In today's highly competitive lending environment, not only accuracy in credit decision but also the time to acquire a customer is of the essence – therefore, lenders are increasingly adopting alternative scoring to make faster and more informed decision. Alternative credit scoring refers to the use of non-traditional credit information to assess credit worthiness of the applicant. CRIF Philippines offers below alternate credit scores:
- Telco Score: uses the telco information to compute score which predicts the probability of default.
- Psychometric Score: predicts the probability of default using the information collected from applicant through an interactive quiz and metadata.
- Transaction Score: predicts the probability of default using the Visa credit/debit cards transactions.
Alternate credit score has proved an important tool to empower the lenders to tap the segment of New to Credit(NTC) which has immense growth potential. As a lender, using alternative credit scoring with CRIF, you get to:
- Make more informed decision to assess credit worthiness
- Increase market reach by accepting profitable New to Credit(NTC) applicants
- Improve customer experience by automating decision
- Assess the performance of these scores by retrospectively scoring your acquired customers
- Integrate seamlessly in your existing origination system
- Leverage CRIF’s experience to consult on incorporating this in your existing credit assessment framework