Clarity Services, Inc., is proud to announce its newest product: Clear Bank Behavior™.
With expanded visibility into both current and historical bank account usage patterns, Clear Bank Behavior™ provides Clarity customers with more than a view of a consumer’s current banking status at the time of the requested report; it provides extensive insight into banking activity over a five-year span. This expanded visibility is intended to assist lenders in evaluating consumer usage patterns by their behavior versus just a snapshot of data.
“Clarity continues to focus on developing the most robust products with an emphasis on fraud detection and credit risk management solutions,” said Lan Luangsouphom, director of product management at Clarity.
As with most of Clarity’s products, strategic partnerships with leading data providers result in highly predictive and effective data elements. It’s no surprise that Clear Bank Behavior™ incorporates not only Clarity’s proprietary data but also leading bank data, retail check writing, and check cashing activity information. Additional features include multiple bank account risk scores with reason codes, financial institution inquiries, closures of demand deposit accounts (DDA), inquiry velocity by account, and an account level fraud indicator – just to name a few.
“When we started the development of the Clear Bank Behavior™ product, we examined many data elements aiming to provide a complete picture of the consumer banking activity,” said Luangsouphom. “With Clear Bank Behavior™, Clarity is able to deliver a product that contains a full view of a consumer’s historical and current banking information.”
As the small-dollar lending landscape continues to evolve, Clarity continues to anticipate the needs of its customers with quality products that provide not just credit scores but superior insight into consumer credit usage and behavior.
For more information on Clear Bank Behavior™, contact us today.