Marketing Tips for Lenders

During any given day, lenders need to tackle a variety of challenges. By working with Equifax, lenders can leverage unique credit and economic insights to fuel acquisition efforts, reach ideal customers through multiple channels, and identify areas of opportunity within their prospect universe.

Acquisition Tips

Acquire new credit customers

Unsecured personal loans, credit cards, and student loans, or securitized mortgages, home equity, and auto loans – no matter your product offerings, you need the right credit and marketing criteria to reach your optimal Prescreen audiences. With credit data for over 300 million consumers, we can help you reach your desired Prescreen audience. Check out Prescreen from Equifax.

Speed Prescreen list development

If the process of adjusting Prescreen criteria and waiting for new counts is causing angst for your acquisition or marketing teams, then you may be pleased to hear about our online application that allows you to own this process. Obtain real-time counts, use champion-challenger criteria, incorporate waterfall/split/merge capabilities... and significantly speed your prospect list creation time. The app can even send lists right to your mail-house. Ask us about Prescreen through Equifax Ignite®.

Broaden your Prescreen prospect pool

Ready to go beyond typical Prescreen criteria? We offer numerous alternative insights to help identify new Prescreen audiences that include subprime, underbanked, thin file, and no file consumers, while still mitigating risk. Alternative data includes payment history for telecom, pay TV, and utilities accounts, as well as supplemental credit data for consumers that use specialty finance such as pay-day loans, installment loans, or lease-to-own. Additional alternative data includes employment verification, consumer-permissioned bank transaction data, and consumer-permissioned utilities and telecom data. Learn more about Alternative Data.

Leverage what you already know

You already know which Prescreen criterion has resulted in success. Now, we can help broaden your acquisition audience by modeling those same Prescreen criteria to develop Invitation-to-Apply (ITA) lists that do not require a firm offer of credit. You’ll likely be able to better reach new audiences including underbanked, thin file, or younger consumers. Check out Credit Modeling for Invitation to Apply™.

Layer non-FCRA consumer wallet insights into customer profiles and acquisition models

If you are looking to delve deeper into the credit file while still mitigating risk, then we have plenty of options for you to explore: total income measures, ability to pay measures, aggregated credit attributes, and more. While these measures are non-FCRA, the data can provide additional insight into consumers’ likely economic capacity and ability to pay, enabling enhanced segmentation before Prescreen. Learn more about Economic Insights.

Continue and optimize your acquisition campaigns

If seeking to enhance acquisition campaigns, then consider a pay-for-performance program where you only pay for new accounts originated and campaign results are guaranteed. You will be able to extend your marketing budget and reduce upfront costs while gaining full service campaign execution from a partner with prior marketing expertise, including marketing during a recession. Ask us about P4P Marketing with Kessler. 

Digital Tips

Use digital channels for your Prescreen

Did you know you can reach your Prescreen direct mail audience via email and display ads? That’s right — you can send Prescreen offers via email and deliver messages via targeted display ads. Extend your reach and speed response times. Learn more about Enhanced Email Append for Prescreen and Multi-channel Prescreen™.

Drive the right consumers to your website

Looking to promote your brand and strum up some interest? Then advertise to online consumers that are likely in the market for your products. We have dozens of targeting segments that can help you reach consumers that might be seeking loans, credit cards, mortgages, and more. Check out all of our Digital Targeting Segments.

Optimize your advertising on Facebook

Advertising on Facebook can be tricky. The key is to get your message to the exact desired audience, whether that is serving general ads to preferred prospects, delivering a product message to a segment of your database, or delivering Prescreen messages. We can help with all of these scenarios. Ask us about Onboarding to Facebook.

Account Management

Turn customer and prospect data into actionable strategies

Plenty of data, but not enough insights? We’ve heard that before. Benefit from our advanced segmentation, analytics, and modeling prowess to help get the most out of your reams of data. Ask us about our Analytics Capabilities.

Asses risk of credit portfolios to buy, sell, and manage

Seeking to better assess the risk of credit portfolios you are considering for purchase? Evaluate the performance of a portfolio you might want to sell? Better manage risk of an existing portfolio? Then choose from hundreds of criteria — such as verified income and employment data, late payment trends, bankruptcy, or recent collection filings — to help assess portfolio risk and make informed decisions on portfolio management and purchases, including screening customers for negative account events. Learn more about Customer Portfolio Review™.

Catch trouble spots quickly

In these uncertain times, it is best to identify potential problems in your current credit portfolio right away. With our near real-time alerts that flag risk indicators as they occur, you can catch accounts that are at near-term risk of default or late payments, or other changes in credit activity. Then, you can quickly take action to further investigate or put customers on a “watch list.” Check out Account Management Triggers.

Contact us today to learn how Equifax can help you enhance your marketing and better manage your portfolios!

Copyright © 2020. Equifax Inc., Atlanta, Georgia. All rights reserved. Equifax and Ignite are registered trademarks of Equifax Inc. Credit Modeling for Invitation to Apply, Customer Portfolio Review, and Multi-channel Prescreen are trademarks of Equifax Inc. All other trademarks belong to their respective owners. 20 -105028
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