Tag: alternative credit data
Exploring some of the top trends for the financial services industry going into the new decade from data and decisioning to fraud and customer experience.
As we prepare for the excitement and challenges of a new decade, the same can be true for how we approach the use of alternative data. Read more!
The DMV is embracing technology to improve overall customer experience, and financial institutions can benefit from doing the same.
How are fintechs faring against traditional FIs? Our latest infographic uncovers industry trends and key metrics in unsecured personal installment loans.
It’s important for lenders to get a comprehensive view to find the most qualified candidates. Using alternative credit data can expand your choices.
The 2019 report reveals new consumer and lending insights, an overview of the regulatory landscape, and what's next for machine learning and alt data.
Millions of consumers lack credit history and/or have difficulty obtaining credit from mainstream financial institutions. To ease access to credit for “invisible” and below prime consumers, financial institutions have sought ways to both extend and improve the methods by which they evaluate borrowers’ risk. This initiative to effectively score more consumers has involved the use of alternative credit data.1 Alternative credit data is FCRA-compliant data that is typically not included in a traditional credit report and is used to deliver a more complete view into a consumer’s creditworthiness. “Alternative credit data helps us paint a fuller picture of a consumer so they can get better access to the financial services they need and deserve,” said Alpa Lally, Vice President of Data Business at Experian. Experian recently sponsored the FinovateSpring conference in San Francisco, where Alpa had a chance to sit down with Jacob Gaffney, Editor-in-Chief of the HousingWire News Podcast, to discuss ways consumers can improve their credit scores. As an immigrant, Alpa spoke personally about the impact of having a limited credit history and how alternative credit data can help drive greater access to credit for consumers and profitable growth for lenders through more informed lending decisions. Highlights include: How alternative and traditional credit data differ Types of alternative credit data being used by lenders How “credit-invisibles” can best leverage alternative credit data Alternative credit data product solutions, including Experian BoostTM Listen now 1When we refer to “Alternative Credit Data,” this refers to the use of alternative data and its appropriate use in consumer credit lending decisions, as regulated by the Fair Credit Reporting Act. Hence, the term “Expanded FCRA Data” may also apply in this instance and both can be used interchangeably.
Experian's annual thought leadership conference will be held May 5-8 in San Antonio Texas, and will feature 50+ sessions on the industry's latest trends.
We’ve rounded up what it takes for consumers to have a good credit score, in addition to some alternative considerations. Read more!
Alternative Credit Data and Trended Data have different strengths, but when used together, they can make a world of difference on your strategy as a whole.
In the head to head match up between alternative credit data and trended data, who will win? Both offer value above and beyond traditional credit data.
Alternative financial services data gives lenders access to powerful and predictive supplemental credit data that better detect risk and benefits consumers.
Credit access for the masses, machine learning and fraud are among the top 5 trending topics for the financial services industry in 2019.
Experian is ushering a new age of consumer empowerment with Experian Boost, which eliminates the guesswork of what goes into a credit score.
Criminals constantly search and exploit weaknesses. In this digital age, protecting people fuels our commitment to identity protection and fraud prevention.