News from the Wire

FactorTrust issues new quarterly underbanked index

Friday, April 26, 2013 — 14:56:55 (EDT)

Atlanta, April 24, 2013 -- FactorTrust, the leading provider of underbanked consumer data, analytics and risk scoring solutions on those underserved by traditional banking channels, today introduced the FactorTrust Underbanked Index. The Index, to be published quarterly, will highlight national data and trends based on expert analysis from FactorTrust’s database of millions of records related to underbanked consumers collected by the company each quarter.

Every three months, the Underbanked Index will provide a range of data points including demographic, loan behavior, seasonal effects and others, to help shed light on underbanked consumers. The Index will assist financial institutions, associations, analysts and media interested in tracking, benchmarking or understanding the needs of underbanked consumers.

Lenders are continually faced with the challenge of how to effectively and intelligently manage risk to lend to the underbanked. FactorTrust was formed to provide the most comprehensive data on this market in the industry through lending portfolios that report data daily, in real time. The analysis the company provides uses data not typically reported to the credit bureaus, and is invaluable in helping consumers have access to better borrowing options, while also providing a more accurate assessment of the consumer for lenders.

“For nearly ten years, FactorTrust has been monitoring data points of the financially underserved. From demographics to loan behaviors, we understand this subset of consumers better than anyone else on the marketplace,” according to Greg Rable, CEO of FactorTrust. “There are more than 51 million underbanked consumers in the U.S. alone. Launching the Underbanked Index quarterly report allows us to share our knowledgebase and expertise with the financial community and help educate them so they can better reach and serve these millions of consumers.”

The first Underbanked Index is scheduled to be released in May 2013 and will be available on FactorTrust’s website, www.FactorTrust.com . To receive the quarterly reports automatically via email, interested parties can sign up at ws.FactorTrust.com/UnderbankedIndex, or simply send an email to media@FactorTrust.com.

About FactorTrust

FactorTrust has compiled the most comprehensive data on the underbanked market in the industry through lending portfolios that report data daily, in real time. This daily loan performance data on millions of underbanked consumers is analyzed and combined with leading third-party data attributes in order to provide instant lending decisions using the company’s comprehensive scoring platform. Lenders are continually faced with the challenge of how to effectively and intelligently manage risk to capitalize on this segment. This analysis uses data not typically reported to the credit bureaus, and is invaluable in helping consumers have access to better borrowing options, while also providing a more accurate assessment of the consumer for lenders. For more information, please visit www.factortrust.com or contact FactorTrust at 1-866-910-8494.

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Source: Company press release.