Clarity’s alternative data comes from a variety of financial service providers, including auto financers, short-term installment lenders, small-dollar credit lenders, online small-dollar credit lenders, telecommunications and more.
When this information is combined with a traditional credit report, you have a much better picture of who your applicants are and the level of risk they truly represent.
1. Real-Time Reporting
In the subprime market, it is especially crucial to have real-time access to financial records. This is a fast-paced marketplace and access to loans is only a click away. For a lender to make an accurate determination of creditworthiness, they must know what happened this morning, not three weeks ago.
2. Largest Footprint
Clarity’s database contains over 55 million unique consumer identities and that number continues to grow. This is more than any other subprime bureau, giving us the largest footprint in the subprime market. Don’t waste time with other bureaus; we have what you need.
3. Proactive Compliance Solutions
Regulatory compliance is a headache for most financial institutions, and it isn’t going away. Let us carry some of that burden. Clarity looks ahead toward proposed or emerging regulations and designs solutions for our customers to meet them head-on. You maintain compliance and avoid costly interruptions to your business.
4. Dedicated Fraud Team
Fraud is increasing in scope and complexity, and many of the fraudsters start in the subprime market before moving on to larger targets like banks. Clarity has more than just a fraud product; we have a dedicated fraud team. We identify fraud signature hits on applications and keep our customers informed about fraudulent activities, including known fraud rings.
5. Numerous Customizable Solutions
Clarity’s solutions are designed to allow customers to customize reports to their specific needs. We offer solutions for underwriting, fraud detection, regulatory compliance, risk management and more. We are continuously improving and expanding our offerings to respond to our customers’ needs.
6. Data-Backed Research
Clarity created nonPrime101, which presents unbiased and empirical data studies that show the credit usage behaviors, activities, and needs of non-prime consumers. The goal of our research arm is to educate and guide researchers, regulatory bodies, and industry leaders to understand the behaviors and trends of these consumers.