Cross View SM Make more accurate credit decisions by analyzing both debit and credit information. Until now, it has been a challenge to make good, solid credit decisions on consumers who have limited or no credit information. Yet many of these individuals could prove to be valuable, reliable customers. Now Cross View, Experian and eFundsâ?? exclusive offering, provides an additional, highly predictive risk tool to help you determine credit worthiness â?? debit information. Debit data â?? an excellent indicator of credit behavior. As a principle, creditworthy individuals are typically also responsible with their checking accounts. This correlation between debit history and overall credit behavior is evident in Experianâ??s extensive debit data analysis. Until now, consumer debit information had been overlooked as a potential risk assessment tool. In the absence of credit information, Cross View affords credit grantors with the gratifying ability to evaluate consumers based on their responsible financial habits without sacrificing efforts to minimize risk. The team: Experian and DebitBureau® from eFunds Cross View provides comprehensive debit information from eFundsâ?? DebitBureau to supplement credit data for risk assessment purposes. eFunds has the most extensive single source of debit data availableâ??and Experian is the first to offer access via Cross View. The DebitBureau database contains more than 2.7 billion records related to account opening inquiries, accounts closed for cause and returned check information (NSF). Whatâ??s more, DebitBureau is growing by about 1.7 million records a day. In addition to debit data, Experian also developed a debit-based score incorporating check order history. Identify creditworthy emerging consumers with Cross View In the past, credit grantors had minimal information to help them determine the creditworthiness of a growing population of consumers. Cross View from Experian addresses the need for consumer information where there is limited or no credit data available. This enhanced view of a consumerâ??s creditworthiness provides an insightful, informed picture of new prospects, including emerging consumers like students, immigrants and recently-divorced individuals. Cross View is a powerful tool enabling you to reach these prospects first and establish an early, solid relationship. Targeted offers, improved responses Cross View allows you to expand your target market with confidence. By qualifying previous unknowns, Cross View helps you match the best prospects with the most appropriate offers, potentially increasing your response rate. A suite of solutions: Prescreen suppression Use debit data to supplement your prescreen program for credit or insurance offers. Prescreen segmentation Prior to rejecting an unscorable population for credit or insurance offers, use Cross View to supplement credit data. This information allows you to evaluate more prospects and to better serve potentially creditworthy consumers. Cross View Report (Debit Report)/Emerging Consumer This product assists you with processing applications for consumers who have yet to establish credit history. In a matter of seconds, Experian can return a summary of debit data that also displays the Cross View Score. Similar to credit-based models, this Experian developed score predicts the likelihood of credit delinquency based solely on debit data. The benefit being the expansion of your target market to include consumers who were most likely rejected in the past due to a â??no-hitâ? or â??no record found.â? Account review overlays Cross View helps manage risk and identify cross-sell opportunities within existing portfolios. Fair Credit Reporting Act compliant Experian has a deep commitment to the highest standard of information practices. The alliance with eFunds DebitBureau was strategic in that they are also a Credit Reporting Agency and regulated under the Fair Credit Reporting Act. Respect for consumer privacy and trust is inherent with Cross View as a result. Permissible purpose is also required to use debit data for credit granting purposes and should be disclosed to consumers accordingly. Peace of mind Cross View offers more than the ability to identify and reach new and emerging consumers. This suite of solutions from Experian can be utilized with confidence to minimize risk while expanding your universe to include new prospects - creating opportunities for both credit grantor and consumer. To find out more about Cross View, contact your local Experian sales representative or call 800 333 4930 (option #2). DebitBureau is a registered trademark of eFunds Corporation. Top of page | Contact us | experian.com | Privacy © Experian 2001. All rights reserved. Experian and the Experian marks herein are service marks or registered trademarks of Experian.
Big brother is getting bigger. Ironically, we just visited Portabello Rd just outside London in the Notting Hill area and came across the house where George Orwell had lived! What protections will the consumer have against this sort of credit/debit/NSF checking, etc????? I don't think the FCRA has in place protections for the scope of this. Comments?
