The 3 hidden powers of unregulated identity data
The following is a guest post from Tom Donlea, the vice president of marketing for Whitepages Pro, an international identity company.
The growing number of customers preferring to go all-digital with their loan applications has created fierce competition among online lenders. With borrowers favoring speed of approval, originators have learned that fast, effective identity data verification is key to helping them approve new customers quickly without compromising their fraud and default thresholds. Personally identifiable information (PII) data is and always will be a chief factor for customer acquisition in this space. But it’s non-sensitive-PII data (a.k.a. unregulated identity data) that’s allowing lenders to compete and thrive.