FactorTrust Launches Global Partner Program

ATLANTA, Nov. 19, 2013 /PRNewswire/ -- FactorTrust, the leading provider of underbanked consumer data, analytics and risk scoring solutions on those underserved by traditional banking channels, has launched a global partner program to expand consumer credit options while maximizing the value of their growing proprietary database and scoring solutions.  Led by Grant Brown, Director of Strategic Alliances, the program is designed to attract resellers and providers committed to consumer service and providing the underbanked better products.

The underbanked consumer financial services market is estimated at 78 billion¹ in revenue and growing. FactorTrust's proprietary database, which contains more than 130 million distinct transaction records covering all phases of the consumer credit life cycle, has increased more than 30% since 2012 and is reflective of this overall market growth. Data is updated in real-time by lenders in the U.S., U.K. and Canada, and is not available from the traditional credit bureaus. 

As this demographic grows, there is increasing urgency from lenders for accurate data and solutions to successfully rate risk and improve lending options for these consumers. FactorTrust aims to solve the problem by reselling and partnering with those businesses that provide services and products to this market.

"The underbanked demographic has become one of the fastest growing markets and our company's growth is reflective of this," said Greg Rable, founder and CEO of FactorTrust. "FactorTrust is committed to building relationships with partners creating lending solutions -- specifically those that will provide underbanked consumers better access to more products." 

High growth markets in need of this data include: alternative lending, auto finance, banks and credit unions, consumer finance, credit cards and insurance. The program is available to data resellers, software integration providers, risk management or technology consultants as well as those businesses interested in joint marketing or sharing their relevant data to better serve this segment.

"At FactorTrust, we believe that strong partners will unlock the potential of our data and find more innovative ways to create value for our customers," said Grant Brown, Director of Strategic Alliances. "FactorTrust has been focused on compiling quality data, and our objectives with this program are to ensure consumer satisfaction and to enable profitable growth for our partners."

Learn more at http://ws.factortrust.com/partners.

About FactorTrust
FactorTrust has compiled the most comprehensive data on the underbanked market in the industry through lending portfolios that report data daily, in real time. This daily loan performance data on millions of underbanked consumers is analyzed and combined with leading third-party data attributes in order to provide instant lending decisions using the company's comprehensive scoring platform. FactorTrust data is not typically reported to the credit bureaus, and is invaluable in helping consumers have access to better borrowing options, while also providing a more accurate assessment of the consumer for lenders. For more information, please visit www.factortrust.com or contact FactorTrust at 1-866-910-8494.

¹ www.cfsinnovation.com/content/2011-underbanked-market-sizing-study

Media Contact: Jane Rafeedie, 678-381-0702

SOURCE FactorTrust, Inc.