Teletrack offers scoring and decisioning capabilities to help you bring consistency, control and speed to your loan origination process. Teletrack brings consistency and speed to the loan origination process by helping you create a faster and more efficient underwriting process that leverages the strengths of Teletrack's data. For approved applicants, you can tailor the loan amount based on income, frequency of pay and credit score. In combination, these powerful tools provide the flexibility to structure your credit risk policies, moving you beyond just risk assessment to opportunity maximization.
Using our data resources and industry experience, Teletrack has developed two scores to meet the needs of non-prime lenders. Credit scoring helps lenders make more consistent and timely decisions about consumer credit worthiness while protecting the business from potential credit risk. Teletrack’s Best Practice Model provides guidance regarding how to quickly implement scoring or rules-based decisioning so that you can determine:
- Who will get credit
- How much credit should the applicant receive
- What pricing strategies or products to extend for enhanced profitability
In addition, our Best Practice Model can help you quickly adapt your decision processes to leverage these scores. This model addresses the needs of new entrants in the non-prime lending market and current lenders migrating from subjective decisioning to more objective decisioning.
This Best Practice Model is designed to assist with making risk assessment more predictable, cost effective and efficient, particularly in situations where a lender intends to increase the term or amount of a loan. Implementing scoring and decisioning can help you:
- Grow Sales
- Reduce Risk
- Increase Speed
- Improve Efficiency
- Increase Consistency
In addition, Teletrack offers access to traditional credit bureau data from ExperianSM, as well as LexisNexis® RiskView™ and bank account data from Fidelity National Information Services, Inc. These data repositories can be used as concurrent or follow-on transactions, which enables access to data on a conditional basis. This allows you to apply additional decisioning for each application before offering a loan amount or terms.
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