Support Credit Damaged Consumers with Alternative Data
Help accelerate credit access and improve portfolio growth.
Download the EbookCredit-damaged consumers face an uphill battle when trying to improve their credit scores
About 20% of consumers have difficulty gaining access to affordable financial products. Even when they can get credit, it’s often prohibitively expensive due to high interest rates.
For lenders who want to say yes to more customers, traditional credit scores can provide a view of risk that may be narrow or incomplete.
Alternative data can help. Consumers in subprime tradeline score bands could be on an upward financial trajectory that can be difficult to understand without a more holistic view of risk.
For lenders who want to say yes to more customers, traditional credit scores can provide a view of risk that may be narrow or incomplete.
Alternative data can help. Consumers in subprime tradeline score bands could be on an upward financial trajectory that can be difficult to understand without a more holistic view of risk.
Evaluating credit-damaged consumers with alternative data can reveal opportunities
To learn more about how alternative data can more effectively segment consumers within the same score band, we analyzed a population of subprime credit applicants over a two-year period.The results showed that alternative data can be a leading indicator of credit quality, offering a competitive advantage for lenders who add it to their credit risk assessment toolkits.
