LendProtect Account Management Triggers Alerts Lenders to Risk Threshold Activity

FactorTrust, The Alternative Credit Bureau, announces the launch of its LendProtect Account Management Triggers solution, designed to offer lenders a proactive approach to portfolio management, especially regarding accounts with the highest risk.

LendProtect Account Management Triggers are set up by lenders to automatically monitor for changes or events that occur on a consumer’s credit profile that would indicate they are in the market for a certain product, have become eligible for a product or have passed a certain risk/compliance threshold that would require the lender to take action. 

“Lenders have trusted FactorTrust’s robust data and analytics capabilities to assess consumers’ creditworthiness for more than a decade. LendProtect Account Management Triggers, our latest offering, is designed to efficiently monitor consumer accounts and quickly respond with offers or actions that enable growth or reduction in potential loss,” states Greg Rable, FactorTrust CEO.

Lenders can customize their specific risk thresholds to receive a unique look into their portfolio, gaging both performance and potential. LendProtect Account Management Triggers alerts lenders where and when to take action with insight provided by event-based indicators.

“It is critical in today’s market that lenders have every possible piece of information at their disposal before making decisions that affect their business. We created this solution with the sole purpose of helping lenders improve portfolio performance by monitoring credit and pinpointing opportunities as well as trouble spots,” says Rable.

For guidance on how to leverage this solution, lenders should contact FactorTrust at 1-844-205-4111 or sales@factortrust.com or visit www.FactorTrust.com.

About FactorTrust

FactorTrust, The Alternative Credit Bureau, helps lenders manage the credit lifecycle of underbanked consumers using unique alternative credit information not available from the Big Three bureaus, enabling them to offer non-prime consumers the credit they deserve. 113 million U.S. adults have credit scores below 700.  Leveraging the company’s credit information, lenders can more accurately predict future borrowing behavior, credit performance and risk scoring for this growing segment. Headquartered in Atlanta, the experienced FactorTrust team of predictive analytics specialists, statisticians and financial industry experts has delivered unique data and valuable insight to lenders throughout the U.S. for 10 years. For more information on the quarterly FactorTrust Underbanked Index or the company itself, visit www.FactorTrust.com.