As the underbanked market grows, the need for more innovative solutions is keeping pace. FactorTrust addresses these needs with packaged and customized solutions that enable you to optimize your customer acquisition, decision-making, credit management and efficiency in every aspect of your consumer’s credit lifecycle.
FactorTrust data on underbanked consumers is not available from the three large credit bureaus, nor from anyone else. Our analytic expertise and our scoring solutions with this alternative data help you to better profile and assess risk on your thin-file or no-file prospects. These models have been developed as a result of expertise gained through our real-time data collection. We also have a long history of segmentation and analysis of underbanked consumers.
ApproveData is a unique credit marketing solution from FactorTrust that enables you to find more, profitable customers or get closer to those you already have. With ApproveData you can increase your response rates — up to 6x — over traditional direct mail response rates. Click here to learn more.
To improve your risk assessment of a new loan applicant, access FactorTrust proprietary and third party data sources of more than 800 data elements. From the consumer’s employment information to their banking relationships you get a detailed view of the consumer’s financial transactions. This includes learning about their check writing reliability, ensuring the consumer is who they say they are, and that you are making compliant decisions.
Monitor your customer’s account stability, employment, banking relationships and financial transactions using FactorTrust to proactively address customer needs and minimize risk. By staying on top of changes, you engage more with your customer through upselling or cross-selling services as well as identifying ways to help detect difficulties early to reduce your exposure.
In the event your customer becomes delinquent, prioritize your collection accounts using FactorTrust’s models to identify those individuals most likely to pay. Access fresh, unique data such as mobile phones, email addresses and employer names to help you track them down through the recovery process.