Quod selected LexisNexis Risk Solutions for two primary reasons. LexisNexis Risk Solutions high-powered data processing platform, HPCC Systems and LexisNexis Risk Solutions analytic expertise that facilitates a deeper understanding of consumer behaviour. HPCC Systems is capable of processing and linking disparate information quickly. Predictive scores can be subsequently calculated in real-time, making credit granting seamless to the consumer and lowering the chance of potential loss to the financial institution.
LexisNexis Risk Solutions recently conducted a global study on economic inclusion and financial transparency. It found that half of the 300 financial services professionals surveyed admitted turning away 6% to 15% of potential customers due to their current KYC or credit risk management processes. Clearly, innovation is needed so that more people can gain access to credit provided by the financial services industry.
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