ADDISON, Texas--(BUSINESS WIRE)--Digital Matrix Systems, Inc. (DMS) today announced that it has formalized an agreement with Atlanta-based FactorTrust to provide DMS clients with access to FactorTrust’s alternative credit information and risk scores.
The strongest risk management strategies in use at leading financial services, auto finance, and insurance companies employ not only traditional credit data, but a balance of alternative data as well. FactorTrust, the alternative credit bureau, is the leading provider of non-prime consumer data, analytics and risk scoring solutions for those underserved by traditional banking channels. The company provides a unique and highly predictive source of alternative credit information that is unavailable from traditional credit reporting agencies.
Access to FactorTrust data will be available early in the third quarter of this year through Data Access Point™ by DMS, a cutting-edge connectivity hub that offers clients flexibility when using alternative data sources.
“Working with DMS enables FactorTrust to help more lenders better assess credit risk and a consumer’s ability to repay by streamlining access to real-time, trusted data on the underbanked that is not available anywhere else,” said Greg Rable, FactorTrust CEO.
“We are pleased to announce our strategic relationship with FactorTrust,” said David Graves, DMS executive vice president. “There is a growing need for quantifiable and actionable data on underbanked consumers. Our companies share a mutual interest in helping companies strengthen risk-based decisions, and DMS continually seeks out alternative data sources that will better support our clients.”
FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. Nearly 100 million U.S. adults have non-prime scores. Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. and the U.K. for nearly 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed business decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.