Equifax Sales Agent
Implement an open-all strategy + grow wallet share with alternative data
Reimagine your DDA acquisition strategy!
It’s time to think differently about DDA acquisition: Use Equifax’s Insight Score for Retail Banking (ISRB) to match undiscovered consumers to the appropriate account types at your bank. Otherwise, you’re leaving money on the table.
Unless you’re leveraging alternative data to assess DDA risk, you’re not getting the full picture of your applicants. Why miss out on a potential lifetime consumer because they once bounced a check on a pizza delivery in college? Especially if that same person has a steady record of on-time mobile phone and utilities payments. Alternatively, other solutions take several months to incorporate the latest data, leaving you vulnerable to incorrectly approving a consumer and incurring significant charge-offs.
ISRB uses traditional credit data and alternative data (e.g., mobile phone, pay TV, and utility payment information) to help you identify more households and bring in additional revenue. Many younger consumers have opted to rent instead of own and use debit cards over credit, so without accessing alternative data, you’re looking past a growing portion of the population.
How then can you adapt to the changing credit landscape and widen your consumer audience without taking on increased risk? A robust tool that can be delivered through most connectors, ISRB enables you to confidently grow new account acquisitions with an expanded view of payment history.
New opportunities are now visible.
Estimates show that one in 10 adults—about 26 million Americans—are “credit invisible,” meaning they have little to no credit history. This expansive group of potential consumers disproportionately comprises younger and elderly Americans, lower-income people, minorities, and immigrants—many of whom could be the right fit for one or more of your DDA options.