Advanced Score of Scores delivers a single, comprehensive, composite score using commercial and personal credit information from multiple sources. It leverages, builds upon and extends credit scores that are already being used. Hence, it can be implemented easily, with limited disruption to current processes. This empirically derived statistically sound score is ideal for lenders that may lack resources, time or sufficient historic data to build a statistical model.
Higher hit rates, greater predictive lift
Recent analysis of PASS in a banking environment demonstrated powerful results:
ROC = 0.820, a 36% increase in predictive lift over using just a single commercial credit score
K-S = 49.3, a 39 % increase in predictive lift over just a single commercial credit score
This increased predictiveness can be used to reduce losses by 26% without reducing originations, or to increase approvals by 16%, representing a substantial growth opportunity.
Aggregated Data for Faster Decisioning and Reduced Costs
When it comes to credit, more and more borrowers are expecting a faster, more efficient underwriting process coupled with the highest levels of customer service. Read this case study to learn how our client achieved a 20% increase in predictive lift and a 37% increase in “hit rate” by leveraging Advanced Score of Scores.