Tweet In Experian’s recent State of Credit study which analyzes credit scores in more than 100 cities, Minneapolis took the number one spot, with an average VantageScore® of 787. The Midwest dominated the top 10 spots in the rankings and Wisconsin consumers continue to demonstrate their credit savvy, with four of the state’s metropolitan areas [...]

Read more ››

No comments

Tweet The average bankcard balance per consumer in Q2 2012 was $4,170, which is 4 percent higher when compared to the same quarter of the previous year. VantageScore A and VantageScore B tiers (super prime and prime) saw bankcard balances increase by 31 percent and 11 percent respectively, while all other VantageScore® tiers experienced annual [...]

Read more ››

No comments

Tweet The Experian/Moody’s Analytics Small Business Credit Index edged up 0.9 points in Q2 2012, to 104.1 from 103.2. High-level findings from the Q2 report show that credit quality will be slow to improve in coming months, and threats to consumer confidence and spending have become more prominent. Business confidence is in line with an [...]

Read more ››

No comments

Tweet The pressures for both credit unions and banks, to generate returns to drive greater earnings are ever present. According to recent data released by the National Credit Union Administration, the nation’s 7,019 federally-insured credit unions added 667,000 new members in the first quarter of 2012 to a record of 92.5 million. To offset these [...]

Read more ››

No comments

Tweet The cumulative effect of Basel III is expected to have a substantial impact on capital requirements. The total minimum regulatory capital will increase from 8 percent to 10.5 percent. For institutions that are considered “systematically important,” an additional holding requirement may be imposed of up to 3.5 percent. Download our white paper to learn [...]

Read more ››

No comments

Tweet A recent survey of 1,000 representative American consumers showed that while 78 percent of respondents are aware that they have more than one credit score, some key misperceptions remain: • Fewer than half (44 percent) understand that a credit score typically measures risk of not repaying loans rather than amount of debt (22 percent), [...]

Read more ››

No comments

Tweet The dramatic transformation of the financial services industry requires new advances and innovation in credit strategies to respond to the growing number of underbanked customers who need to be served. The underbanked, or unbanked, market now represents nearly 64 million U.S. consumers who have limited or no traditional credit history. Take a quiz now [...]

Read more ››

No comments

Tweet Year over year retail spend continues to trend up, translating into Bankcard balance growth and new originations. New Bankcard volumes (limits) came in at $59 billion in Q4 2011 – a 52 percent increase over the previous year. Register now for our upcoming credit trends webinar. Source: Experian Infographic: Bankcard and Retail Spending Trends.

Read more ››

No comments

Tweet The average turnaround time to make a lending decision varies materially between financial institutions. Institutions with low-level automation are typically less competitive on price due to the higher cost of manual reviews. For customers, it leads to high levels of dissatisfaction, complaints and switching of institutions. To learn more practical insights and best practices [...]

Read more ››

No comments

Tweet As part of its expanded guidance, the Office of the Comptroller of the Currency explicitly recommends that financial services firms utilizing predictive models and decision analytics run regular validations to gauge model efficacy. VantageScore 2.0 was recently measured against the best credit score models from each of the three largest credit reporting companies (CRCs). [...]

Read more ››

No comments