Alternative Credit in a Whole New Light
At eCredable, we believe that Un/Under-Banked Consumers represent the largest untapped market opportunity for businesses today.
Historically, you may have avoided this consumer segment because you had no easy way to assess their credit risk. Why take on new customers if they’re just going to be unprofitable? With eCredable, you can safely extend credit to these consumers without taking on undue risk, and do so without straining valuable internal resources.
eCredable has created a unique process that completely engages the consumer to demonstrate their creditworthiness. Not only do we help you quantify risk just as you would with a traditional credit report and score, we also help you gain better insight into consumer behavior. Some would argue that behavior is just as important as evaluating someone’s credit history. Any consumer willing to pay to have their alternative payment history verified is demonstrating the kind of sound and responsible behavior you desire in any customer.
According to the CFPB, there are 45 million “Credit Invisibles” in the U.S. These are consumers who are not scoreable using a traditional credit scoring model. We believe our scoring model will identity that 30% of this population is indeed creditworthy, and someone you should consider as a customer. We also believe that our scoring model will shine a brighter light on the subprime and deep subprime consumer who has a poor score primarily due to a lack of tradelines in their credit file.