Character: The missing data
Traditional credit scores are based almost entirely on historical financial data. As a result, they overlook a key factor of creditworthiness: personal character.
Personal character is a critical factor for good borrowers’ behaviors, and can look beyond financial situations to better assess a borrowers’ ability and willingness to repay.
Because traditional credit scores rely on historical data, many millions of underbanked consumers are assumed to be high credit risks, and are either charged exorbitant rates or are denied credit altogether. But among them are lots of responsible, trustworthy, and potentially valuable customers who are being passed up.
We can do better. Good people should have access to affordable credit, and lenders should be able to identify good people.
Now they can. Introducing “Worthy Credit”.
Worthy Credit is a dynamic online questionnaire that is designed to predict loan defaults and payment delinquencies, above and beyond traditional models.
It uses patent pending technology and cutting-edge psychometrics to provide a new type of credit score that is based on a key set of personal attitudes and traits, related specifically to the “psychology of debt”.
Worthy Credit adds to a lenders current credit models, it does not replace them.
Administered to either new applicants or existing borrowers, Worthy Credit acts as an added layer of analytics that can help lenders:
Fast & Easy
Fair & Appropriate
We’ve seen excellent empirical results from Worthy Credit!
Proven in many culturally diverse samples around the world, Worthy Credit has consistently been found to be predictive of loan defaults and delinquencies, while providing incremental lift to traditional credit scores.
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