Non-Prime Lending Strategies
By Michael Moore, Vice President, Senior Account Executive Sales
Competing Non-Prime lenders are all up against similar challenges today. The focus is generally on growth, managing loss, and being more efficient while addressing customer/dealer satisfaction. Growth is the most difficult and important focus. Lenders have additional challenges building a comprehensive risk model especially with the progression of indirect/digital customer acquisition strategies.
Lending Strategies for Non-Prime
Whether a lender is basing growth on expanding current customer relationships, different scoring strategies, or different Spectrums of credit, responsive and encompassing strategies backed by alternative credit data seems to be the key to success.