- Posted by Laurie Anderson
- On January 12, 2018
- alternative credit data, Auto, FactorTrust, TransUnion
by Brian Landau, SVP and auto business leader, TransUnion and Randy Bobb, Vice President, Sales, Auto Finance, FactorTrust | TransUnion
When it comes to helping auto financing sources improve profitability in the new year, one crucial element is alternative credit data. Several years ago, this type of data was still in its infancy. But in 2017, we saw alternative credit data begin to turn the corner. Now we are seeing many lending institutions beyond traditional finance companies not only considering its impact, but fully embracing alternative data. Use cases have shown that alternative credit data has helped with loss mitigation and pricing, as well as expanding the consumer universe for financial service providers. While it wasn’t long ago that alternative credit data was considered an emerging concept, it is now becoming increasingly more mainstream.
Reposted from Non-Prime Times…read full article