This use case explains how you can enhance your consumer profiles and acquisition models before Prescreen.
Situation: Company turns to Equifax for a solution to assess lending to subprime, thin, and no-file consumers while still mitigating risk.
A lender wants to broaden its Prescreen prospect pool while still mitigating risk.It wants to enhance its segmentation and acquisition models before Prescreen with additional insights on subprime, thin, and no-file customers.
Equifax provides economic insights and alternative credit data to help the company enhance its models and better assess consumers before Prescreen. Data includes:
Likely total household income, ability to pay, and aggregated credit needs and usage to better assess households’ ability to meet obligations
Consumer-permissioned bank transaction data to better understand financial behaviors
- Consumer-permissioned access to utility and telecom accounts to better assess payment history
By using economic insights and alternative credit data, the company can:
Enhance acquisition models to lend deeper into the credit file
Expand its audience for lending offers
- Better segment and identify consumers with desired credit and financial attributes
Results may vary based on actual data and situation.