Alternative credit pioneer lauds industry while releasing the next innovation

KENNESAW, Ga., Aug. 6, 2019 /PRNewswire/ -- PRBC, an early pioneer in the now rapidly growing alternative credit market, expressed excitement that large companies were finally acknowledging the importance of alternative credit data as a means to promote financial inclusion among all consumers.

"Early on, even before the Great Recession, we saw that many otherwise credit-worthy consumers were being shut out of the credit market," said Sean Albert, SVP/CMO at Microbilt, the owner of PRBC. "From the start, we've believed that with the right tools, lenders could make better decisions and consumers could get the credit they deserved."

Founded in 2005 Payment Reporting Builds Credit ("PRBC"), the company's first product set the standard for the brand new alternative lending credit market. For the first time, consumers could add verifiable payment information for bills like utilities, mobile phones, rent and subscriptions. Lenders could then include this information in their credit decisioning, giving them a more complete picture of a customer.

Since then, PRBC has been building a comprehensive lending platform that includes both consumers and lenders in a dynamic exchange of data. A recently upgraded platform was just released to the public.

"We've had the luxury of being able to watch the market and customers evolve over the last thirteen years. All of that learning – and volumes of data - is now being fed into the newly-released next iteration of PRBC. This is a significantly expanded platform that promises to be even easier for customers to use, and with greater predictive insight for lenders," said Keith Goodnight, SVP/Product Development & Management.                             

It is estimated that 70 Million consumers in the United States are impacted due to a lack of conventional credit data. This group represents $1 Billion dollars in potential purchasing power. According to Sean Albert "By giving lenders the ability to score these consumers, we've created a win, win, win situation. Consumers benefit, businesses benefit and the economy benefits. That feels good."

About PRBC
PRBC was founded in 2005 as the pioneer in alternative credit data and is the first consumer reporting agency to include non traditional credit data such as utility, rent and cell phone payments. A number of companies have recently gotten into the alternative credit space, but none have the deep history, extensive experience or wealth of data as PRBC.

SOURCE PRBC

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