FAQs
Are L2C solutions only for the Thin-file, No-file, Underbanked or Unbanked populations?
Absolutely not.
Our solutions can be used across all segments of the credit population to gain a much deeper understanding of a customer’s credit history and behavior. Our leading indicator data can provide early warnings of potential issues 6-12 months before it affects a traditional credit score.
What is an L2C Score?
An L2C Score in the simplest terms is a numerical ranking very much like a traditional credit bureau score that represents a credit risk profile. However, it is much more than just that. It is tool that when used correctly can provide high value and competitive edge for an organization. It is the unique output of one of many highly refined L2C scoring models available that use alternative, leading indicator data as inputs to evaluate, clearly identify and rank order consumer credit risk. L2C has created multiple models to solve a number of risk related issues that arise across various industries and stages of the credit lifecycle. L2C Scores are derived from standard or custom models created to solve specific problems or issues unique to a line of business or a specific segment within that line. Whether an L2C model is custom or generic, the output will always be an L2C Score.
The L2C Score delivers more. It confers a deeper level of insight, clarity and confidence derived from a combination of highly skilled L2C resources, superior data, advanced methodology and sound logic. The L2C Score delivers proven results that lead to better decisions and higher profits.
In addition to the L2C Score, L2C delivers solutions for Marketing, Credit Capacity, Fraud and ID Verification. Visit our Solutions page for more detail on our full line of offerings.
Who are your clients?
L2C has many clients in the Banking, Financial Services, Telecom, Cable, Utility, Alternative Lending, Rental and Healthcare industries using various standard and proprietary models. These firms are well recognized organizations and many appear in the Fortune 100.
Do you offer customized models?
Yes, L2C models can be created to predict specific outcomes for consumers. These models can be tailored for line, industry segment, business type and/or size. They can also be designed to include or exclude FCRA regulated data.
How are your credit models are developed?
All of our credit models are developed from lender-supplied data and associated industry tradeline performance. For instance, our standard credit card model is built from multiple issuer supplied data to predict likelihood of severe delinquency during a 12 month period after approval. L2C models are usually updated annually, based on new lender supplied performance.
How do you ensure your models comply with all relevant regulation?
L2C maintains an internal legal department certified in Fair Credit Reporting Act matters and current in all relevant statutes, regulations and other pronouncements. In addition, L2C retains the services of outside counsel who served previously as General Counsel for one of the three nationwide reporting agencies. The L2C legal function maintains close working ties with the staff designing services, selecting and using data of various types, to assure only permitted uses. This department also manages the adverse action compliance function, including consumer inquries and responses. Through close cooperation with the Operations section of L2C, Legal assures all standards of security of consumer data are met and maintained.
What can you tell us about L2C support and maintenance?
Support is available 24x7. Maintenance windows, if needed, would typically occur Sunday mornings.
What other types of services besides scoring and model building does L2C provide?
- Data Processing
- Data Aggregation
- Merge/purge
- Suppressions
- Database optimization.