Zoot Enters Alliance with LexisNexis to Enhance Prescreen Capabilities

New data source promotes more accurate, predictive, cost effective credit decisions

March 23, 2011

Zoot has entered into an agreement with LexisNexis to enable its FCRA-governed data to be integrated into Zoot’s multi-bureau prescreen-of-one solution. LexisNexis data can dramatically enhance the effectiveness and customer experience of the traditional prescreen process.

“We are pleased to have Zoot as an agent to use our FCRA-governed data for prescreen-of-one processing,” said Mike Woodberry, LexisNexis director of product management. “LexisNexis data supplements credit bureau data to give lenders a more complete view of the full file consumer and enables sound decisions for thin and no file consumers,” said Woodberry. 

Additional data, when employed in an instant prescreen environment, allows lenders to grant credit to a greater number of consumers without changing their risk tolerance and gain insight regarding the most appropriate credit product to offer. Supplementing traditional credit bureau data with more complete consumer information helps lenders lower their screening costs by ruling out certain credit prospects sooner in the process.

“The alliance between LexisNexis and Zoot is a critical step in the next evolution of instant prescreen. The addition of the data from LexisNexis provides the flexibility and power to make more informed decisions and improve the effectiveness of the entire process,” said Tom Johnson, vice president of product development for Zoot Enterprises. “This alliance demonstrates Zoot’s leadership in instant prescreen and continues to differentiate our company from the other providers of prescreen services in the industry.”

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About Zoot

Bozeman, Mont.-based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. banks. Zoot’s rapid, high-volume processing environment has the capacity to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information. Zoot thought leaders are now featured on http://www.zootweb.com/blog.