ATLANTA--(BUSINESS WIRE)--Today FactorTrust released its enhanced Triggers solution, which provides tools to notify lenders of specific consumer behaviors on an ongoing basis and identifies the right-party contact information for collection and recovery efforts.
Triggers are alerts for pre-specified consumer events or changes reflected on FactorTrust’s credit database that indicates a consumer is in the market for a certain product, is recently eligible for a product, or passed a certain risk threshold, prompting the lender to take action.
The next generation of Triggers enhances the lender’s ability to monitor consumer files and quickly respond with offers or actions to enable growth, reduce potential loss and streamline collections efforts. The new version’s enhanced features for account management and collections include:
- New customer file management functionality with an ability to download lists of all consumers being monitored
- Five new event triggers
- Additional output fields for payment type and frequency, and bank account numbers
- Weekly summary emails to customers
“Our experienced team of data and analytics experts are continuously increasing ease and usefulness of our products and offerings, with our customers in mind,” said FactorTrust CEO Greg Rable. “The upgraded features of Triggers enable lenders interested in monitoring customer accounts to not only help to reduce losses, but also grow their portfolios more efficiently.”
For more information on FactorTrust, visit www.FactorTrust.com or contact 866.910.8497.
FactorTrust, the alternative credit bureau, is relentlessly dedicated to proven analytics and clean credit information that provide lenders & financial service providers opportunities to grow more revenue, meet compliance regulations and serve more consumers with more credit options. At the core of FactorTrust is alternative credit data analytics and risk scoring solutions not available from the Big 3 bureaus. FactorTrust Alternative Credit Data and Analytics accurately predicts risk and the ability to repay near and non-prime consumer loans in real-time. The company’s solutions enable financial service companies an opportunity to uncover creditworthy prospects that are not surfacing via traditional credit sources. Headquartered in Atlanta, the experienced FactorTrust team has delivered unique data and valuable insight to U.S. lenders for more than 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.factortrust.com.