All Press Releases for May 01, 2015
FICO Announces New Credit Score Now Available Based on Alternative Data
Since 2008 Clarity Services, Inc. has saved lenders millions of dollars with products like Clear Fraud
CLEARWATER, FL, May 01, 2015 /24-7PressRelease/ -- Clarity Services, Inc., the leading real-time subprime credit bureau providing fraud detection and credit risk management solutions for Middle America offers its congratulations to the new FICO credit score, announced Thursday, April 2, 2015, which aims to make millions of people creditworthy.
While FICO is in the preliminary stages of creating a new credit score, Clarity Services, Inc. has had visibility into non-prime data since 2008. Using a unique data source derived from a variety of financial service providers, including auto financers, check cashers, prepaid card issuers, short-term installment lenders, peer-to-peer micro lenders, small dollar credit lenders, online small dollar credit lenders, telecommunications and more, Clarity has broad visibility into the subprime consumer.
"Clear Fraud is Clarity's third generation fraud product and performs incredibly well in many industry segments. It uses consumer intent to not pay as the scores target outcome, which is a major challenge in non-prime credit applications," said Tim Ranney, president and CEO of Clarity Services, Inc.
Clarity offers a complete portfolio of underwriting and risk management products including Clear Fraud , a real-time reporting tool which combines powerful information across two credit bureaus to help lenders identify applicants that are unlikely to pay due to fraudulent intentions. Clear Fraud substantially out-performs all other identity verification and fraud tools used throughout the industry.
About Clarity Services, Inc.
Clarity Services, Inc. provides powerful real-time fraud detection and credit risk management solutions for the non-prime and thin/no file consumer segment. By leveraging unique data assets and scores, Clarity Services' suite of FCRA regulated reports and scores empower providers with visibility into critical consumer information not available on traditional bureau reports. For more information about Clarity Services, visit clarityservices.com.
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