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Alternative credit reporting relies on different types of financial data such as utility payment history, rental payment history, and information from alternative financial service providers, like short-term lenders allowing previously invisible consumers who were considered high-risk to have greater access to opportunities when it comes to borrowing.

Using an alternative credit data source lets you make a credit decision based on a more complete profile of the applicant.

Instant Bank Verification has a lot to offer lenders of every type. It is especially useful, though, for lenders who specialize in the types of loans identity thieves frequently target.

Alternative consumer credit data offers information about consumers, specifically credit applicants, that does not appear on traditional credit reports.

Entrepreneur Magazine reports that companies who invest in background screening, including consumer credit reports, do better jobs, in most circumstances, when hiring new staff.