Alternative Credit Data: Value Added Where It’s Needed

If your underwriting doesn’t include an analysis of alternative credit data, chances are you aren’t seeing the whole financial picture of your applicants. Whether you’re trying to evaluate a consumer with little to no credit history (thin file), or deciding to offer additional options to an improving subprime applicant, alternative credit data is crucial for making an informed decision and managing risk.
Alternative data fills the gaps that might exist in a traditional credit report for a comprehensive view of consumers. It goes beyond basic bill pay and tradeline information to show the number and recency of credit inquiries, potential fraud signatures and overall consumer stability – a powerful predictor of early payment default.

In the same way that Experian is the dominant consumer bureau for the traditional credit industry Clarity, a part of Experian, leads the subprime space. Clarity’s market-savvy data analysts can help you leverage alternative data to best serve your business needs. We provide innovative solutions for fraud, banking information, credit, compliance, prospecting and portfolio management.

To complement Experian’s vast national coverage, Clarity is an FCRA-regulated credit reporting agency that maintains the largest subprime database in the industry – currently over 62 million unique consumer identities (and growing).

In addition to quantity, our alternative credit data is focused on quality from relevant alternative finance providers, including:

Clarity’s exclusive consumer data extends far beyond basic risk scores to provide an expanded view of credit behavior and financial circumstances of consumers, especially in lower credit ranges.

Our vast assortment of alternative data:

• Opens new doors to creditworthy thin-file applicants
• Verifies consumer identities
• Gives insight into consumer stability
• Identifies consumers with no intent to repay
• Flags possible fraud ring activity in real time

Clarity has several solutions that offer this valuable insight, as well as cross-industry visibility. To grow your market share, or expand your opportunities with existing customers, take another look at alternative credit data before your next approval.