Report Finds Alternative Financial Data in Lending Could Help ‘Credit Invisibles’

Credit bureau reports have been the cornerstone of traditional underwriting practices, yet they exclude millions of consumers from credit and financial services due to the sometimes incomplete nature of the current system. Equifax estimates that 91.5 million U.S. consumers either have no credit file or have insufficient information in their credit file, leaving “credit invisibles,” Read more…

The post Report Finds Alternative Financial Data in Lending Could Help ‘Credit Invisibles’ appeared first on Datanami.

alternative data credit credit score data financial lending news in brief report underwriting