ATLANTA - LexisNexis® Risk Solutions, a technology, data and analytics company, announced today that the Small Business Financial Exchange, Inc.’s wholly-owned subsidiary, SBFE, LLC, has approved it as an SBFE Certified Vendor to leverage the exchange’s business credit performance data. As a result of this new designation, LexisNexis will build credit reports, scores, attributes and other risk-decisioning products for use by SBFE Members to provide never-before-available insights and predictive capabilities into small business credit risk decisioning.
“SBFE is deeply rooted in the financial industry with a charter to transform how small business lenders share their customer data and is the industry’s most trusted and robust source of small business financial credit information. We are pleased to announce LexisNexis Risk Solutions has qualified to be an SBFE Certified Vendor,” said Small Business Financial Exchange CEO Carolyn Hardin-Levine. “As a Certified Vendor, LexisNexis meets SBFE’s high data security governance, control and independent oversight requirements. SBFE is excited by the new product innovation LexisNexis will deliver to our membership.”
LexisNexis plans to release in the coming months exclusive products that combine its vast U.S. business and consumer data with SBFE payment-performance data. LexisNexis’ U.S. business coverage, culled from more than 13,000 public and other proprietary sources, surpasses other providers’ coverage of small, new and niche businesses. The company’s business and consumer intelligence enables it to solve the perplexing problem of identifying and linking people who are connected to a small business. Additionally, it affords more clarity around complex relationships between businesses and consumers due to a patent-pending, multi-dimensional architecture. These advantages empower SBFE Members to find underpenetrated consumer segments, offer attractive terms while managing risk and manage default risk at multiple stages of the credit lifecycle.
“SBFE Members benefit from the LexisNexis relationship in ways that were unimaginable until this announcement,” said Rick Trainor, CEO, Business Services, LexisNexis Risk Solutions. “The combination of our coverage of U.S. businesses and ability to link consumer risk data with the SBFE financial data will yield a significant increase in the predictive power of SBFE Members’ small business credit risk decisioning so that Members can grow their businesses more profitably.”
Today’s news reflects an extension of the longstanding relationship between SBFE and LexisNexis. LexisNexis’ big data technology, processing efficiencies and data management expertise are the cornerstone of its relationship with SBFE.
Trainor concluded, “Lenders just haven’t had a robust combination of financial intelligence to make highly confident decisions about small business lending. That roadblock now has been removed.”
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.