Accelitas hosted a webinar on Lending During a Crisis, revealing both challenges and “green shoots” for recovery in the coming year.
(Second in a three-part blog)
Bringing together the on-the-ground experience of today’s lenders and the predictive analytics expertise of top data scientists, Accelitas has been charting the shifting direction of today’s volatile marketplace. Our recent webinar Lending During a Crisis, featuring Accelitas Data Scientist Steve Krawczyk and CEO Greg Coté, continues to provide insights, solutions, and a few potential surprises for lenders.
81% of participants said coronavirus concerns have significantly impacted their business. While that may not be news, a closer look at the research finds room for opportunity:
- 200% increase in segment of customers that have not been active for five years
- These populations were 30% more profitable for our lenders than average customers
- Specific geographic areas are showing an uptick in demand
- “Essential” merchant lending is strongly up and anxious to move forward
- Debit transactions have recovered more quickly than credit
- Better access to relevant and timely data gives lenders an advantage
See for yourself.
Watch a recording of the webinar by clicking below:
Imagine being able to custom tune your credit scores to this market dynamic. Learn how in our upcoming blog.