What is the value of using alternative data in the instant prescreen process?
Abstract: In this video, Tom Johnson discusses the value of using alternative data in the instant prescreen process. Tom is the Vice President of Products and Business Development at Zoot Enterprises.
Transcript: Today, a lot of new data is available to be used in instant prescreen. A lot of this data is less expensive than the traditional data that is used in prescreen and this data has different components in it and gives us insights that the older data didn’t. So we can do things like reach further down into a score band, find people that would be a good fit, likely to accept the offer, and don’t pose any more risk that we didn’t know about before. It also allows us to be able to do segmentation that we haven’t been able to do in the past that really lets us really tailor the offer and get a much higher acceptance rate than what we’ve had in the past.