Alternative Data: A look at using predictive data in modern lending
Discover how our new REVELAR 2.0 solution analyzes your data to uncover new potential -- reducing financial volatility, mitigating risks, and ultimately creating new revenue streams.
- Reduce your COA and expand your offers and approvals
- Implement our compliant and secure solution into your existing enviroment
- Increase credit qualified candidates in your existing database
- Make your data more valuable and with less risk
Furnisher Data: Commitment to Accurate Reporting
Not only can our REVELAR 2.0 solution analyze your data to uncover new potential, it can also analyze your reporting data.
- Reduce time spent rectifing reporting inaccuracies
- Intercept and correct data inaccuracies early, preventing potential bureau submission errors
- Boost customer trust and happiness by dimishing error rates in reported data
- Augment operational effectiveness by minimizing backtracking and corrections
Credit Monitoring: Make it Actionable
Many financial institutions today provide a free credit score to their customers, but miss this opportunity.
- Reinvigorate customer engagement by introducing credit error detection capabilities with our solution
- Offer users a clear window into potential inaccuracies in their credit reports
- Transform passive credit monitoring checks into proactive financial management
- Motivate consumers to use your credit monitoring by highlighting an interactive and impactful tool
**Findings from two national online surveys Experian conducted regarding alternative scoring and the use of alternative data for lending.
"Take alternative data seriously. The old way of evaluating personal credit is not going to work in 2021. Risk models need to adapt, and marketing lenders need to use alternative data to manage this. FICO is now revising their scoring to weigh the impact a personal loan has on a credit score, as a result of the sheer popularity of personal loans—which have led to easy approvals, funding (thanks to the rise of fintech lenders), and too many consolidation loans. FICO is now using an alt data category called “trending data” to track (and score) how well a consumer manages debt levels across all accounts."
American Banker, March 2021
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