FactorTrust provides alternative credit data, analytics and risk scoring information to help lenders make more informed decisions. Through proven analytics and a unique dataset, FactorTrust provides lenders opportunities to grow revenue and serve more consumers looking to build better lives.
Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.
Another data firm plans to seek regulatory certification as a credit bureau for payday lenders.
FactorTrust CEO tells PYMNTS that Big Data and alternative data can go beyond the traditional credit bureaus to determine a borrower's ability to repay.