Credit agency Experian has launched a new risk management tool that enables US bankcard issuers to assess the credit score of potential borrowers and tailor products according to customer needs.
"Serving consumers with emerging or problem credit histories can be very profitable for lenders, provided the extra risk involved is carefully managed," says Charles Chung, vice president of information intelligence for Experian.
The SureView system can be used in online applications for new account approval, for prescreen and account management programs in the batch environment, or as a dual-tool strategy in conjunction with bankruptcy models, says the company.
Chung claims: "Based on client validation results, we are confident that SureView is significantly more predictive than traditional risk models for lenders serving the non-prime market."