back into the pool without a solid strategy. An uptick in default rates calls for keener risk assessment. Regulators want to see progress toward financial inclusion and continued monitoring of portfolio performance.
It’s hard to achieve the right balance of growth, risk mitigation and compliance while maintaining an edge over aggressive competitors. To win in this environment, must look at credit portfolio management through an enhanced lens that yields unique insights about the life event triggers that affect your portfolio over time.Credit history alone isn’t enough to work through these dynamics. Its past data; not intuitive enough by itself to detect predictive patterns. And, it doesn’t provide comprehensive coverage. You might need insight into:
Expand your small business market share through improved risk decisioning
Expand your market by combining the best credit and non-credit data.
Assess small business creditworthiness confidently and easily
Assess consumer creditworthiness and risk potential
Retain your competitive edge without the added expense of recalibrating your models
Generate a FICO score for unscorable credit applicants