COSTA MESA, Calif., Nov. 14, 2016 /PRNewswire/ -- How much data exists when you combine consumer credit data on 220 million consumers and 4 billion tradelines with 24 months of history? An overwhelming amount, which can be leveraged to help lenders make complex decisions and connect consumers with financial products that will benefit them. Today Experian ® launched Extended Trade, one of the most advanced products within Credit3DTM, a suite of credit risk-management tools to help lenders translate enormous quantities of trended data into valuable insights. Extended Trade features 18 new trade-level fields that provide trended insights for more precise targeting.
"The most vital resource in the modern economy is data, and one of the challenges facing businesses today is combing through massive amounts of it to find actionable insights. It can feel like you are searching for a needle in a haystack," said Paul DeSaulniers, Experian's senior director for risk scoring and trended data solutions. "Credit3D breaks down barriers, allowing businesses of all sizes to pinpoint the 'needle' quickly and deploy a powerful stream of insight to grow their business profitably." The value in trended data is a combination of the right type of data sources and solutions which interpret what the data reveals. Extended Trade's unique capability is to uncover granular data and provide strategic actions for lenders on how and what to market to consumers. Understand how a consumer spends, their current estimated interest rates, potential profitability and the number of months remaining on their loan term for each trade. This unique data and technology allow lenders to offer consumers the right financial products based on their needs and behaviors.