Consumer Hardship

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Data Share Description:

Consumer Hardship

Data Share Frequency: Daily
Data Share Category: Financial
Data Share Type: Personalized
Data Share Date Added: February 1, 2021
Data Share Status: ACTIVE
Data Share Usage Example Q1: Consumer | Credit | Lending | Risk select first_name, last_name, business_category, employment_indicator, indicator_mortgage from demyst_customer_hardship where hardship_score > 0.8
Data Share Usage Example SQL1 Last Tested: January 1, 1970
Related Company: DemystData

Data Share Overview:

As unemployment soars, lenders are seeking ways to proactively manage their customers experiencing financial hardship to ensure they receive payment and establish controls for new applications. However, internal data and traditional bureau signals no longer identify hardship prior to default. Signals such as a person being un or underemployed, or deferring mortgage payments can indicate financial hardship before their credit score changes Demyst has a proven solution for assessing the financial health of your customers and prospects using the most predictive, compliant and cost-effective external data signals available. We recently partnered with a major lender who was suffering from increasing defaults, that their existing models built on internal data and bureau signals were not predicting. A rapid diagnosis of their portfolio found 5% more customer’s in their portfolio who represented a financial risk. The client was able to proactively engage these clients to avoid an estimated $25M in losses and establish automatically updating health checks on their portfolio. Consumer Hardship can help you: 1) Find and manage your at-risk customers sooner 2) Improve decisions, by flagging distressed customers whose credit hasn’t yet changed 3) Tailor marketing by understanding which customers and prospects are experiencing hardship Reach out to Demyst directly to diagnose your portfolio today. Demyst as a platform strictly adheres to all data privacy laws and regulations regarding data handling and management such as CCPA and GDPR.

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