Alternative Credit Data

It is now possible for financing companies and lenders to exceed a standard credit report. This helps to better manage risk and identify consumers with low intention to repay. Alternative data is a great solution when working with the subprime and no credit market.

With Soft Pull Solutions, you’ll get access to alternative data for a fuller report and better picture to understand potential risks.

What does alternative data include?

Most industries view FICO and vantage credit scores when determining if a customer is high-risk or desirable for their business. However, there is now additional data that often does not get shown in a “standard credit report”. Using additional data helps financing companies better determine which individuals they can lend to with confidence.

Consumer stability data
Property ownership
Bankruptcies, evictions, liens, judgments
Identification information
Account types
A consumer’s contact details
Timeliness of payment
Payment history
Alternative credit loans
Alternative credit inquiries
Total number of bad loans
Total number of collections
Total loans charged off
Banking behavior
Short term credit risk
Short term credit inquiry attributes

To make a financial decision on an applicant, you can rely on alternative data to see the consumer's financial stability and prospects' ability to pay back loans. This helps lenders gain more insight when working with poor credit and consumers in the subprime market.

Want to See a Sample Report? If So, Let Us Know Which Bureau(s) You'd Like

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