The Missing Piece: Alternative Financial Data

The financial crisis of late 2008 triggered a sharp increase in unemployment, seeing the rate jump from 5.5 percent to a high of 10.1 percent; a rapid reduction in consumer loans offered by large banks; and a staggering devaluation of home values resulting in foreclosures and strategic defaults creating a major shift in consumer FICO® credit scores.

It is believed that 30 to 40 million consumers experienced a negative change

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Why Alternative Credit Data Is Invaluable

Alternative credit data is often used as a catchall term to describe financial data. This data is typically sourced from alternative financial service providers and account aggregation, on consumers who are not abundantly reported on mainstream credit reports.

Other insightful details may include an individual’s income and employment history, coming from applications underbanked individuals submit for other alternative financial services. The aggregation of all these peripheral particulars can help paint

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Clarity Services, Inc. Celebrates 200th Customer: Customers Cite Easy Integration And Powerful Data As Drivers For Change

Press Release 09/02/2010

CLEARWATER, FL – September 2, 2010 – Clarity Services, Inc. announces the integration of its 200th customer today. Founded in 2008, Clarity Services has been serving financial institutions in the sub-prime and underbanked markets for two years.

“Clarity Services is excited to announce the integration of its 200th customer today,” said Brian Ketelsen, Chief Operating Officer. “Clarity is seeing a rapid increase in its customer base that I

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