Leveraging Alternative Data to Uncover Hidden Growth Opportunities
Are you turning away creditworthy applicants?
The use of alternative data to provide a comprehensive view into creditworthiness is not a new concept. For over a decade, ID Analytics has been leveraging unique insight into credit behaviors sometimes absent from traditional credit assessments to help improve lender’s understanding of the credit risk of nearly every U.S. consumer. Today, nearly half of the 10 largest U.S. credit card issuers are using these insights to inform underwriting decisions on a range of different consumer segments, helping them drive portfolio growth while tightly managing risk.
Scoring models that leverage alternative credit data sources can provide the additional insight needed to uncover hidden growth opportunities among credit invisible and marginal applicants, many of whom can present a profitable opportunity for lenders and service providers.
Download this summary for more on leveraging alternative data to uncover hidden growth opportunities, including specific case studies on assessing invisible and marginal creditworthiness.