A sound risk score that will help shorten credit assessment cycles, without compromising on profits for lending to individuals.
The Equifax Risk Score is a risk model that predicts the likelihood of an individual becoming delinquent (90+ days past due including charge-off, write-off, and other major derogatory events) within a 12-month period from the scoring date.
Who's it for
The solution can aid lenders
Better assess consumers to speed credit decisions
Credit portfolio managers
Identify cross-sell opportunities and areas of risk exposure
The score also helps Collections analysts
Assess likelihood of delinquency to inform collections efforts
The Equifax Risk score achieves a high degree of accuracy and an enhanced ability to enable lower credit costs and higher approval rates.
Increased accuracy through segmented scoring methodology
Enhanced risk assessment and reduced time taken for approval
Segmented view basis each loan product and their characteristics considered in the score development
Microfinance Credit Information Report
Enabling financial inclusion for those who lack access to conventional banking services