CoreLogic® Teletrack™ integrates and manages data from an extensive network of risk management solution providers, including TransUnion®. Accessing TransUnion data and scores through CoreLogic Teletrack allows you to offer services to consumers based on their own prior credit performance at businesses similar to yours, as well as within the broader credit market. TransUnion data can enhance credit screening when there is little or no record of the applicant in the Teletrack database and provide incremental segmentation of applications with a detailed history in the Teletrack database.
Having access to traditional credit data and scores from TransUnion through a single-source platform dramatically shortens the time and expense required for non-traditional lenders to achieve a competitive advantage in today’s dynamic consumer finance market. Using TransUnion data in combination with credit performance information from CoreLogic Teletrack in a concurrent or follow-on transaction can help maximize profitability by providing four critical benefits:
- Improve speed and efficiency by using less data for better decisions
- Increase consistency across the organization and reduce exposure to high risk accounts by leveraging traditional and non-traditional scores
- Increase approval rates by having a more detailed understanding of each applicant
In addition to a credit report from TransUnion, you also have the ability to access a number of credit scores including:
- VantageScore® Risk Model
- FICO Risk Score NextGen 3
- TransUnion New Account TransRisk 3.0
These scores allow you to make quick, uniform decisions; perform unbiased applicant review, and develop more sophisticated lending strategies.
The TransUnion database contains more than 200 million files, which profile nearly every credit-active consumer in the United States. This database contains information provided by more than 85,000 credit-granting institutions and is updated, audited and monitored on a regular basis. CoreLogic Teletrack customers serve the approximately 100 million U.S. consumers lacking a detailed traditional credit history.
