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Creative Business Decisions Partners with LAUNCHER.SOLUTIONS to Provide Scorecards and Credit Risk Management Solutions to Lenders

LAUNCHER.SOLUTIONS and Creative Business Decisions (CBD) have announced their full integration to help mutual lending clients make better lending decisions by incorporating generic or custom-developed scorecards created by CBD within Launcher’s appTRAKER Loan Origination System (LOS).

appTRAKER LOS was designed for lenders needing a more efficient way to consume data while originating loans to build a stronger portfolio. CBD was Launcher’s choice for a scorecard partner because of their reputation and achievements in the credit risk management business. Having developed over 400 products and serviced over 100 clients over the past 30+ years, CBD is the first choice for sub-prime and prime lenders in many verticals including auto lending, retail, consumer lending, and telecommunications.

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Lenders using appTRAKER LOS will be able to obtain a credit score on their applicants, based on data from both the bureau report and application (demographic) data. Lenders will be provided with the probability of default for the CBD score obtained for the applicant, which can be used to set risk tiers, loan programs, and pricing. Over 500 bureau attributes can be selected and used to make appropriate lending decisions. These scorecards integrate seamlessly within appTRAKER’s processes and workflows to provide lenders with multiple ways to automate the entire lending process as much or as little as they want. The scorecards are ready to deploy so lenders can quickly leverage CBD’s risk management expertise.

To quote Pat Nanda, CEO of CBD, “CBD has been able to address issues pertaining to ‘insignificant’ bureau data and create models, screens and rules that have helped clients gain confidence in their venture of targeting applicants with ‘marginal’ credit. CBD’s products have provided not only the computed score, but also generated automatic decline and review rules, price of the deal, decline reason codes, and parameters within which alternative deal structures could be offered”.

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The CBD score has many advantages from increasing acceptance rates to providing more informed, consistent, and balanced decisions. These scores help lenders to reduce charge-offs, improve receivables, and effectively market to good customers. Moreover, these scores are superior to FICO as they utilize variables from both the credit application and the credit bureau, and are optimized for the lender’s portfolio, location, and type of lending. CBD has now started including Artificial Intelligence (AI) tools as well as alternative data in their development methodology to enhance their products.

“CBD will give lenders using appTRAKER LOS the ability to evaluate hundreds of data points, assessing risk in a more thorough manner than by a credit report alone,” said Nikh Nath, President of LAUNCHER.SOLUTIONS. “Our integrations with third party data providers are invaluable to our lenders. The applicant score provided by CBD can be run automatically or manually, during the underwriting phase or the verification phase. The enhanced partnership provides the quality data that lenders need, to build stronger portfolios.”

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