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MicroBilt
Announces Launch
of FICO Expansion Score
The FICO Expansion Score will help you serve
those customers who typically have little to no credit
history. Developed by Fair Isaac, The FICO Expansion score is
a credit risk model based on a broad set of alternative data
sources.
Of the 215 million credit-eligible consumers
in the US , about 25% have little or no history at the three
major US credit reporting agencies. Many consumers are unable
to participate in mainstream consumer finance as they lack
sufficient data at the credit bureaus to generate a
traditional FICO risk score. As a MicroBilt System’s
Integration customer, you now can be one of the first to
deliver this alternative score through your system application
allowing users to quickly assess the risk of these underserved
consumers in a quick, reliable and cost efficient manner.
Developed by Fair Isaac and their high standard
of predictive analytics. The score includes aggregated data
from both positive and negative non-traditional credit data
sources.
These sources include:
- Application data
- In the case of thin files, data returned
from bureau
- Payment history from rental activity,
utility and phone bill payments, membership payment
obligations, retail purchases, checking and debit account
activity and more!
One of the first to partner with Fair Isaac,
this product will soon be available through
CreditCommander.com as well. Users will have the option of
automatically or manually requesting a FICO Expansion Score
whenever a “no hit” or “thin file” is received.
For more information, please
contact:
Mike Poelvoorde at 1-800-884-4397 ext. 4443
or by
email at Mike_Poelvoorde@MicroBilt.com.
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CreditCommander.com now supports all business
report formats for Experian Business Reports. These formats
include:
BUSINESS PROFILE
REPORT
Experian's most robust and comprehensive
business credit report provides actual trade payment
experiences, public record information, company background,
and comparative data, placing a company's payment performance
in context with its industry. The Business Profile report
presents a current, objective picture of how a business
handles its financial obligations.
COMMERCIAL
INTELLISCORE
This report uses Experian's proprietary business
credit data to assign a credit score to each company so you
can use the score to set credit parameters.
SMALL BUSINESS
INTELLISCORE
Combines consumer and business credit data to
establish an accurate score for companies with limited credit
histories.*
GENERAL BUSINESS
INTELLISCORE
Measure the predicted risk level of your
business prospects with greater speed and confidence. Using
enhanced statistical models to predict and measure business
risk level, Intelliscore provides a credit risk score of 0 to
100 on each potential customer. Target only customers in a
desired score range, or adjust your offers to fit different
segments.
*When accessing personal credit information
on the business owner, you must conform to permissible purpose
requirements as stated in the federal Fair Credit Reporting
Act.
New Decision
Table Rule Added
As a System’s Integration Tool Kit customer
you have access to an automated decisioning tool for instant
decisions based on credit data variables and credit criteria
you define. Since its inception, Decision Table has grown from
just a few rules to over 100 possible rules based on consumer
and commercial bureau scorecards, credit data and application
data variables. Recently added to MicroBilt’s Decision Table:
- Expanded Number of Trade Lines
Decision Table is the product it is today due
to our customers’ requests for further development based on
their decisioning needs. As we continue to develop and improve
this product, please let us know what other application or
credit variables that you would like to see added.
For more information, please call us at 1-800-884-2733.
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