This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Equifax Launches True In-Market Propensity (TIP) Scores™ For Auto Lenders

Stocks in this article: EFX

ATLANTA, Oct. 16, 2012 /PRNewswire/ -- Automotive lenders can now receive unprecedented levels of marketing intelligence to more effectively prescreen and target prospective consumers for pre-approved offers with Equifax's  new automotive True In-Market Propensity (TIP) Scores™.

(Logo: http://photos.prnewswire.com/prnh/20060224/CLF037LOGO )

An industry-first tool that will accurately identify automotive borrowers, TIP Scores will significantly add value to an auto lender's portfolio by transforming the way auto lenders market to borrowers. Equifax's TIP Scores can help automotive finance companies, banks, credit unions and dealers successfully identify consumers in the market to purchase or lease and more effectively tailor their marketing campaigns with timely and effective offers to prospects.

Leveraging Equifax's wealth of credit file information, TIP Scores enables auto lenders to better market to consumers using pre-determined identifiers which measure borrowing propensity and delinquency likelihood at any given time. These markers assign consumers a digitized score, with a higher number indicating a borrower's increased likelihood to open a new loan and maintain timely payments in the future. Equifax's solution provides lenders a comprehensive view of borrowers and limits financial exposure to bad debt.

The auto industry is nearing a full recovery – Equifax's National Consumer Credit Trends Report indicates auto balances through September 2012 totaled $766 billion, an increase of more than $50 billion from same time a year ago. The most recent data also reported $243 billion in lending through July 2012, which reflects the highest amount in five years. With the influx of consumer activity, auto TIP Scores™ provides lenders an advantage in maximizing the return on their marketing and outreach.

"The auto lending market's performance has been the strongest lending improvement to date, and is evidence of an increasing consumer confidence within this specific industry," said Michael Koukounas, Equifax's Senior Vice President of Analytics, "This has created a necessity to provide lenders the most cost-effective way to accurately identify and then meet the demand of appropriate consumers to maintain this success."

About Equifax, Inc.

Equifax is a global leader in consumer and commercial information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs