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Customers don't have equal value. The ability to differentiate beyond a risk assessment is vital to providing better service, offering superior rewards, granting higher credit lines and managing profitability.
Download a presentation with additional features and details about this industry-unique algorithm.
Learn how changes in the economy have impacted consumer credit behavior, and what risk managers should examine more closely to determine their portfolio strategies.
Experian TAPSSM is the first industry-unique algorithm that accurately estimates a consumer’s spend on all general purpose credit and charge cards over the last 12 months.
By providing clients with just this single piece of information, Experian TAPSSM will enable lenders to dramatically enhance marketing and account management strategies by helping them:
Clearly, all customers don’t have equal value. Given the new economic environment, the ability to separate and differentiate the highest spending consumers allows you to focus capital where it counts.
You can deliver better service, provide superior rewards, and even offer significantly higher credit lines - when you know the total spend they generate, not just on your accounts but on "off us" accounts as well.
Know your customers and prospects
Experian can provide an overview of your current situation, clearly illustrating the consumer spending data and spend behavior of your prospect pool or portfolio. Understand how your existing line assignment, product offerings, and APRs influence your customers' card preferences.
Append to prospect database
Refine your prescreen universe to target those prospects that meet your spend criteria while developing offers that improve response.
Include in portfolio account reviews
Identify and invest in those segments that have spend to shift. Fine tune retention and cross sell strategies to negotiate for the spend you know is there.
Integrate into credit decision
Are you assigning high lines to customers that never spend enough to use them? Are you eliminating your card from true consideration by establishing a line that doesn’t come close to meeting the real need? TAPS provides the ability to right size a credit line generating profit not just mitigate risk.
Are you capturing the share of spend that you want?
Are you building your portfolio with a limited view to your customers' real potential? The best card issuers capture a significant share of total spend. Are you wasting capital on customers that while low risk, do not spend? How do you get your fair share? Experian TAPSSM shows you what you're missing and provides important insights that allow you to maximize your investment dollars.
Experian TAPSSM uses balance data to estimate the annual spend on every credit card. It then aggregates trade lines to provide a clear snapshot of an individual's annual spend across all their general purpose credit cards.
Experian TAPSSM is strongly correlated with income, deposit balances and net worth.
Features: Wallet share
Experian TAPSSM can also calculate a lender’s wallet share for each consumer through the use of Experian subcodes
Note: The algorithm is not “predicting spend” –it interprets the last 12 months of longitudinal credit history and calculates a proxy for historical spend. Therefore, it is not a model per se, but more like a complicated attribute.
Features: Returns 5 data elements
Experian TAPSSM returns 5 fields
|Total Spend||Pay Rate||Client Spend||Other Spend||Wallet Share|
Experian TAPS can be used for the basis of adverse action.
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