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ID Analytics Unveils Prescreen Credit Score
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Written by Cora N. McNulty   
Wednesday, 21 December 2011
ID Analytics, a leader in consumer risk management, today announced a new alternative credit scorethat has proven to help U.S. lenders and card issuers safely maximize their universe of prospects while minimizing risk. Credit Optics? Prescreen is the latest addition to ID Analytics' Credit Optics suite of alternative credit risk solutions designed to deliver accurate risk insights into a consumer's creditworthiness using real-time data not available from other sources. This new insight enables card issuers to reduce the cost per account to prescreen potential customers, both for direct mail and instant, or prescreen-of-one campaigns.

TowerGroup estimates that U.S. card issuers spend $5.3 billion annually on direct mail solicitations for new account acquisitions. This includes mailing countless offers to consumers that issuers will ultimately deem uncreditworthy. Leveraging ID Analytics' ID Network?, a proprietary network of unique identity data collected from a broad range of industries including telecommunications and payday lending, Credit Optics Prescreen can help issuers focus on new, profitable customers.

"Today, lenders rely on our Credit Optics solutions to fine-tune their credit decisioning processes at acquisition and to manage portfolios. Now, Credit Optics Prescreen is available to optimize investments in marketing campaigns targeting new customers by ensuring only creditworthy prospects receive the offers," said Steve Seoane, vice president, Enterprise Solutions for ID Analytics, Inc. "This is another way in which we are helping businesses to grow their portfolios safely by delivering a more complete picture of the consumer."

Credit Optics Prescreen is compliant with the Federal Credit Reporting Act and can be used to screen consumers for pre-approved credit card marketing campaigns. Key benefits include:

For more information about our Credit Optics Prescreen alternative credit score, please visit www.idanalytics.com.
Last Updated ( Wednesday, 21 December 2011 )