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What are the primary benefits of using Truv's Scoring Attributes for consumer lenders?

The primary benefits of using Truv's Scoring Attributes for consumer lenders include:

  • Reach New Levels of Predictive Power: Enhance the accuracy of risk models using comprehensive transaction data.
  • Lower Risk: Gain the ability to predict default rates quickly and accurately.
  • Tap into Underserved Segments: Confidently assess subprime, new-to-credit, and other underserved segments of the population.
  • Identify Qualified Applicants: Unlock more applicants by powering accurate risk models, addressing the issue that over 40% of the population has a low or no credit score.
  • Eliminate Manual Work: Avoid the need for manually interpreting transaction data or building/maintaining self-created attributes.
  • Leading Data Accuracy: Truv attributes have demonstrated up to .29 PPT higher AUC than competitors, leading to more qualified applicants.