FCRA Data: The Key to Unlocking an Expanding Credit Universe | July 22, 2021
The use of expanded Fair Credit Reporting Act (FCRA) – or alternative – data has continued to gain popularity among lenders and financial institutions. Today’s volatile economy, exacerbated by financial disparities created by the pandemic, has highlighted the importance of financial inclusion and credit availability for unbanked and underbanked consumers.
Join Experian experts Alpa Lally, Vice President of Data Business, and David Elmore, Automotive Solutions Consultant, explore how FCRA data can benefit lenders of all sizes, improve financial access for consumers and reveal what lift it can offer when augmented with traditional credit data.
What we’ll cover:
- How leveraging FCRA data can provide a more holistic view of a consumer’s credit profile and behavior beyond financial services, leading to smarter, more informed lending decisions
- How expanded FCRA data is being used throughout the lending lifecycle
- Walk through a loan origination auto use-case
- Experian’s vision and strategy for FCRA data and ways to extend and improve the methods by which lenders evaluate borrowers’ risk