The launch of VantageScore 4plus has been covered broadly in the financial services media recently. Read what several prestigious publications have to say about VantageScore’s latest credit-scoring model, below.
American Banker: “VantageScore is launching a new credit scoring model that combines traditional credit data with bank account information to help thin-file consumers gain access to financial products and services. Consumers opt to add the bank account data to get a second chance at qualifying for credit.
Announced Wednesday, VantageScore 4plus pulls in standard credit file information such as payment history and outstanding debt. If the consumer opts in, the model analyzes bank account data to create an adjusted score. This new iteration retains the scoring scale of the firm’s previous model of VantageScore 4.0.”
Read American Banker’s coverage of VantageScore 4plus here: American Banker
HousingWire: “VantageScore 4plus combines alternative open banking data with traditional credit data, which gives lenders a substantial predictive lift of up to 10% compared to the industry-leading VantageScore 4.0 credit score, which itself has up to an 8% lift over conventional scoring models.”
Read HousingWire’s review of VantageScore 4plus here: HousingWire
PYMNTS: “By harnessing the power of alternative open banking data, VantageScore 4plus is ushering in a new era of consumer credit scoring that is transformational for lenders,” said VantageScore President and CEO Silvio Tavares.
With the increased predictive power of VantageScore 4plus, lenders can reduce the risk of opening new lines of credit with customers who would not have been approved for credit previously, such as those who are not current account holders, are recent immigrants, or have not used credit products but have demonstrated positive cash management behaviors, according to the release.
Read PYMNTS’ coverage of the launch of VantageScore 4plus here: PYMNTS
VantageScore® has now launched its VantageScore 4_plus_ pilot program for banks, fintechs and government lenders. Sign up today! https://vs4plus.vantagescore.com
