DemystData: Consumer Hardship

Avoid losses by proactively identifying customer risk changes with enough time to act


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.

About the Provider:

For the right business problems, Demyst’s External Data as a Service delivers impactful, curated, maintained, private shared multi source data under a single license. We navigate the complexities of ongoing automated discovery, compliance and diligence reviews and ongoing streaming infrastructure through the Snowflake platform so you don’t have to. Our clients are leading tier 1 players who safely consume 10x more data because of our service.

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