Alternative Data

See Beyond Traditional Credit

Expand Current Customer Relationships and Grow Your Business

Approximately 91.5 million consumers in the US either have no credit file, or have insufficient information in the file to generate a traditional credit scorei . These “credit invisibles” can range from millennials just entering the workforce to recent immigrants who have not yet established credit. By giving you increased detail around consumer transactions and financial behaviors outside the traditional credit file, Alternative Data can help you see beyond traditional credit to discover emerging risk and opportunity, expand your current customer relationships and grow your business.

Innovations in Credit Decisioning are accelerating the impact of alternative data/scores and advanced analytics such as AI and machine learning.


Benefits of Alternative Data

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Expand access to credit for consumers with thin and no credit files, and those working to improve their credit
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Make better decisions related to product offer, terms and underwriting with a more complete financial profile for consumers
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Monitor existing accounts for early signs of financial distress
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Get a more complete picture of a consumer’s ability and willingness to repay loans from non-traditional credit sources
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Improve the customer experience by automating income, asset and employment verification
Alternative Data Sources
At Equifax, we consider alternative data as any source of data beyond traditional credit file data. When paired with traditional credit information, alternative data can help strengthen business intelligence for a more proactive, customer-centric approach to account acquisition, relationship management and risk mitigation.
Alternative Scores
In addition, Equifax has created a series of industry-specific alternative data scores to help lenders and service providers solve for credit needs specific to the communications, automotive, retail banking and other consumer service sectors. By incorporating alternative data into their decision-making process, businesses gain deeper insight into their current and future customer base.
Credit Decisioning
Discover the impact of alternative data and scores and advanced analytics such as AI and machine learning


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[i]  Equifax analysis of credit activity, 2019