Help Enterprises Reduce Losses Associated With Intentional Misuse of Credit
Identify high-risk applicants who may be trying to abuse requested credit or services despite their solid credit history.
For organizations combatting the rising challenge of intentional misuse of credit, LexisNexis® Credit Optics® Intentional Misuse recognizes applicants who may be attempting to abuse requested credit or services. It fills a gap at the application stage, the optimum place to detect consumers with questionable intentions.
However, spotting a consumer who aims to default on a loan or credit line, but has yet to commit such action, is tricky. By focusing on intent, Credit Optics® Intentional Misuse is able to identify a wide range of dubious behaviors, including synthetic identity, first party fraud, first payment default, and bust-out.
As a Fair Credit Reporting Act (“FCRA”) solution, risk assessments from Credit Optics® Intentional Misuse are adverse actionable. This is an important feature when dealing with applicants who intend to misuse credit because they often own the identity they put on an application and may therefore pass-through traditional identity-proofing screens.
Credit Optics® Intentional Misuse was developed as a direct response to feedback from leading U.S. lenders and service providers who wanted to address the broader range of credit abuse challenges, including synthetic identities. It adds another critical layer of protection to your credit risk assessment process.
Benefits
Credit Optics® Intentional Misuse is a three-digit risk score which can help you:
- Identify an extensive range of intentional misuse threats
- Provide adverse actionable insights to enhance credit risk and underwriting strategies
- Leverage a unique view into alternative data to identify intentional misuse
- Complement existing credit underwriting solutions currently in your strategy
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-based analytics and decision tools for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com. Our solutions assist organizations with preventing financial crime, achieving regulatory compliance, mitigating business risk, improving operational efficiencies and enhancing profitability.
This document is for informational purposes only and does not guarantee the functionality or features of the LexisNexis Risk Solutions products identified. LexisNexis Risk Solutions does not warrant that this document is complete or error free.
LexisNexis and the Knowledge Burst logo are registered trademarks of RELX Inc. Other products and services may be trademarks or registered trademarks of their respective companies.
LexisNexis® Credit Optics® Intentional Misuse may only be accessed in compliance with the Fair Credit Reporting Act, 15 U.S.C. 1681, et seq.