Alternative Credit Data Impacts:
Credit Application Approvals
Establishing Loan Amount, Price and Terms
Managing Existing Accounts
Supplementing Existing Evaluation Processes
Supplementing Collection Activities
Near term alternative credit data solutions are built on transactional data from the last 24 hours to 90 days. This single customer view is built by uniting approximately 350 million driver’s licenses, 192 million social security numbers and 450 million bank account numbers.
Number of underbanked US adults
Gain additional insights into the financial activities of consumers.2
Of consumers are credit invisible
Identify those with active bank accounts and history of successful transactions.1
Of US population score below 650
Find the best within the lower scoring segments. Effectively manage accounts.3
Points millennials score below average
Millennials use credit differently than older populations. Understand their activity.4
Understanding and scoring the full scope of consumers’ behavior creates the clearest picture of early risk and opportunity indicators compared to traditional scoring. Use of micro indicators enhances and eases segmentation. Access account accuracy and status using bank information, allowing Nacha compliance.
Returns a score from 1 to 1000, indicating a measure of consumer payments behavior.
Returns a customized set of attributes, include counts, amounts and dates of various information.
Returns a score indicating any bank info presented such as “Account Closed” or “Administrative Returns."
The real-time component that captures consumer payment performance, TeleCheck Micro Indicators enable a deep-dive into a combination of elements that predict credit risk and consumer ability and willingness to pay. Gain insight that goes beyond typical data attributes with over 150 Micro Indicators available for custom analysis and modeling.
Number of approved transactions: last 24 hours
Dollar value of approved transactions: last 90 days
Number of days since most recent unpaid transaction
Number of days since most recent transaction
Dollar value of internet transactions: last 24 hours
TeleCheck is regulated as a consumer reporting agency under the FCRA. As such, TeleCheck maintains policies and procedures which are designed to, among other things, help provide consumers with files report disclosures, reinvestigate disputes and purge derogatory data more than 7 years old.
Assist in providing bank account authentication which is required under Nacha rules. We are recognized by Nacha as a preferred partner for payments and financial services.
MODEL AND ATTRIBUTE GOVERNANCE
TeleCheck Micro Indicators data attributes are subject to rigorous governance, focusing on data quality and relevance as well as appropriate documentation.
We will work with you to understand your business needs and show you how to best leverage our solutions to make your vision a reality.
Sources: 1. Consumer Finance Protection Bureau, “Who are the Credit Invisibles?” 2016. 2. FDIC, “National Survey of Unbanked and Underbanked Households” 2017. 3 Experian, “650 Credit Score, Is it Good or Bad?” 2020. 4. Experian, “Millennial Credit Scores Lag Behind Other Generations” 2020.