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Clarity Services, Inc. Gives Providers Better Visibility on Applicants for Free

Clarity's newest report is free to storefront small dollar credit providers.
    CLEARWATER, FL, May 06, 2013 /24-7PressRelease/ -- Clarity Services, Inc., the leading real-time credit bureau providing fraud detection and credit risk management solutions for Middle America consumers announces that its newest product, Clear Recent History, is being made available at no-charge for storefront providers who contribute loan data to Clarity.

Clear Recent History is a preventative underwriting tool that helps providers identify and better understand credit usage patterns of non-prime consumers.

"There are a small percentage of cases where consumers take out more loans than they can handle," said Tim Ranney, president of Clarity Services. "This tool helps small dollar credit providers identify consumers with challenging credit usage patterns, and helps providers determine when to make new loans or evaluate other ways to address consumer needs."

Providers have been working towards resolving consumer debt cycles and while this is a minor problem, it's manageable and Clear Recent History helps to address a solution.

As a trade line report designed for storefront small dollar credit providers, Clear Recent History provides key information such as consumer's loan activity over the past 90 days, loan inquiries, detailed trade line information for open and closed loans, past due amounts, and collections and charge off activity. It also indicates whether the consumer has applied for small dollar credit in the last month and year, and the number of days during the past month and year a consumer had one or more loans open.

"Clear Recent History will do for storefront small dollar credit providers what other Clarity products have been doing for the online lending space for years," said Lyndi Mulder, director of product management at Clarity Services. "It will give providers better visibility into applicant behavior to equip them with the predictive data they need to make optimal credit decisions."

In addition to detailed trade line information, Clear Recent History supplies providers with increased visibility into loan activity and performance, reduces the risk of lending to a consumer with outstanding loans, and helps rule out consumers that exceed state thresholds for the maximum number of open loans without incurring the fees associated with checking state databases.

Clear Recent History is available now. For more information, contact sales@clarityservices.com, or join a webinar at www.clarityservices.com/webinars.

With over 30 million unique consumer identities, Clarity Services is an industry leader in providing powerful reporting products on under banked, non-prime, thin file consumers with real-time consumer data to facilitate fraud detection, risk management, and more. For more information, visit www.clarityservices.com.


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Jessica Wyland
Clarity Services

Clearwater, FL
USA
Voice: 7274006754
E-Mail: Email Us Here
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