confident that your risk decisioning is both accurate and based on real-time information. Basic, soft pull credit checks, which often don’t report the most recent activity, can make your decisions riskier and less accurate. To make risk decisions you can be confident in and that drive financial inclusion, you need to look to data outside of the traditional credit score. And instead, turn to alternative data such as behavioral scores, telco information, transactional data and open banking to give real-time insights into affordability and risk. To support decisioning outside of the traditional credit score, you need to be able to leverage data from a wide variety of sources and also have the ability to quickly integrate and test new data to improve decisioning accuracy. This means you need technology that empowers your team to create new integrations with zero hard-coding. It means having technology that has prebuilt connections to data vendor APIs that reduce integration times to minutes instead of months. And, if you want real flexibility, it means having technology that makes it easy for your team to access and use data exactly where and when they need it, whether that’s in decisioning processes, onboarding processes, or performance analysis.
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