Approve More Applicants and Manage Risk With Clarity's Next Generation Score
Clarity announces the release of a new, more predictive risk score for their banking product.
Clearwater, FL, March 10, 2016 (Newswire.com) - Clarity Services is pleased to announce the addition of a new, more predictive risk score to one of their most popular underwriting solutions, Clear Bank Behavior™. Not only is this new score more accurate in predicting first payment default, it specifically performs better in the lower score segments where many lenders choose to decline riskier applicants.
Developed using updated data from 2015, the new Clear Bank Behavior™ score provides a better contrast between defaulting and non-defaulting consumers than the first generation score.
“At Clarity Services we strive to continuously improve the predictive value of the scores and data attributes that comprise all of our product offerings,” said George Coutros, Clarity’s Chief Analytics Officer. “This new version of our Clear Bank Behavior™ score outperforms the previous one, with significant lift in the lower score bands. Many of our lender partners will continue to benefit from using our Clear Fraud™ and Bank Behavior™ scores as a foundation for their credit underwriting as they build profitable loan portfolios.”
Clear Bank Behavior™ provides insight on an applicant’s banking, check cashing and retail check writing activity, which can be a great indicator of risk. It also provides granular details about account statuses, account opening inquiries and possible fraudulent account activity.
About Clarity Services, Inc.:
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for the non-prime and thin / no file consumer segment. By leveraging unique data assets and scores, Clarity Services' suite of FCRA-regulated reports and scores empower providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit our website at www.clarityservices.com.