Retail Banking Insights

Trended Data – Impact on Credit Decisions

In a previous post – Trended Data – Becoming Mainstream, we defined trended data and shared how the use of trended financial data is becoming mainstream in the mortgage industry. In this post, we’ll share an example of how a lender might use trended data in their everyday decision-making process. As a reminder, trended data [Read More…]

Are American Consumers Taking On Too Much Debt?

How much consumer debt is too much? This infographic from Visual Capitalist uses extensive Equifax data to try and answer this question. Courtesy of: Visual Capitalist

Trended Data at Equifax

In our previous blog post, we discussed how trended data is becoming mainstream, providing a simple definition and examples of how trended data is used today. In this post, we’ll share how Equifax uses trended data and the benefits of incorporating external insights into your decisioning process. To help our customers grow revenue and better [Read More…]

Bank Marketing: The ‘To-Do’ List Has Gotten a Lot Longer

Bank marketing has gotten a lot more complicated in the last 15 years. It used to be that a bank marketing team might consider that they were doing a good job if they sent a few direct-mail pieces promoting new product options, assisted with publicity for new branch openings, and organized some market research around [Read More…]

Trended Data – Becoming Mainstream

Businesses continue to face ever-increasing regulations and ever-decreasing margins. Financial services, utilities and communications industries alike are seeking ways to drive more profitable growth while controlling expenses and staying within desired risk thresholds. Today, trended data solutions are helping companies expand their customer universe and improve risk decisioning, delivering positive impact to the bottom line. [Read More…]

TCPA compliance is serious business

Lessons learned from a top Fortune 500 company Few phrases evoke instant anxiety in business like the words “class-action lawsuit.” Yet, that’s exactly what many companies are being faced with under the recently amended Telephone Consumer Protection Act (TCPA). Though it has always included tight restrictions on telemarketers, as many companies have learned, the latest [Read More…]

HENRYs Represent a Starting Point, Not a Target Affluent Audience

Recently, the concept of the HENRY — High Earner, Not Rich Yet — has become very popular with marketers, especially those looking for audiences with the potential for high discretionary spending. Advertisers looking to reach consumers on their way toward affluence have likely viewed this audience as the perfect target for their advertising campaigns. In [Read More…]

MLA Final Rule: Updates based on the August Interpretative Rule

As the Department of Defense’s (DoD) Military Lending Act (MLA) Final Rule (also known as the July 2015 Final Rule) takes effect October 3, 2016, many lenders are still struggling to understand just how these updates will impact them. Are their loans covered? Are they not? Do they need to create two sets of disclosures, [Read More…]

MLA Covered Borrower Status – Are you Ready for Oct. 3?

Beginning October 3, 2016, the burden will now be on financial institutions—not applicants—to confirm an applicant’s MLA covered borrower status in accordance with the changes made to the Military Lending Act (MLA) of 2006. The following questions can help you determine if this change applies to your financial institution. Do you provide consumer credit to [Read More…]

As Regulatory Requirements Evolve, Robust Data and Configurable Services Are Key

Businesses are constantly in need of comprehensive services that provide deeper insights to help mitigate risk and meet regulatory requirements. Organizations must truly know their customers, vendors and employees as they attempt to balance risk with profitability. Thus, there’s a continuous need for improved strategies to help businesses effectively manage Anti-Money Laundering (AML) and Know [Read More…]