ID SCORE®-ACTION | NON-TRADITIONAL LENDING | OVERVIEW
Protection against
any loss, across every
channel
Making accurate funding decisions on subprime
consumers, who traditionally have poor or nonexistent
credit, is a challenge lenders have faced for decades.
Today the challenge is intensifying as subprime customers
continue to migrate away from the face-to-face interactions
of brick-and-mortar locations in favor of the privacy of
online lending. As the non-traditional lending landscape
shifts, lenders looking to make optimal funding decisions
need a solution capable of predicting all losses, both fraud
and credit, across brick-and-mortar and online channels.
Loss Focused Insight into
Subprime Risk
Leading non-traditional lenders trust ID Score®-Action to provide
complete on-demand visibility into the risk of potential customers. An
FCRA-compliant risk score, ID Score-Action delivers up-to-the-minute
risk insights tailored to the needs of the non-traditional lending market,
enabling lenders to make more aggressive funding decisions with
confidence.
Unlike traditional lenders in the U.S., lenders serving subprime
customers have always understood that, whether a result of fraud or
credit behavior, a loss is ultimately a loss. That’s why ID Score-Action is
optimized to predict all losses, rather than focus on specific loss types
such as first-party fraud, third-party fraud, or bad credit.
Fine-tuned to address the latest needs of the non-traditional lending
market, including high performance in the online channel, ID ScoreAction is setting a new standard in the industry for accurate risk
assessments on subprime and underbanked consumers.
www.idanalytics.com
|
[email protected]
|
Tel: 858.312.6200
Benefits of ID
Score-Action
• Industry-Leading Insights:
Unique and powerful visibility
into the real-time risk of
subprime consumers
• Enhanced Funding Decisions:
Confidently increase funding
rates while decreasing default
rates, by accurately identifying
consumers unlikely to repay
• Evaluate Every Applicant:
Including first-time nontraditional lending customers
ID SCORE®-ACTION | NON-TRADITIONAL LENDING | OVERVIEW
How ID Score-Action Works
ID Score-Action is a score that applies innovative analytics to a cross-industry compilation of
identity information and credit activity to assess the risk of fraud and credit loss associated
with the individual presenting a loan application. It is designed to help non-traditional lenders
balance the desire to maximize funding rates with the need to limit credit defaults. ID ScoreAction rank orders risk of non-payment with a three-digit score that ranges from 1 to 999.
Because it is an FCRA-compliant score, loan applicants with higher scores, and consequently
higher risk, can be outright declined while applications with lower scores can be automatically
approved and funded.
ID Score-Action is a hosted software solution that is easy to implement across all points of
customer interaction, including online, call centers, and in-store locations. The solution is
available to receive applications and return scores in batch processes or in real-time 24 hours a
day, seven days a week, 365 days a year.
ID Score-Action Performance on a Leading Subprime Lender’s Portfolio
50%
Default Rate
40%
Online
Brick and Mortar
30%
20%
10%
0%
10%
High Risk
20%
30%
40%
50%
60%
% of Funded Loans
70%
80%
90%
100%
Low Risk
Superior Performance from Superior Data
ID Score-Action has repeatedly demonstrated the strongest performance ever shown by a
subprime-focused credit score, widely outperforming previous versions and existing solutions
in the marketplace. The most notable advancement is the score’s enhanced ability to predict
losses in the online channel, providing a solution to one of non-traditional lending’s most
difficult and costly challenges.
At the heart of ID Score-Action’s industry-leading performance is the real-time, cross-industry
data in the ID Network. With 1.7 billion applications and events, over 250 million unique Social
Security numbers, and over 2.9 million confirmed frauds, the ID Network supplies the data
which allows ID Score-Action to provide a comprehensive fraud and credit risk assessment
on nearly 100 percent of subprime loan applicants. By tapping into the wealth of traditional,
alternative, and subprime credit data in the ID Network, ID Score-Action can deliver more
accurate risk assessments on more of your applicants, than any solution on the market.
Improve Insight into Subprime Consumer Risk Today
Turn to ID Score-Action to help your company fund more loans confidently, while minimizing exposure to losses.
Contact us today at [email protected], 858-312-6200, or visit www.idanalytics.com.