General Session 7: Data - The Key to Higher Acceptance Rates and Lower Risk (Provenir)

As an industry, we’ve relied on credit bureau information to make decisions, but what happens when there is only a thin file, or worse, a no hit? We either just say ‘no’, or we introduce friction through manual processes to verify someone’s credit worthiness. But that means less inclusive credit, less approvals, and less opportunity for business growth. It’s time to look at alternative data to improve processes. But what types of data and when? This session explores different data types that can be used to improve the customer experience and capture more market share.