Who are the unbanked?
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Experian News - May 2012
Opportunities Within The Unbanked Market
Identify the Best Prospects Now
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Redefine your credit marketing strategies and identify the best near-prime prospects
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Expand your marketable universe
Credit marketers who evaluate the right data assets to supplement targeting efforts will emerge quickly over the next 18 months as leaders in portfolio growth. The key is getting the right product to the right consumer at the most appropriate time.
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Financial Services Alternatives for a Thin File
An estimated 64 million consumers have little or no credit history and are unscoreable by most traditional credit score models. As a result the unbanked consumers don't always have access to many lending products. Experian's Extended ViewSM score reduces the rate of risk for lenders for this "Thin file" group and enables business' to capitalize on these missed opportunities, thus gaining a competitive edge in the marketplace.
Capitalize on Missed Opportunities to Gain a Competitive Edge
Historically, credit grantors have been challenged to expand their customer base into this fast-growing but potentially risky market without effective risk-management tools, information and techniques. With Extended View score, financial institutions, including banks, credit unions, auto lenders, telecommunications companies and utility providers, now will be able to increase lending offerings to this market segment.
Extended View score for B2C and Lending Options for the Unbanked
Extended View score is Experian’s Fair Credit Reporting Act–compliant credit score designed to assess the creditworthiness of underserved consumers who have limited or no traditional credit history. Armed with a more robust underwriting arsenal for these individuals, you’ll now be able to fund financial products for this underpenetrated market.
A statistically superior score utilizing multiple traditional and alternative data sources, Extended View score gives you a more comprehensive view of a consumer’s payment behavior, enabling you to expand your underwriting population and giving underserved consumers better access and choices when it comes to lending options.
Ensure a Minimal Rate of Risk with Tightly Integrated Decision Making
An advanced scoring and segmentation tool, Extended View score is powered by traditional and alternative data sources — including rental payment and public record data — and new analytic techniques, driving exceptional predictive power.
Experian® is committed to helping consumers establish and build credit. Find out how you can help provide underserved consumers with choices and better access to lending options.