- Posted by FactorTrust
- On August 19, 2014
Integration of Deep Underbanked Consumer Data Provides Consumers with Greater Loan Choices
Non-prime auto lenders need access to detailed customer files in order to make informed lending decisions. In order to supply lenders with the depth of data needed, FactorTrust, the leading provider of underbanked consumer data, analytics and risk scoring solutions, announces today a partnership with defi SOLUTIONS, the industry’s leading browser-based Loan Origination System (LOS). Now, savvy auto lenders who utilize defi’s LOS system will have access to FactorTrust’s unique, highly predictive data, giving underbanked consumers faster loan approvals and offering lenders lower underwriting costs and more accurate pricing ability. Auto lenders who use defi’s system have the capability to control the entire application and funding process through a flexible software-as-a-service platform at an affordable price. Seamless integration with FactorTrust also allows defi lenders to access the most comprehensive underbanked consumer information on the market. This combined with traditional data sources offers defi lenders a competitive advantage when it comes to pricing and underwriting non-prime consumers.
“FactorTrust offers the most comprehensive underbanked consumer loan performance data in the industry,” states Stephanie Alsbrooks, CEO and founder of defi SOLUTIONS.
As the non-prime auto market has grown into an $89 billion dollar industry, so has the depth and breadth of FactorTrust’s proprietary data. FactorTrust has millions of data points on this growing segment and works with customers to provide instant, compliant and accurate data to support lending decisions.
FactorTrust has compiled the most comprehensive data on the underbanked market in the industry through lending portfolios that report data daily, in real time. This daily loan performance data on millions of underbanked consumers is analyzed and combined with leading third-party data attributes in order to provide instant lending decisions using the company’s comprehensive scoring platform. Lenders are continually faced with the challenge of how to effectively and intelligently manage risk to capitalize on this segment. This analysis uses data not typically reported to the credit bureaus, and is invaluable in helping consumers have access to better borrowing options, while also providing a more accurate assessment of the consumer for lenders.
For more information, please visit www.factortrust.com or contact FactorTrust at 1-866-910-8494.
About defi SOLUTIONS
defi SOLUTIONS provides an industry leading, browser-based Loan Origination System (LOS) that is completely configurable and easy to implement. The defi system allows auto lenders the flexibility to manage the application lifecycle from a single, flexible, SaaS platform. The defi LOS is affordable, scalable and easily accessible from mobile devices.