It’s only fair. Predictive analytics is a win/win for both borrowers and lenders.

Posted on September 18, 2019

New CFPB study shows AI and machine learning can approve significantly more applications, while yielding lower average APRs; AI Lift proves itself twice as predictive as the competition

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Tags: Machine Learning, lending, AI Lift, Accelitas, Artificial Intelligence, linear model, interpretable results, Credit Risk Web Service, Credit Risk, Adverse Actions, Explainable AI, predictive analytics, CFPB, near prime, FCRA

No time to lose. In 2019, lenders simply have to be smarter.

Posted on August 21, 2019

Inadequate credit scores. Tightening Demand. Changing Demographics. Can businesses grow without raising risks?

 

Despite rising FICO scores, credit card charge-offs are increasing.

In the first quarter of 2019, charge-offs among card-issuers increased to the highest level in seven years, even while FICO scores rose overall. When credit scores rise along with charge-offs, it’s time for lenders to re-evaluate the scores they’re relying on for lending decisions.

 

FICO scores no longer reflect consumers’ ability to pay their debts.

Credit scores may have risen, but that doesn’t mean high-scoring borrowers are on firm financial footing. 40% of U.S. households would have trouble raising $400 to cover an emergency.  Additionally, Goldman Sachs and Moody’s Analytics recently claimed certain FICO credit scores have been artificially inflated over the past decade.

 

Credit card debt is worsening for young Americans 

Specifically, 8.05% of outstanding credit card debt among 18 - 29 borrowers was delinquent by at least 90 days.  If young consumers, whose scores weren’t affected by the Recession, are struggling to make payments now, how will they fare when interest rates rise or the economy falters? 

 

Demand for credit is declining even as credit risk increases.

It gets worse. At the same time that credit risks are increasing, demand for credit is falling. According to the New York Fed, credit inquiries in the last six months have fallen to historical lows. 

 

Finding new growth will require greater risk

As risk grows, lenders who rely on traditional scores will be forced to limit their lending, increase their risk of losses, or miss out on the growing population of younger borrowers.

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Tags: lending, Financial Services, AI Lift, Accelitas, Artificial Intelligence

4 Ways that Alternative Data Can Help You Lift Your 2019 Growth Goals

Posted on March 21, 2019


The lending market can always benefit from a new technological tailwind. And while there’s been a lot written about AI, the real fuel that’s driving the tailwind is alternative data. In this blog, we discuss four ways alternative data is transforming the lending market and propelling lenders to sustainable financial success in the face of market uncertainty.

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Tags: AI Lift, Alternative Data, KNOW Conference

How Will You Grow in 2019?

Posted on March 20, 2019

A new year and desire for growth brings expansion to our executive team, a waterfront office relocation to Petaluma, California, and a new Credit Risk Web Service that is blowing away traditional credit screening services.

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Tags: AI Lift, Credit Risk Web Service, Office Relocation, Executive Team Expansion

Loan Rejection Rates Digging into Revenues? Dig Deep into Data

Posted on May 4, 2018

We're pleased to present this guest blog by Paul Greenwood, CEO and Co-founder of our strategic partner, GDS Link, a provider of technology solutions, analytical and consulting services for the modern lender.

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Tags: lending, AI Lift, credit risk management, Artificial Intelligence, GDS Link

Lend360 Recap: Helping Lenders Stop Rejecting Valuable Accounts

Posted on October 19, 2017

We’re back from the Lend360 Conference, a conference dedicated to exploring every angle of the online lending market.

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Tags: lending, AI Lift, Lend360

EGuide: Stop Rejecting Valuable Customers

Posted on September 29, 2017


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Tags: Financial Services, AI Lift

 

 

 

 

 

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