Data is the lifeblood of the credit and lending process. Making an automated decision without it becomes nearly impossible, not to mention risk increases. Financial institutions used credit bureau data or just black box-created scores for years to dictate their decision-making process. However, with the extra pressure to control risk, scoring process transparency and alternative data sources have become increasingly more important. Yet, how should you use that data to make better decisions?
CRIF Lending Solutions offers two best-in-class components to enhance your data access and data attribute management needs without having to replace your entire loan origination system. Our components provide access to a wide variety of credit bureau and alternative data providers. Once the data is retrieved and formatted, the technology allows you to develop and implement scoring characteristics into the decision process without IT programming. Testing those characteristics can also be done right from your desktop.
Need more information about data access and attribute management? Schedule a consultation. Speak with a knowledgeable CRIF Lending Solutions representative to answer your questions, see a demo or discuss your project in greater detail. We have your solution!