The Future of Credit Card Underwriting
Tags: Decision Analytics, Fraud Management
The card lending community is facing increasingly tighter regulations, restrictive lending criteria and continued economic challenges which will continue to impact how the industry does business going forward.
The card lending community is facing a new normal -- a world of increasingly tighter regulation, restrictive lending criteria and continued economic challenges. This new normal will impact how the industry does business going forward. Deeper data assessment, fewer automatic approvals and a focus on pricing for the long term at the point of application will take center stage focus on how to grow within today's reality. Most card lenders spent much of 2009 focused on readying themselves for Credit Card Accountability Responsibility and Disclosure Act (Credit CARD Act) compliance and will continue these efforts throughout 2010.