Special Report: Eighth Annual Underbanked Financial Services Forum

Lenders strive to bring underbanked consumers into financial mainstream.

June 10, 2013
/ PRINT / ShareShare / Text Size +

Better data

Using better data allows lenders to safely approve more underserved consumers with thin or no credit histories, says Paul DeSaulniers, director of VantageScore for Experian (at left).

He says using the right tools can help lenders approve 7% more auto loans that otherwise would be declined.

Mike Harris, managing partner with Core Innovation Capital (middle), says subprime auto loans for new cars in 2012 exceeded pre-recession totals.

Neo CEO Navin Bathija says his company helps thin-credit consumers secure auto loans at better rates by analyzing their online banking data. This presents an accurate reflection of their risk to the lender.

Neo bases credit decisions on consumers’ ability to make their loan payments, not on credit score.

Post a comment to this story

What's Popular

Popular Stories

Recent Discussion

Who Should Be the 2015 CU Hero of the Year?

View Results Poll Archive