defi SOLUTIONS, Experian collaborate for more robust underwriting
To borrow a term from one of its promotional campaigns, auto-finance underwriting is getting a boost via a new collaboration involving Experian and defi SOLUTIONS.
The firms recently announced that defi SOLUTIONS has teamed with Experian to bring Experian’s Premier Attributes to auto-finance companies. As part of the collaboration, provider using defi SOLUTIONS’ loan origination systems will have access to more than 2,000 credit attributes, including more than 100 that are specific to the automotive industry.
Clients can optionally access Experian’s Attribute Management Studio, which can provide the ability to define, code and manage attributes in-house.
Using these attributes, the fintech firms say that finance companies can develop a more complete understanding of an individual’s credit behavior, improve predictability and make smarter underwriting decisions.
Delivered through Experian’s Attribute Toolbox, Premier Attributes can enable finance companies to make more informed credit decisions across the entire customer life cycle — opening the door for growth, reduced risk and improved customer loyalty.
Experian added that its tool also can aggregate the freshest credit data available, potentially providing a significant performance lift over decisioning models built using other credit attributes.
“Experian’s focus on the delivery of high-caliber, relevant data meshes perfectly with the now and future of defi SOLUTIONS,” defi SOLUTIONS chief strategy officer Charles Sutherland said in a news release.
“We plan to continue working to not only increase the volume of information available to lenders, but also to develop services that further improve efficiency by enabling the lender to decide at what point the data is introduced into their decisions,” Sutherland continued.
Robert Boxberger, Experian’s president of decision analytics, added, “We are committed to providing lenders of all sizes with quality data-driven insights to more accurately predict credit risk and make sound lending decisions quickly — and that’s never been more evident than within the automotive industry.
“Our Premier Attributes help open the door for lenders to assess risk with decision strategies and credit scores that ultimately improve their bottom line,” Boxberger went on to say.
For more information about defi SOLUTIONS, visit https://defisolutions.com. To learn more about Experian’s Premier Attributes, visit https://www.experian.com/decision-analytics/premier-attributes.html.