Integration of Deep Underbanked Consumer Data Expands Loan Choices for Borrowers
FactorTrust, The Alternative Credit Bureau, announces partnership with White Clarke Group, the global first-class provider in end-to-end automotive and asset finance software for retail, floorplan and fleet.
Now, savvy auto financial service providers who utilize White Clarke Group’s CALMS loan management solution will have access to FactorTrust’s unique, highly predictive alternative data, giving underbanked consumers faster loan approvals and offering financial service providers lower underwriting costs and more accurate pricing ability.
“As a company dedicated to innovation, this seamless integration with FactorTrust’s underbanked consumer loan performance, stability and employment data allows our customers access to the most comprehensive alternative credit information on the market. This, combined with traditional data sources, offers financial service providers a competitive advantage when it comes to pricing and underwriting non-prime consumers,” states Jonathan Dodds, CEO Americas of White Clarke Group.
“We are proud to partner with White Clarke Group to help our mutual clients succeed. It’s important to recognize the need for using alternative data during the underwriting and portfolio management processes – data not available to them elsewhere and not reported to the Big Three credit bureaus — to help businesses grow and provide more non-prime consumers the options they deserve,” says Greg Rable, FactorTrust CEO.
White Clarke Group & FactorTrust partner to give auto financial service providers greater competitive advantage
FactorTrust, The Alternative Credit Bureau, is relentlessly dedicated to proven analytics and clean credit information that provide lenders opportunities to grow more revenue, meet compliance regulations and serve more consumers with more credit options. At the core of FactorTrust is alternative credit data not available from the Big Three bureaus (Experian, TransUnion and Equifax) and analytics and risk scoring information lenders need to make informed decisions about the consumers they want. FactorTrust Alternative Credit Data and Analytics accurately predicts risk and the ability to repay near and non-prime consumer loans in real-time. The company’s solutions enable financial service companies an opportunity to uncover creditworthy prospects that are not surfacing via traditional credit sources. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for more than 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.