PLANO, Texas -

Digital Matrix Systems (DMS) is looking to make its underwriting and risk mitigation products even more robust as finance companies continue to navigate through portfolio building.

On Tuesday, DMS announced the next generation of the company’s DMS Summary Attributes with the launch of Version 6.0.  Building on the legacy version’s long-term success, DMS highlighted Version 6.0 has been tailored to be more efficient and help finance comapnies gain even more predictive power in their models. 

The company said this set of 2,622 tri-bureau attributes covers 35 industry groups and nine risk categories. DMS added that 878 of the attributes leverage trended data that provides a clearer picture of future consumer behavior.

“Lenders must address a variety of factors in their risk models to ensure that they drive decisions that deliver the best outcomes,” DMS said in a news release. “As the economic environment and consumer behavior continually evolve, so should the variables that impact model development and performance. 

“Issues that lenders are faced with include the introduction of new types of fraudulent activity, customers that are under financial strain, and consumers that need access to loan products but have little to no credit history,” DMS continued. “When these issues are addressed effectively through enhanced analytics, both the lender and the consumer benefit.”

With complete coverage of the consumer credit file across multiple bureaus and bureau versions, the company pointed out that DMS Summary Attributes can deliver consistently derived attributes at all stages of the customer lending cycle. 

The attribute can provide increased predictive power through new analytic concepts and are designed to accommodate a broad spectrum of scenarios that lenders address while evaluating creditworthiness.

In addition to offering insight into consumer usage of different loan products and account types, the company mentioned DMS Summary Attributes can help assess risk across multiple categories including collections, delinquency, new credit, public records, usage and trend.

In support of financial risk evaluation, fraud detection, and marketing needs, these tri-bureau attributes can allow analysis of credit information with automated scorecards, decision platforms and application processing systems.  Clients can easily supplement with custom attributes if needed for their unique business needs.

The company went on to note that finance companies can gain multiple benefits from DMS Summary Attributes, including:

• Eliminate the need to code and validate attributes multiple times among various vendors such as the credit bureaus, loan origination systems, model developers and marketing companies.

• Solicit, manage, and monitor existing customer accounts, leveraging uniform financial risk evaluation throughout the lending cycle.

• Easily identify industry, attribute classes, and risk categories through a proprietary attribute classification system.

• Take advantage of new attributes and concepts that support the requirements of compliance officers and regulators.

• Leverage the marketing stage process from DMS that uses the same approval criteria for both marketing and production to ensure equivalent evaluation and generate a greater return of qualified applicants.

“Our team is thrilled to bring this new version of our DMS Summary Attributes to our clients,”, DMS executive vice president David Graves said in the news release.

“Version 6 introduces new consumer behavior concepts and predictive power that aren’t found in other solutions in the marketplace,” Graves continued. “These attributes are rooted in the experience we’ve gained over the last 23 years providing attributes and analytic services to leading banks and insurance companies.”