Leveraging Alternative Data to Regain Visibility
The credit reporting landscape has shifted, clouding the view of credit risk assessment.
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A number of recent changes in the market have impacted the predictive ability of traditional credit risk assessment methods.
Evolving consumer behaviors, economic instability, new regulatory developments and more have led many lenders to leverage multiple sources of data insights to refine credit decisions and stay competitive.
Adding Clarity to Credit Risk
In the face of persistent economic uncertainty, even the most disciplined consumers can fall upon hard times. Add in the other obstacles mentioned above, and it can be difficult to see the full picture of consumer credit risk.Fortunately, a wide range of alternative data exists that offers a more holistic and nuanced view of a customer’s financial stability and willingness to repay. As a result, you can more effectively manage a profitable portfolio while serving more customers and mitigating risk exposure.
With the help of alternative data, you can better identify creditworthy customers by leveraging a fuller picture of their financial health.
Even in an environment where visibility is obscured, it’s possible to identify, segment and prioritize customers who can help you grow your portfolio without adding unnecessary risk.
Learn more about how alternative data can help improve credit risk decisioning at every stage of the customer lifecycle:
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Account Origination
Portfolio Management
Collections
It’s time to regain visibility into consumer credit risk.
Are lenders losing confidence in traditional credit data alone for credit decisioning?
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