Post Tagged with: "alternative data"

Why Lenders Should Take Advantage of Alternative Data

Why Lenders Should Take Advantage of Alternative Data

There was some variation in what data was considered alternative, according to FactorTrust’s Alternative Data Survey Results. Overall, the definition of alternative data was quite unanimous as “credit related data not found on the traditional three credit reports,” according to the June survey. For example, FactorTrust, LexisNexis, Clarity, TransUnion L2C, TransUnion TLO,Read More

Identifying the Dying Dealership: A Guide for Lenders

Identifying the Dying Dealership: A Guide for Lenders

Do you know if a car dealership is doing well? Is it growing? Will it survive to next year? Auto finance companies must know. They spend marketing dollars and invest risk capital to do business with dealerships, so they need to know if a dealership will still be here tomorrow.Read More

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

3 Ways Lenders Can Utilize Alternative Data [VIDEO]

PLANO, Texas — Using alternative data solely for credit decisions “is a narrow view,” according to Daniel Parry, co-founder and chief executive of Praxis Finance. Lenders can also utilize alternative data to better manage other parts of the business, including in the collections process and to mitigate consumer fraud. PraxisRead More

4 Spot-On Resolutions for Auto Finance Execs in 2016

4 Spot-On Resolutions for Auto Finance Execs in 2016

Did you make New Year’s resolutions yet? Here’s our input, AFN’s list of four spot-on resolutions that auto finance executives should take note of in 2016.   1. Keep Up with Interest Rates The Federal Reserve’s 0.25% rate hike in December will not immediately affect the auto finance industry, analysts say. ThatRead More

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

Underbanked Are Not Always Subprime, FactorTrust CEO Says [VIDEO]

An underbanked consumer is not necessarily a subprime consumer, according to FactorTrust Chief Executive Greg Rable. “Ultimately, with the underbanked, the differences would be these consumers will have a bank account, they’ll have a job, and they usually just lacked traditional credit options,” Rable told Auto Finance News. In manyRead More