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
AI and alternative data transform credit risk, letting you focus precisely on the people you need to grow your business.
Tags: Machine Learning, lending, data waterfall, Artificial Intelligence, linear model, interpretable results, Alternative Data, Credit Risk Web Service, Credit Risk, Credit Scores, credit screening, predictive analytics, Alternative Lending, micro-climate score
A new world of creditworthy customers are getting lost in the "invisible marketplace." Here's how our Credit Risk solution can help you find them.
They are the future of your business, the people who can help lenders reach aggressive sales goals in an increasingly tight credit market. They are 70 million strong and loaded with purchasing power. But according to traditional credit screening, they simply don’t exist.
The fact is, as many of 30% of adults in today’s credit market are virtually invisible to traditional screening methods.
Those traditional scores were designed to assess traditional middle-class and upper-class consumers who purchased houses and cars and used credit cards frequently, building up extensive credit histories over time. It turns out Millennials and Generation Z consumers just don’t fit that pattern. The oldest Millennials are now nearly 40 years old, but only 15% of Millennials have purchased a house. Many will take Uber rather than buy a car, and prefer Venmo over Visa, but millions of these thin-file, no-file digital natives are genuinely creditworthy and just waiting to be your good customer.
It’s a big problem. And a massive opportunity.
But 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.
Tags: Machine Learning, lending, Artificial Intelligence, linear model, interpretable results, Alternative Data, Credit Risk, Credit Scores, credit screening, Millennials, Gen Z, Alternative Lending, Credit Invisible
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.
Artificial Intelligence (AI) is getting a lot of attention in the financial services market - and rightfully so. AI promises to deliver more accurate predictions of creditworthiness for lenders. It also promises to be useful in detecting fraud. In this blog, learn how lenders need more than AI platforms and new analytical models, to realize its full potential.
We’re back from this year’s LEND360 conference. It was another great event: insightful presentations, engaging conversations, and a chance to reconnect with friends and colleagues. In this blog post, learn about 3 major topics that leading online lenders were discussing at this year's show.
Lenders need to offer alternative data tailored for the communities they serve, as well as insights into the consumers in those communities. In this blog, learn how we are providing financial service organizations the alternative 'alternative' data, identity intelligence, and responsive service they need to deliver great products to a growing and profitable market.
AI-powered insights for fast, fair, and frictionless access to more good customers.