Canadian Risk Scores

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Service - Canadian Risk Score

Business transpires every second around the globe and you need a reliable stream of accurate and secure information you can trust. Our credit risk reports, consumer risk predictors and other credit risk assessment tools ensure that you can manage credit risk accurately, promptly and consistently.

Our proprietary risk scores are built specifically to address unique characteristics of the Canadian market. These scores give you the intelligence needed to assess and manage the risks presented by consumers applying for your products or services. Each product or service you offer can attract a different profile of applicant, requiring a specific risk assessment evaluation.

Equifax Risk Score

Equifax newest statistical model that predicts the likelihood of a consumer’s 90+ day delinquency within the following 12 months. We designed the Equifax Risk Score was designed to better serve the credit lending community by addressing market problems and providing best in class service levels and support. This score addresses the current credit-scoring concerns of risk management professionals.

The power of the score lies in three main areas:

Increasing the Percentage of Consumers Scored
- Score More – Approve More: Improved Acquisition Efficiency. Equifax Risk Score has expanded criteria that qualify a consumer for scoring. Consumer credit files with less information can be scored with increased accuracy. Additionally, the Equifax Risk Score is able to adjudicate consumers whose credit history is shorter.

Increased Predictability
- Predict Delinquency with greater accuracy – up to 18.7% more
- Equifax Risk Score is designed using the latest regression techniques. Its improvement in predictability is verified through regression testing using real data to validate the enhanced results.

Increased Regional Actionability
- Canadian Regional Factors: Recognizing that consumers with the same score in different regions represent different risks. Regional factors are often ignored in calculating a risk score. Equifax has incorporated regional factors in our Equifax Risk Score. These factors add a further dimension to lending strategies and will help to “stretch” marketing budgets.
- Delinquencies vary by region. With Equifax Risk Score you are able to incorporate regional factors in your risk and marketing strategies whether ERS is used as a standalone input or in conjunction with internal models.
- If you operate in multiple locations you know that not all regions are the same – why should your risk score be?

Consumer Risk Predictor 3.0: Consumer Risk Predictor 3.0 (CRP) predicts the likelihood of an individual becoming seriously delinquent within the next 24 months. When you need to make decisions about issuing credit, CRP provides unprecedented ability to identify high risk individuals.

Bankruptcy Navigator Index: The Canadian Bankruptcy Navigator Index (BNI) is our analytical tool that identifies consumer bankruptcy risk at an early stage. BNI flags bankruptcies two to three times faster than generic risk scores and even captures “surprise” bankruptcies. With the ability to use this tool across the customer lifecycle, BNI can significantly reduce your potential for credit loss.; No Hit No Score (NHNS); 500,000 Canadians turn 18 each year — and new Canadians (immigrants) have an insufficient credit history for lenders and insurance issuers to make appropriate decisions based on traditional information. The majority of these applicants are creditworthy and could represent a significant increase in new customers for your company if information on these individuals was available.; Equifax offers a reliable score based on credit data for prospects with limited credit experiences. Developed and designed exclusively by Equifax, the No Hit No Score (NHNS) model offers a risk score statistically validated and derived for these consumers — generally those that are new to the credit market. In fact, the aged 18-25 market accounts for more than 40% (and the new immigrant market represents 22%) of unmatched or no score files. NHNS scores will allow you to mitigate your losses by identifying high-risk applicants confidently.

Why use Equifax

As the needs of our customers have evolved, so have we. Expanding on our role as the trusted steward of credit data, Equifax has grown into the leading provider of technology-and analytics-fueled information solutions.

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