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
Tags: Machine Learning, lending, AI Lift, Accelitas, credit risk management, Artificial Intelligence, linear model, interpretable results, Alternative Data, Credit Risk Web Service, Credit Risk, Adverse Actions, credit screening, Explainable AI, predictive analytics, CFPB, near prime, FCRA Compliant, Credit Reporting, Credit Reporting Agency, credit decisions, compliance, AI-Powered Analytics
Tags: Machine Learning, lending, AI Lift, Accelitas, Artificial Intelligence, linear model, interpretable results, Credit Risk Web Service, Credit Risk, Adverse Actions, Credit Scores, credit screening, Explainable AI, predictive analytics, CFPB, near prime, FCRA, thin-file, un-scored, FCRA Compliant
AI-powered analytics "bend the curve" to reveal the creditworthy customers you've been missing.
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
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
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
Inadequate credit scores. Tightening Demand. Changing Demographics. Can businesses grow without raising risks?
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.
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.
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?
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.
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.
Tags: lending, Financial Services, AI Lift, Accelitas, Artificial Intelligence
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.
Tags: AI Lift, Alternative Data, KNOW Conference
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.
Tags: AI Lift, Credit Risk Web Service, Office Relocation, Executive Team Expansion