Optimize Lending Decisions with Critical Insight
Typical credit reports are heavily focused on past payment history and provide a limited view of a consumer’s actual financial condition. The Envestnet® | Yodlee® Risk Insight Suite of reports is designed to supplement traditional credit reports by utilizing consumer permissioned aggregated data from over 15,000 sources, including banking, investment, loan, and credit card information.
Factoring in this data can produce a far more holistic, comprehensive, and verified view of a consumer’s financial picture than any other method available today. The results can change the outcome of lending decisions, especially for the 180 million consumers who are thin/no file, unscoreable, or subprime.
Support for Every Stage of the Lending Cycle
Risk Insight Suite reports are available at any time during the lifecycle of a lending relationship and can be used for pre-qualification of borrowers, loan decisioning, verifying application information, credit risk modeling, underwriting, account review, application streaming, and more.
- Real-time and comprehensive visibility into assets, income, non-credit payment patterns, and transactional detail
- Sophisticated data science and machine learning algorithms identify and classify transactions for deep understanding around income
- See full transaction level details for every credit and debit activity
- Unlike traditional credit reports updated every 30 days,
Envestnet | Yodlee data is up to date as of the moment it is pulled
- FCRA compliance framework ensures consumer rights and protects lenders
- Complete end-to end solution handles everything from ordering the report to delivery
- Streamlined asset verification process can reduce loan closing times
- As the leader in data aggregation, only Envestnet | Yodlee combines scale, stability, size, and security to safely aggregate data for credit use cases
Envestnet | Yodlee’s Risk Insight Suite helps lenders give consumers the experience they demand, with the risk information they need to make great decisions to close more loans. Risk Insight uses consumer permissioned data to provide real time insight into assets, income, investments, rent and utility payment history, cash flow, and more. With Risk Insight, consumers don’t need to gather bank statements, paystubs, or tax returns. All the consumer has to do is log in to their account. It’s simple and quick. And because Risk Insight is delivered within an FCRA framework, compliance obligations are clear.