"The most vital resource in the modern economy is data, and one of the challenges facing businesses today is combing through massive amounts of it to find actionable insights. It can feel like you are searching for a needle in a haystack," said
The value in trended data is a combination of the right type of data sources and solutions which interpret what the data reveals. Extended Trade's unique capability is to uncover granular data and provide strategic actions for lenders on how and what to market to consumers. Understand how a consumer spends, their current estimated interest rates, potential profitability and the number of months remaining on their loan term for each trade. This unique data and technology allow lenders to offer consumers the right financial products based on their needs and behaviors.
The Credit3D suite is a holistic and multidimensional approach to lending, powered by
- Increase response rates by identifying consumers who are in the market for specific financial products
- Reduce loan losses by delivering trends and metrics that signal positive and negative changes to a consumer's financial situation — providing a deeper level of information than a credit score
- Improve attrition and lifetime value by providing industry-specific data strategies that identify more profitable consumers and those more likely to be loan hoppers
"A credit score is useful but is merely a snapshot. Knowing a consumer's credit information at a single point in time tells only part of the story," said DeSaulniers. "For a holistic view of a consumer's credit behavior, you need to look at their historical data to determine their financial needs and to understand how they really are managing their finances."
To learn more about
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision-making. We also help people to check their credit report and credit score and protect against identity theft. In 2016, for the third year running, we were named one of the "World's Most Innovative Companies" by
We employ approximately 17,000 people in 37 countries and our corporate headquarters are in
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/experians-evolution-of-trended-data-goes-beyond-credit-scores-to-predict-risk-and-future-financial-behavior-300361661.html