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Earlier this year, LexisNexis® Risk Solutions released a 4-part recording series on the topic of Alternative Data, explained by LexisNexis Director of Market Planning Solomon Semere.

As explained by Semere, Alternative Data is “information not found on a traditional credit repot but can reasonably and rationally be used for credit risk decisioning because it bears on a consumer’s credit worthiness – and that information is stored and used in a way that is compliant with all consumer protection laws such as the Fair Credit Reporting Act (FCRA) and the Equal Opportunity Acts (EOA).”

In order to get a better sense of what Alternative Data is and how exactly it can help with credit risk decisioning and lending practices, listen to the below recording series:

  1. Part 1: What Is Alternative Data? Listen to this recording to learn how we define Alternative Data, which requirements Alternative Data satisfies, and what the lifespan of Alternative Data is.
  2. Part 2: What Is the Value of Alternative Data? What’s the value of Alternative Data? Is it helpful only for subprime, or does it also help with prime or near-prime candidates? What does it help us measure/forecast? How widely adopted is Alternative Data? The second recording in the 4-part series answers these questions and more to drive the most value out of your data.
  3. Part 3: LexisNexis® RiskView™ and LexisNexis® Risk Solutions: How Does It Work? In the third segment of the series, we take a closer look at LexisNexis® RiskView™ and how it works to provide lenders with robust alternative data to better predict credit risk and ensure compliance. All of which helps bring alternative data to the mainstream for more credit opportunities.
  4. Part 4: An Alternative Data Case Study – Auto Lending: The last part of the series explores how a lender using RiskView™ can augment a credit profile with Alternative Data. Specifically looking at auto loan portfolios, a lender can determine which candidates in subprime, prime, superprime and unscorable segments of the population are creditworthy.

 

For more information on Alternative Data, contact us today.

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