TargetPoint Alerts

With TargetPoint Alerts, lenders can receive notifications of consumers who are “in-market” by virtue of the following consumer-initiated inquiries: 

• Auto Loan Inquiry
• Bank Card Inquiry
• Home Equity Inquiry
• Mortgage Inquiry
• Personal Finance Inquiry
• Retail Inquiry

The associated consumers are delivered as alerts, whether they have initiated prequalification (soft inquiry) or have submitted an application for credit (hard inquiry).

By identifying consumers who are actively pursuing credit, TargetPoint Alerts enables lenders to reach consumers who are more likely to respond to offers, including those that are early in their decision-making process (i.e. at prequalification). An FCRA marketing campaign to consumers that incorporates TargetPoint Alerts should anticipate more conversions compared to campaigns that rely only on standard Prescreen criteria.

TargetPoint Alerts supports multiple FCRA-regulated use cases including:

• Customer Acquisition - Lenders can use the alerts for the purpose of “prescreening” with specific criteria (e.g. FICO > 630) and then extend firm offers of credit to consumers who are delivered as an alert.
• Cross-sell - Lenders may provide lists of deposit customers to Equifax. Equifax can monitor those customers and then alert lenders when those customers seek loans at competitors.
• Customer Retention - Lenders can use alerts to support retention for existing customers. For example, once a lender receives a notification that a customer is seeking credit at a competitor, they can initiate a customer call to see if the customer has additional credit needs.  
   

TargetPoint Alerts are based on both prequalifications (consumer initiated soft inquiries) and credit applications (hard inquiries).