Post Tagged with: "Factortrust"

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

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

Alternative Credit Scoring Helps Widen Pool of Eligible Borrowers

Alternative Credit Scoring Helps Widen Pool of Eligible Borrowers

Alternative scorers have built models that report more quickly and frequently than traditional scorers, and have access to consumers that would otherwise be difficult to reach. These are the so-called ‘underbanked,’ a pool of consumers that use nontraditional financial services out of need or preference.