Clarity Services, Inc. announced today the patent-pending status by the U.S. Patent Office that covers systems and methods for aggregating and providing data pertinent to the extension of financial or commercial transactions. This new application, called Temporary Account Record, will facilitate lender due diligence in determining a consumer’s ability to handle new debt.

Lenders frequently do not have the most current data on consumers with which to make the best lending decisions. This is due to a lag time suffered when data is reported to traditional credit reporting agencies. When an extension of credit or a loan is made to a consumer, a lender will generally only report the transaction on a periodic basis, often ranging from one to six weeks. Even in a situation where the lenders are reporting new tradelines and tradeline updates in real time, they typically do not report new loans until the loan has funded. This funding and reporting lag can be as long as 36 hours. During this time, it is possible for a consumer to obtain credit or a loan from additional lenders and none of the lenders would be aware of the transactions between the consumer and other lenders.

With the absence of lag time, a lender pulling new reports on a consumer would be aware of any transactions between the consumer and other lenders, and the knowledge of other transactions may likely have an impact on the decision to extend credit or make a loan.

“Clarity’s new system and process enables aggregation and reporting of approved-but-not-yet-formally-reported commercial transaction data such as loans, credit cards, insurance, commercial contracts, etc., between a consumer and a lender,” said Tim Ranney, president and founder of Clarity Services. “Not only does this capability close the reporting gap and improve a lender’s product performance but it will also be essential in enabling lenders to meet many of the proposed small-dollar lending regulations.”

Temporary Account Record will be debuted in Clarity’s risk solutions suite and will be available for use by Clarity customers. For more information on Clarity’s risk solutions, please visit

About Clarity Services, Inc.:
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for the non-prime and thin/no file consumer segment. By leveraging unique data assets and scores, Clarity Services’ suite of FCRA-regulated reports and scores empowers providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit