Where we’ve ended up is as opposed to kind of a monolithic way of underwriting as you do with FICO rating in several of this prime loan providers, we’ve created what we call “customer archetypes,” and thus once you look at the several types of users, we provide a credit invisible who is perhaps a millennial, has never utilized credit before or not a lot of credit rating.

That they each need different types of data as you think about each of these, it’s no surprise

Or, we simply have actually these payday express Midlothian kinds of over stretched customers that are prime-ish somebody that has never ever utilized alternate types of credit, but need actually utilized all of their old-fashioned types of credit now is forced to see elsewhere. A millennial isn’t going to need substantial credit bureau ideas so we can try and get a sense of how that person is using their money, the cash flows of the customer as opposed to maybe a credit challenged customer where some of the sub-prime credit bureaus can be really predictive and then, of course, with prime customers there’s a lot of good credit facts so it’s really important to check out issues around stability of that consumer, have bank-account suggestions.

Therefore we put all of that together…in the past, we stated 10,000 items of information and I also is corrected by our mind of information technology whom stated, you realize, it’s much more 10,000 items of information starting our ratings therefore we create them extremely individually with one of these customer that is unique at heart. Read more