Is there a lack of demand for credit products among millennials? Are young adults considered to be “low score” and “no score” always high risk? View our webinar now to learn how declining millennials at a high rate could jeopardize your institution’s long-term success.
New research from ID:A Labs finds that using alternative credit scores for safe lending can dramatically increase the number of individuals that are considered eligible for credit.
Digital Enrollment Product Features Enhanced Capabilities to Streamline Applications and Verify a Consumer’s Identity
ID Analytics® a leader in consumer risk management, announces the launch of ID Connect 2.0, the latest version of the company’s digital enrollment product. ID Connect 2.0 significantly reduces data entry and friction in the new customer application process and helps companies boost conversion rates without increasing risk.
ID Analytics utilizes its proprietary ID Network – one of the nation’s only real-time, cross-industry compilation of identity information to glean insight into consumer identity behavior. This insight reveals anomalous and potentially fraudulent activity and has proven highly predictive in separating creditworthy consumers from those that are higher risk.
When evaluating a new customer, you need to know whom you’re dealing with at the most crucial moments. Utilizing ID Analytics’ authentication and verification solutions in a customer’s application process will allow you to effectively and efficiently meet compliance requirements while reducing friction and operational costs.
ID Analytics’ credit risk solutions let you make smarter lending decisions by pairing traditional credit data with powerful alternative credit data from wireless, banking and sub-prime markets. A complete and transparent view into consumer behavior will help grow your business without increasing losses.
ID Analytics’ fraud solutions can help your business evaluate applications and account changes effectively and efficiently by delivering an accurate view into fraud risk across multiple industries. Detect potential fraud before it affects your business and automatically approve more legitimate customers so you can focus your manual reviews on the few truly high-risk applications.