Creditworthiness and Lending Decisions take a new turn in 2020

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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:

Watch Webinar >

Imagine being able to custom tune your credit scores to this market dynamic. Learn how in our upcoming blog. 

 

Tags: Machine Learning, lending, AI Lift, Accelitas, credit risk management, Artificial Intelligence, Alternative Data, Credit Risk Web Service, Credit Risk, credit screening, predictive analytics, credit decisions, AI-Powered Analytics, Automated Lending, point-of-sale data, custom credit score, COVID-19, Real-time Data, Coronavirus, Essential Retail Transactions, Creditworthy Borrowers

Posted by Scott Mullins on September 29, 2020
Scott Mullins
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