- Posted by Laurie Anderson
- On August 4, 2017
Proprietary, real-time alternative credit data to enable more complete analysis of its underwriting portfolio
ATLANTA—FactorTrust®, The Alternative Credit Bureau™, today announced the addition of Lobel Financial to its growing list of financial service companies implementing its alternative credit data into their credit decisioning process.
Lobel Financial, a consumer finance company specializing in purchasing and servicing automobile contracts from independent and franchised automobile dealers, is using FactorTrust data in a custom scorecard to augment other inhouse credit strategies.
The company selected FactorTrust to implement its alternative credit data to help them achieve more lift and better separation of good and poor credit performers.
“We looked closely at what FactorTrust could offer, and decided that its many attributes, delivered in real-time, would help us best reach our goal of establishing enhanced segmentation for the development of our new internal scorecard,” said Lobel Financial President Harvey Lobel.
“Using alternative credit data is a proactive choice for industry leaders like Lobel Financial, who are faced with the challenge of effectively and intelligently managing risk on the underbanked market,” said FactorTrust CEO Greg Rable. “The addition of FactorTrust’s proprietary data opens up their options in determining the best credit performers for their business. It allows a complete picture of consumers, who are often considered credit invisible, but are really just credit inaccurate due to lack of data.”
FactorTrust has long-provided alternative credit data, analytics and risk scoring information that lenders need to make informed decisions about consumers. It is differentiated from the Big 3 bureaus by its more than 250 million unique, behavioral and transactional data points untapped by these traditional sources.
FactorTrust, The Alternative Credit Bureau, is relentlessly dedicated to proven analytics and clean credit information that provide lenders and financial service providers opportunities to grow more revenue, meet compliance regulations and serve more consumers with more credit options. At the core of FactorTrust is alternative credit data analytics and risk scoring solutions not available from the Big 3 bureaus. FactorTrust alternative credit data and analytics accurately predicts risk and the ability to repay near and non-prime consumer loans in real-time. The company’s solutions enable financial service companies an opportunity to uncover creditworthy prospects that are not surfacing via traditional credit sources. Headquartered in Atlanta, the experienced FactorTrust team has delivered unique data and valuable insight to U.S. lenders for more than 10 years. For more information on the FactorTrust Underbanked Index – Auto version or the company itself, visit www.factortrust.com.
About Lobel Financial
Lobel Financial is an indirect motor vehicle sales company specializing in purchasing and servicing motor vehicle contracts from independent and franchised automobile dealers who have prime and non-prime consumers purchasing new and used automobiles. Lobel Financial offers wide spectrum financing to dealers, financing all types of consumers with varying credit profiles. The company is managed by the four Lobel brothers, along with their experienced management team.
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