Chicago-based TransUnion has launched two new analytic products - TransUnion Links and TransRecovery - for online credit decision-making and collections scoring.
TransUnion Links streamlines the online credit decision-making process by enabling lenders to automatically co-ordinate their use of multiple credit scoring systems. Credit grantors incorporate their own screening logic, cascading applicants through a series of customised credit score screens.
Chet Wiermanski, vice-president, TransUnion, says that TransUnion Links is distinctive because it enables lenders to automatically determine when to obtain certain credit scores. "This provides lenders with an unprecedented level of flexibility."
TransRecovery has been developed to help customers maximise their collections and recovery efforts. It is designed to predict the likelihood of collecting $50 or more from severely delinquent accounts within 12 months of scoring.
The company says that TransRecovery has outperformed other products when tested across a wide variety of collections and recovery performance definitions. Based on information in a consumer's credit file, TransRecovery returns a reliable score even when a credit file contains minimal or `stale' credit information, according to the company.