As a way to mitigate risk, many communication service providers (CSPs) currently consult traditional consumer credit reports. However, adding trended credit data provides a better understanding of your customer base so you can make more confident data-based decisions — and say ‘yes’ to more applicants without impacting risk.
For example, in the telecommunications industry, enhanced credit data enables you to better evaluate which consumers should receive a prepaid contract or require an upfront deposit. A few examples of trended credit data:
- Up to 30 months of account history
- Account balances
- Payment patterns
- Past due accounts
- High credit usage
- Credit limits
Ultimately the goal is to say ‘yes’ to more customers without impacting risk. Explore how trended credit risk scores can help make smarter risk decisions around new customer onboarding.