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ABA Web Seminar: Traditional lending to non-traditional customers

Traditional lenders looking to move down-market are seeking ways to grow their business without increasing portfolio risk.  Many of these near-prime consumers are more credit worthy than their score from one of the traditional credit bureaus would indicate.  And some of them are worse.  The key to understanding which consumers to lend to in the near prime market requires more effective use of alternative data.  Unlike public record data, alternative credit data provides additional insight into consumers with a below-700 FICO score by using unique data attributes. In addition, behavioral data and analytics is enabling creditors to identify upwardly mobile consumers.

If you are a lender contemplating servicing non-traditional consumers – new data may provide you with fresh insights. This data could help you to not only identify new customers but create new products previously unavailable because of the limitations of traditional data.

Here’s what you can expect to gain from the web seminar:

  • More insight into consumers with credit scores below a 700 FICO
  • A clear view of the breadth and depth of the alternative data landscape
  • Better understanding of the differences between traditional and alternative credit data
  • Knowledge of what public record data is good for… and why it isn’t as predictive as alternative credit data
  • Awareness of the value of alternative credit data in determining creditworthiness in underwriting, account management and portfolio reviews
  • The power of financial literacy in improving a consumer’s creditworthiness

Watch the web seminar now!

ABA Web Seminar: What to Know About the CFPB’s Proposed Rule and ATR:

In its efforts to crack down on the consumer-unfriendly practices of small-dollar lenders and some auto lenders, the Consumer Financial Protection Bureau has proposed a set of rules that would require all providers of short-term loans, including banks, to take a number of steps to protect borrowers.

This webcast will explain:

– the compliance requirements of the Proposed Rule and how to proactively address them

– whether the Proposed Rule should be enhanced to address current lending risk models

– how the proposal for debt registries could actually help lenders.

Additionally, the expert panel will explore how alternative data that supports CFPB compliance also creates opportunity for short-term lenders, financial service providers, banks and credit unions.

Watch the web seminar now!