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Resources tagged "Credit Services"

Help stop delinquencies before they occur

Accommodations provided by the CARES Act are coming to an end, the U.S. is down 8 million jobs (AC Cutts & Associates), and average wage income is down 22% since March (Equifax, 2020).  With the added recent furloughs and layoffs, it’s clear that increasing the frequency and depth of account review is imperative to ensure […]

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Explore a price-competitive credit scoring option without compromising quality

Many of our partners are now researching price-competitive credit scoring options for their business. Price increases, score fluctuations, and the ability to score thin credit files have creditors searching for an alternate credit score. If you, too, are considering a change, I recommend you consider VantageScore from Equifax. VantageScore is a predictive scoring model that leverages […]

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February 2021 Industry Insights from Confluent Strategies

Housing starts hit highest pace since 2006 Single-family housing starts ended 2020 on a high note, rising 12% in December to a 1.338 million-unit pace – the highest pace since 2006, according to the Census Bureau. That’s up 27.8% from one year ago, a remarkable figure given the economic effects of the COVID-19 pandemic, per […]

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CS Industry Insights for November

Understanding consumer financial durability The coronavirus pandemic has impacted numerous U.S. households—but in different ways. Financial Durability helps marketers understand the financial capacity of households more holistically, beyond income and credit score. FICO study finds most banks lack digital identity verification During COVID-19 more consumers than ever are using online banking. Yet, a new survey […]

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Build loyalty and trust with your consumers through FICO score transparency

Give your customers the transparency they want (and get the insight you need) Now more than ever, your consumers seek to have a clear understanding of their current credit status and how lenders view them. FICO® Score Open Access enables you to build loyalty and trust with your consumers by sharing the FICO® scores you already use […]

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Consider a FICO® Resilience Index as you set loss reserves for Q4 2020

We’re all aware that 2021 brings with it a certain degree of economic uncertainty. It’s critical that you are equipped to evaluate and balance your portfolios to accommodate rapidly changing conditions quickly, efficiently, and responsibly. In order to more accurately set your ALLL reserves for your Q4 2020 Call Report, I recommend you consider FICO® Resilience […]

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Lend with confidence with consumer-permissioned utility and telco data

Bring more consumers into view Start ahead with consumer-permissioned utility and telco data. To close this gap, you need a broader view of consumers. Consumer-permissioned utility and telco data from Equifax allows you access to payment histories from over 6,000 electric, natural gas, water, waste, cable, telecom, and internet providers.  Utility data has the power to […]

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CS Industry Insights for October

Rethinking lending & credit in a post-covid world The COVID-19 crisis has increased the need for digital lending platforms and processes more than any previous event. To respond to the needs of current borrowers and to serve the needs of future borrowers, banks and credit unions must simplify borrowing and provide more options for consumers […]

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Verify employment and income changes for your customers

Stay in-the-know about your customers’ employment and income changes While there’s been recent improvement in the nation’s unemployment rate, layoffs don’t seem to be slowing down, according to Marianne Wanamaker, a labor economist at the University of Tennessee, Knoxville. This could mean your customers are experiencing a financial change you don’t know about yet.  Strengthen your existing […]

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Broaden your view with consumer-permissioned data

Better decisions start with a broader view Start ahead with consumer-permissioned data. Yet, many of these consumers exhibit financial responsibility by paying their bills on time. Consumer-permissioned data is financial information a consumer voluntarily consents access to, like utility and telecom payments or bank transaction records. Layering consumer-permissioned data sources on traditional credit data can move […]

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