Head of Partnerships Don Chapman discusses income solutionsPublished 12th Dec 2022
Understanding a borrower’s income with a high degree of certainty is critical regarding the borrower’s ability to repay, and both consumer and SMB Lenders rely on many third-party data sources to achieve this certainty. Today, income verification solutions are employed across various applications, whether leveraged within marketing efforts, in the form of targeted prescreen offers, or within customer management efforts, through targeted credit line increase offers.
↗️ The increase in reliance of income solutions by both banks and non-traditional lenders
🔎 3 critical items lenders look for in data providers
💳 The value of proactive credit line increases and navigating the CARD Act
🌆 Recent trends in the market, including which cities are best prepared to take on a recession
🏘️ How a nine-digit ZIP Code can accurately estimate a household’s income or a confidence score against the household’s stated income