As storefront customers and other borrowers evolve, lenders are facing more disruption than ever – from changes in regulation to applicants who are actively seeking alternative sources of credit.
By using nontraditional credit data from Clarity, now a part of Experian, subprime lenders can protect their business with comprehensive customer insight. This includes receiving alerts when customers are shopping for new loans, delinquent with other lenders or involved in potential loan stacking. Our data provides critical information on first-time customers, helps identify those who don’t intend to pay and mitigates the risk of first-payment default.
New consumer segments, market migration & evolving spending habits demand a new perspective on lending practices. Visit booth #201/203 at this year’s AFSA Independents Conference to see how alternative credit data helps lenders thrive while navigating those changes.
Experian and Clarity Services: Financial Inclusion
As the leader in alternative credit data, Experian — through its acquisition of Clarity Services — now has increased visibility on more than 62 million consumers who rely on installment lenders providing personal loans and subprime auto finance companies.