Equifax Unveils New Risk Score Aimed at Minimizing Bankruptcy Losses
Equifax has announced the launch of its fourth generation Bankruptcy Navigator Index (BNI) score, its most comprehensive and predictive bankruptcy risk score ever. With BNI 4.0, lenders can make more confident risk decisions through significantly enhanced insights and predictability into potential consumer bankruptcy. “This is our most effective consumer bankruptcy risk score yet, providing deeper and more predictive insights driven by wider data and more powerful analytics,” said John Cullerton, senior vice president of Product Innovation and Management with Equifax. “BNI 4.0 will give lenders the ability to predict and avoid potential consumer bankruptcies with improved performance and more consistent decisioning. The benefits of this new product translate to overall more confident risk decisions for Equifax customers.” By leveraging BNI 4.0 lenders and service providers can: ►Improve risk prediction by up to 10 percent; ►Make more consistent decisions with a robust score that leverages our most updated and comprehensive consumer credit attributes—our Advanced Decisioning Attributes; ►Boost score stability with random samples that were pulled from the Equifax credit database; ►Protect portfolios against present and future bankruptcy risk; ►Seamlessly integrate BNI 4.0 throughout the customer lifecycle and with other Equifax risk tools.