Bring consumer and small business credit risk assessment into sharper focus. Leverage industry leading alternative credit data to gain an enhanced perspective on prospect, applicant and customer credit risk.
By augmenting existing assessment strategies with alternative data insights, lenders can gain a better understanding of consumer and small business credit risk for improved outcomes from marketing and origination to account management, collections and recovery.
Evaluate more customers to navigate risk more effectively. Our industry-leading credit risk solutions enable faster, more confident decisions across the customer journey — helping you drive portfolio performance and profitability.
Tailor pre-screen and pre-qualification offers to customers who meet your criteria.
Approve more applicants and extend more attractive offers with greater confidence.
Anticipate changes in credit quality to customize your approach to account management.
Prioritize and customize outreach strategies to recover delinquent customers.
Our alternative data provides risk intelligence to better assess an individual or organization's credit risk beyond traditional credit data. These insights may include enriched visibility into credit-seeking behavior, professional licenses, residential stability, asset ownership and more.
Applicants benefit from the use of alternative data through increased access to credit and better credit offers. Lenders benefit from expanded marketing universes, increased response, approval and booking rates and decreased default and loss rates.
Financial institutions that use alternative data for credit risk assessment can address the two primary consumer segments who struggle with financial inclusion, credit invisible consumers and non-prime consumers. By scoring the vast majority of credit invisible consumers underestimated by traditional data, alternative data can unlock meaningful financial inclusion opportunities for lenders.
All lenders must comply with the Fair Credit Reporting Act (FCRA) when using alternative data for loan approvals. All LexisNexis® Risk Solutions credit risk products are designed to help meet modern compliance demands, so lenders can focus on driving growth with confidence.
Alternative data can help small business lenders serve a wider range of small businesses by providing more holistic insights into their financial situation. Savvy lenders can also enhance their decision making while reducing their exposure to fraud and risk, with the help of advanced analytics, data modeling and real-time monitoring capabilities.
Alternative data can help lenders improve their understanding of borrowers, tailor collections strategies and increase recovery rates, all while maintaining strong customer satisfaction levels.
By leveraging nontraditional data sources, lenders can grow approval rates by targeting traditionally unscorable applicants more effectively. They can also improve lead quality and customer engagement, enhancing customer acquisition outcomes.
Credit risk management can help improve decisions by using alternative data to better evaluate applicants, including those with limited credit history. This helps lenders expand their market, make competitive offers, and navigate uncertainties confidently. Credit risk management solutions from LexisNexis® Risk Solutions leverage predictive insights to identify opportunities and manage credit risk effectively.
Optimize customer data to identify opportunities and avoid risk
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