Gain a deeper view of creditworthiness
Alternative credit data provides a clearer view of a consumer’s financial situation and ability to pay. Types of alternative credit data used across the credit spectrum include user-permissioned account data, cashflow transactions, rental data, property data, income data, and full-file public records, as well as data from nontraditional lenders such as single pay, rent-to-own, title loans and short-term installments.
Measure credit risk
Mitigate risk, make smarter decisions, and seize new opportunities with reliable and relevant data. The expanded view helps shape better decision-making and credit assessment to more easily identify high-risk applicants and implement precise and predictive underwriting strategies.
Accelerate financial inclusion
Millions of consumers and businesses lack the credit history needed to establish a credit score. With alternative data sources, financial institutions can improve the methods by which they evaluate underbanked consumers to facilitate first and second chances for borrowers and increase the number of profitable loans in their portfolios.
106 million
Adult Americans, many of whom may be creditworthy, lack access to mainstream credit rates.
96%
of U.S. adults can be scored by incorporating alternative credit data and advanced analytics into your lending process.
19%
is how much lenders could grow their pool of new consumers using modern scoring models.
Frequently asked questions
Alternative credit data is FCRA-regulated (displayable, disputable, and correctable) data that is not typically included in traditional credit reports and drives greater visibility and transparency around inquiry and payment behaviors, so businesses can gain deeper insight into creditworthiness and make more precise decisions.
Learn more about what is alternative credit data.
Some examples of alternative data sources include non-traditional lenders, user-permissioned account information, full-file public records, cash flow transactions, rental payments, property data, and verified income.
By combining information from traditional sources and expanded data lender can obtain a more holistic consumer view. Drawing on alternative data sources may help lenders widen their pool of applicants who meet their eligibility requirements. With clearer visibility into stability and resiliency, businesses can more easily identify risky consumers, better predict future behavior and deliver the best treatment option based on their specific situation.
Experian offers specialty scores and custom models to help organizations gain a deeper view of consumer credit behavior and improve prospecting, acquisitions, account management and collections. Our tailored scoring solutions combine the power of traditional and alternative credit data to enhance predictive performance across the entire credit spectrum and add the greatest performance value among credit-invisible and thin-file consumers.
*"Alternative Credit Data,” refers to the use of alternative data and its appropriate use in consumer credit lending decisions, as regulated by the Fair Credit Reporting Act. Hence, the term “Expanded FCRA Data” may also apply in this instance and both can be used interchangeably.
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- Advanced Analytics & Modeling
- Collections & Debt Recovery
- Customer Management
- Credit Decisioning
- Credit Profile Reports
- Data Reporting & Furnishing
- Data Sources
- Data Quality & Management
- Fraud Management
- Identity Solutions
- Marketing Solutions
- Regulatory Compliance
- Risk Management
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