Proactively identify changes in current customer risk

In this use case, use Equifax to establish timely alerts that identify potential trouble spots current portfolios.

Challenge

A company  wants to manage risk associated with current customers by identifying trouble spots, before they impact portfolio performance.

The company wants near real-time alerts that flag risk indicators as they occur, rather than relying just on its monthly or quarterly account review process.

Solution

Equifax works with the company to determine the frequency and risk criteria to be monitored. 

Daily Account Management Triggers are used to highlight recent changes in credit activity and utilization, allowing the company to:

  • Pull a full credit file on a triggered customer
  • Put customers on a “watch list”
  • Further investigate the trigger reason

Outcome

By applying Account Management Triggers, the company is able to:

  • React faster to trouble spots, limiting the negative impact to its portfolio
  • Better serve customers by anticipating needs for assistance
  • Continuously identify accounts that are at near-term risk of default or late payments
  • Supplement  account review with near real time insights

For more information about Account Management Triggers, visit our website.

Results may vary based on actual data and situation.
Previous Article
Compliance-friendly 3rd-party wealth solution provides 75% accuracy
Compliance-friendly 3rd-party wealth solution provides 75% accuracy

WealthComplete HD provides household-level total deposit and total asset estimates without the use of prote...

Next Article
Monitor current accounts for changes in employment
Monitor current accounts for changes in employment

How to help manage portfolio risk by spotting changes in the employment status of current account holders.