VantageScore® Launches Customized Insights into Newly Lendable Consumers for Lenders and Fintechs

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Apr 20, 2023, 08:00 ET

MarketGain Powered by VantageScore™ Quantifies the Benefits of Using VantageScore 4.0 to Drive Financial Inclusion

SAN FRANCISCO, April 20, 2023 /PRNewswire/ -- VantageScore released today MarketGain Powered by VantageScore™, a customized leading-edge analysis that provides lenders and fintechs with insights on how their specific addressable market could increase with the implementation of the VantageScore^® 4.0 credit scoring model, helping financial institutions to identify newly lendable consumers and to potentially open up greater financial opportunities for consumer access to credit.

MarketGain provides research and insights across product lines including revolving products (retail cards and bank cards), home equity products (HELOC and HELOAN), and non-real estate products (auto loans, auto leases and personal installment loans), defining the potential for loan portfolio growth within a lender's market or prospective expansion markets. MarketGain reports are tailored to the requesting institution's footprint and strategy.

By leveraging MarketGain insights, lenders and fintechs can easily demonstrate to stakeholders how using VantageScore 4.0 can increase financial inclusion and opportunities for portfolio growth.

MarketGain provides lenders and fintechs with data and analysis on:

NEWLY LENDABLE, CREDITWORTHY CONSUMERS: Overall totals of newly scoreable consumers segmented into credit score bands (600-700) that were previously "invisible" with conventional models
POTENTIAL LOAN GROWTH ESTIMATION: Aggregated total lendable dollar amounts
CUSTOMIZED, RELEVANT INSIGHTS: Product-specific opportunity breakdowns within an institution's footprint across counties and states
OPPORTUNITIES FOR ENABLING GREATER FINANCIAL INCLUSION: Ability to estimate how many newly scoreable consumers are minority borrowers based on U.S. Census data

MarketGain combines anonymized data from the three nationwide credit reporting agencies (Equifax, Experian & TransUnion), from VantageScore 4.0, and from branch location information from the Federal Deposit Insurance Corporation (FDIC) to create powerful insights into the potential increase in addressable market share with the implementation of VantageScore 4.0.

"MarketGain Reports provide data-driven insights to help lenders and fintechs make the case for VantageScore 4.0 adoption and expand their addressable market," said Silvio Tavares, President & CEO of VantageScore. "This is a critical step towards expanding financial inclusion and increasing the pool of creditworthy consumers."

Requesting a MarketGain Report is simple. To request a MarketGain Report, lenders and fintechs should contact their customer representative at one or more of the three credit reporting companies. For general inquiries regarding MarketGain, contact VantageScore at [email protected].

About VantageScore
VantageScore develops consumer credit scoring models that combine the need for both financial inclusivity and dependable predictiveness across all scoring ranges. Known as an industry thought leader, the company's most recent models score approximately 94 percent of all adults 18 and older – including 33 million more people than conventional models – without sacrificing safety and soundness. As a result, lenders using VantageScore can extend credit to those who have been historically marginalized, including minority and lower-to-middle income Americans. VantageScore credit scores are used by thousands of lenders, landlords, utility companies, telecom companies, and many others to determine creditworthiness. Additionally, tens of millions of consumers rely on free access to their VantageScore credit scores to monitor their own creditworthiness.

VantageScore was launched in 2006 and is owned by America's three NCRAs – Equifax, Experian, and TransUnion. Using a patent-protected tri-bureau methodology, VantageScore delivers time-tested, innovative, and more consistent credit scoring models across all three NCRAs.

SOURCE VantageScore