Suppose you could know the level of risk you have before you make a loan offer to an individual. RiskIQTM offers a risk assessment score for your marketing campaigns that will give you that information.
RISK IS LINKED TO RESPONSE
Numerous financial studies show individuals who have impaired credit records are more likely to respond to loan offers. RiskIQTM allows you to take advantage of this fact. It uses credit data to predict the likely credit risk for individuals within a small geographic area—like the market around a branch office.
MULTIPLE SOURCES WORK BEST
WordCom’s proprietary RiskIQTM produces scored solutions based on data from over 100 quality sources. Data is updated quarterly and includes 1,500 proprietary, attitudinal, econometric, and summarized credit attributes.
By using wide assortments of credit data and data sources, the results are more accurate than using a small data pool which may have inaccuracies.
HOW YOU BENEFIT
WordCom creates a marketing campaign for your loan product that offers a low risk for your financial institution. You don’t make a firm credit offer—and you don’t need to. The program generates a generous response rate because of the risk assessment of the complied prospect list.
Additionally, the list can be customized for the specific underwriting requirements of your financial institution, as well as for the loan product your campaign promotes (equity, auto, etc.). The marketing criteria can apply to your customers as well as to prospects.
There are many more details you can discover about WordCom’s RiskIQTM, so contact us today. Add a boost to your loan marketing campaigns and expand your loan portfolio.