Credit underwriting

Better credit underwriting starts with Alloy

Standard consortium data is a given, but it is not enough. Alloy’s extensive ecosystem of over 200 data sources uses alternative underwriting data in tandem with traditional credit score information, so you can accept more applicants and continue to grow — while reducing risk to your business.

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A holistic approach to credit underwriting

Alloy allows you to manage all credit decisions end-to-end and automate credit checks, starting at origination and continuing throughout the customer lifecycle — all from a single platform. With Alloy, you can confidently manage your portfolio risk while uncovering new revenue opportunities.

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Streamline your onboarding and credit underwriting processes

With KYC/KYB, fraud, and credit application information in a singular dashboard, Alloy enables you to seamlessly manage your applicants from KYC checks and identity verification to credit evaluations all within a single system.

Learn more about the different types of credit risk.

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Transform complex credit policies

Get started with easy configurations that transform your credit policies into clean workflows — no coding required post-implementation. Build anything from basic workflows to complex matrix models directly in Alloy, or import your own custom models. Through Alloy Journeys, you can offload as much of your state management as you want to Alloy by linking multiple workflow and actions together within a single configuration to reduce customer friction.

Learn more about Journeys

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Integrate alternative data sources to increase lending opportunities

Alloy can help you safely verify and underwrite new customer segments. Our platform’s connection to multiple, alternative data sources — such as transactional bank data, cash flow data, online employment verification services, and utility payment history, amongst others — allows you to expand your funnel and convert more customers. This not only contributes to your growth, it makes financial services more accessible to the general population.

How leading banks and fintechs are verifying thin-file applicants

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Automate ongoing credit checks

By automating creditworthiness assessments and financial behavior on a continuous basis, you can:

  • Monitor customer behavior to better detect and reduce default risk, avoiding negative impacts to revenue

  • Identify existing customers who qualify for additional credit offers or new product opportunities

  • Improve operational efficiency and track the health of your portfolio at scale

  • Proactively offer credit opportunities without requiring a formal application process or incurring unnecessary risk

  • Personalize and tailor these pre-qualified offers to each customer's specific needs for a seamless and convenient experience

With Alloy, you have access to the most up-to-date data. Our automated, scheduled credit checks alert you to any changes in customer behavior, so you never miss a chance to reward loyal customers, re-engage dormant customers when the opportunity strikes, or catch default risk early.

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Test and iterate for optimal performance

Backtest and see the impact of workflow changes before they go live, A/B test different versions of your workflows to see which performs better, or shadow test a new policy in tandem with current policies. You will always be confident that any changes function as expected and deliver the results you want, so you can strike the right balance between risk prevention and customer experience — without unwelcome surprises.

View projected outcomes with Alloy’s Testing Suite

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What our customers are saying:

“We were so excited to find a credit underwriting solution that lets us proactively manage our credit risk and allows us to rely on automated decisioning, The configurable platform allows us to be nimble, and we can make critical underwriting changes quickly with the appropriate controls in place."

Bobby Parker, Head of Credit at PEX Card

How to build the ideal credit application

When you are standing up a credit product, you need to move quickly without sacrificing any steps in compliance risk management. Review some best practice recommendations, then learn how building the ideal tech stack can help alleviate customer friction behind the scenes.

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Earnest increases automated approval rate by 56% with Alloy

In partnership with Alloy, Earnest uses a data-driven approach to assess applicants' creditworthiness, taking into account factors such as education, employment, and financial history, in addition to traditional credit scores.

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“As a lending business, we’re very focused on conversions. Alloy connects us to more data sources, which helps us increase the speed at which we’re able to give applicants a decision.”

Jun Cho, Senior Product Manager at Earnest

Alloy uses data orchestration to help banks and fintechs make better identity risk decisions.

Jetty

Jetty increased their pre-approval rates by 35%

Jetty’s team needed an Identity Risk Solution that would help them simplify complex credit underwriting processes, confirm renters’ identities, and easily visualize their workflow from start to finish.

Once Jetty chose Alloy to enable it to review customer identity files and automate the document verification process for customer IDs, they increased their pre-approval rates by 35% and decreased their credit decisioning time to under 10 minutes.

Learn more

"Alloy makes it very easy to pull an applicant evaluation and understand why it was approved or declined."

Gal Katz, Senior Product Manager at Jetty

Get additional industry news and information from Alloy’s experts

5 min read 
How leading banks and fintechs are verifying thin-file applicants
Many members of the underbanked population have no or thin credit files — which, in a classic case of what comes first, the chicken or the egg — makes it even harder for them to acquire a credit card. But how can organizations safely verify and underwrite these populations? I asked experts from Alloy, Equifax, Nova Credit, Zest AI, and Ocrolus to find out.
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