Alternative credit data looks beyond traditional credit data, which typically focuses on long-established credit activities. These expanded credit insights, when paired with traditional credit behaviors, deliver a more comprehensive view into a consumer's creditworthiness.
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Public Records
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Identity Insights
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Stability Insights
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Address Insights
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Alternative Credit
Seeking Insights
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Asset Insights
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Having a broader view of a consumers creditworthiness allows you to meaningfully improve credit decisions and identify more applicants which meet current risk thresholds. When alternative credit data is combined with advanced analytic models, the result is a credit assessment that delivers highly predictive, unique insights that enhances traditional credit data to optimize business outcomes.
This incremental, predictive evaluation can give you a fuller picture of an individual’s creditworthiness needed to improve credit decisions across the customer lifecycle — notably identifying creditworthy marginal and invisible applicants who may have otherwise been declined. |
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Having a broader view of a consumers creditworthiness allows you to meaningfully improve credit decisions and identify more applicants which meet current risk thresholds. When alternative credit data is combined with advanced analytic models, the result is a credit assessment that delivers highly predictive, unique insights that enhances traditional credit data to optimize business outcomes.
This incremental, predictive evaluation can give you a fuller picture of an individual’s creditworthiness needed to improve credit decisions across the customer lifecycle — notably identifying creditworthy marginal and invisible applicants who may have otherwise been declined. |
Using scoring models and attributes which tap into proven and reliable sources of alternative credit data allows you to:
Extend better offers
Improve credit decisions on the margin by more
effectively evaluating borderline applicants.
Grow approval rates
Identify off-margin consumers underestimated
by traditional credit scores.
Expand your addressable market
Seize opportunities to turn credit invisibles — both
thin-file and no-file consumers — into valuable customers.
Improve booking rate and profitability
Extend more accurate pricing and terms to consumers across the credit spectrum who have been misclassified by traditional credit assessments.
Enhance portfolio management process
Monitor changes across the customer lifecycle.
Alternative credit data goes beyond traditional credit data to deliver a broader, more comprehensive picture of consumer creditworthiness and associated risk. Non-traditional data like professional licenses, asset ownership and public records can help bridge the gap when paired with traditional credit data.
Alternative Credit Data Impact Report
A study of the adoption, utilization and impacts of alternative data
Impact of Alternative Data Report Infographic
Gain a better understanding of alternative data adoption and usage trends
Alternative Consumer Data: What You Should Know
How financial inclusion in consumer lending can be achieved using alternative credit data.
A New Perspective on Small Business Lending
Lenders are turning to alternative credit data to gain additional insights to fuel portfolio growth.
“84% of respondents use alternative credit data in marketing and credit risk assessment across the customer lifecycle.”
LexisNexis Risk Solutions delivers a comprehensive report on the state of alternative data usage across the lending ecosystem. 225 financial institutions were surveyed, collecting responses from banks, credit unions, non-bank lenders and fintech organizations to gain insights on how alternative data is being leveraged in lending decisions, origination strategies and prescreen marketing.
Financial inclusion, increased visibility and improved segmentation are driving adoption of alternative credit data
Alternative credit data is driving meaningful business impacts
Overall satisfaction with alternative
data is high, though some challenges and barriers remain
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The top drivers of alternative data adoption
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Benefits of incorporating alternative data and its impacts on revenue growth
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Challenges that may be limiting adoption rates