Equifax develops analytics and prospecting package

True In-Market Propensity (TIP) Scores

Equifax is launching True In-Market Propensity (TIP) Scores, which will allow card issuers to identify prospective consumers with a higher propensity to borrow and repay (view press release). The solution is designed to provide card issuers with the facility to improve their marketing campaigns to target specific customers enabling them to grow account acquisition. 

Equifax claims its solution will provide card issuers with marketing intelligence to pre-screen consumers for pre-approved offers. The solution utilises the company’s credit file information, allowing lenders to improve marketing to consumers for pre-determined identifiers which measure borrowing propensity and delinquency likelihood at any given time. These markers give consumers a digitized score, with a higher number suggesting that a borrower is more likely to accept an offer and open and account.

As the economy continues to recover and U.S. consumers’ debt position improves, card issuers are now beginning to ramp up their direct marketing efforts,” said Scott Waid, Equifax’s Senior Vice President of Product Innovation & Management. “However, issuers are monitoring the return on investment of their marketing budgets much more closely than they had pre-recession. TIP Scores provide the most direct route to help card issuers achieve their marketing goals by more clearly identifying and targeting those select consumers with the highest true propensity to accept their offer.”

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