Since the last U.S. recession in 2008, financial risk management has seen significant changes. Lending requirements are tighter, verification procedures enhanced, and organizations have new ways to better manage risk — while still being customer friendly. As the economy soars through one of the longest periods of growth since WWII, it’s easy to get complacent. It’s also tempting to relax financial standards, especially since technology has changed customer demands and expectations. Read More

Getting Back to the Future of Credit | October 22, 2019

Did you know that the concept of credit has been around for over 5,000 years? While the methods for evaluating credit have evolved over time, one thing has remained constant: the better someone knows you, the more likely you are to be extended credit. Read More

Approximately 91.5 million consumers in the U.S. either have no credit file, or have insufficient information in the file to generate a traditional credit score. These “credit invisibles” range from millennials just entering the workforce to recent immigrants who have not yet established credit. In the U.S., consumer-permissioned data empowers these individuals to leverage their online financial data (checking, savings and investments) and payment histories to gain better access to loans and other services. This alternative source of data can deliver a far more holistic, comprehensive, and verified view of a consumer’s financial picture. Read More

How fragile is the economy? Many question how soon the U.S. will fall into the next recession. A phrase that often comes up in conversation to describe the stability (or lack thereof) of the U.S. economy is “economic fragility”. What exactly do we mean by “fragility”? Dictionary.com defines the term as:

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Credit through the Ages: Where it all Began | April 27, 2018