MALVERN, PA (March 04, 2013) – Akcelerant and Scorelogix are pleased to announce their collaboration with the introduction of Akcelerant Insight Scores (powered by Scorelogix). As a result of this partnership, financial institutions can select from three types of Insight Scores depending on their specific business needs. The ISS Prospect Score is best suited for segmenting and targeting desired prospects, the JSS Credit Score is used for approval decisioning, and the Debt Collectability Score is specifically designed to identify delinquent account holders who are likely to pay resulting in increased collections.
Jim Simon, president of Akcelerant Advisors stated, “These scores provide financial institutions with the ability to approve loan applications that they are presently declining. Moreover, the use of these scores can also dramatically improve response rates on an organization’s marketing initiatives.”
Akcelerant Insight Scores improve decisions because they are modeled differently and use better risk drivers compared to traditional credit scores. One of the biggest advantages of these scores is that they can score 100 percent of prospects, applicants and accounts including thin and no-hit files, unbanked and underbanked customers.
CEO of Scorelogix, Suresh Annappindi, adds, “Because these scores differ from traditional bureau scores, uniquely factoring things like an individual’s income level, stability of future income, and the impact of economy on one’s ability to pay, the use of these scores provide significant lift to both approval rates and an organization’s bottom line.”
About Akcelerant
Akcelerant, located in Malvern, Pennsylvania, is a leading provider of software and services to the financial industry through multiple product lines and relationships with best-of-breed service providers. Today, more than 500 financial institutions in North America are using Akcelerant technology. For more information about Akcelerant, visit www.akcelerant.com.
About Scorelogix
Founded in 2003, Scorelogix is the nation’s largest provider of proprietary decision scores that use income sufficiency, economic conditions, and income continuance risk as the core drivers of borrower’s ability to pay and creditworthiness. Scorelogix’s predictive solutions are better forward-looking indicators of consumer behavior and they help lenders enhance their risk models and improve their prospecting, lending and collections decisions by up to 600 percent. For more information about Scorelogix, visit www.scorelogix.com.