Credit Reporting Agency (CRA)
Know Who You’re Lending To
Do you know who you’re lending to? Informed lending decisions require predictive data that accurately reflects the risk associated with a potential subprime borrower. Unlike traditional credit bureaus that provide a one dimensional view of a consumer, the DataX CRA provides the intelligence necessary to complete the credit picture. DataX’s CRA lets you access the industry’s most comprehensive repository on subprime borrowers. Daily, we process more subprime lending transactions than any single provider of services to the business and financial services sector giving us a distinct advantage in the market. Leveraging data from payday loans, installment loans, subprime credit cards and other sources of non-traditional credit information allows our customers to mitigate the risk inherent in subprime lending.
Predictive Data Means More Profits
Identify Your Riskiest Customers
Our data exceeds traditional reporting standards to provide unparalleled transaction detail. Unlike traditional reporting agencies that report only loans funded and ultimate loan status, DataX provides detailed payment history, including Automated Clearing House (ACH) return data. This provides potential lenders with advance warning of NSF activity resulting in a reduction of loans funded to consumers exhibiting poor payment performance or those engaged in fraudulent activities.
DataX’s CRA payment detail section has the ability to alert potential lenders of an underperforming consumer prior to the resulting charge-off status. This translates into early intelligence used for funding decisions. Real-time transaction detail results in reduced lag time in reporting so our customers always have the most accurate information available.
The DataX Difference
DataX is an FCRA compliant credit reporting agency that supports fair lending practices and is committed to delivering the most accurate, timely information available. To ensure detailed accuracy, DataX maintains strict quality assurance procedures to protect both the integrity of its CRA and FCRA compliance.
As a true cooperative reporting agency, CRA member relationships with DataX extend beyond the initial credit check. DataX distinguishes itself from competitors by providing real-time transaction based reporting unavailable through any other bureau. This level of detail is accomplished through the continuous exchange of data that continues throughout the life of the loan. Two-way report certification strengthens the accuracy and precision of the data, mitigates future risk and optimizes subsequent decisioning.
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