“We are excited to help eCredable unleash the power of this data…” -Sanjoy Malik, CEO, Urjanet
Atlanta, Georgia (PRWEB)
June 20, 2017
eCredable, The Consumer’s Credit Bureau™, and Urjanet, the world-wide leader for utility data, today announced a strategic partnership to provide extensive access to utility and telecom payment data that can be used in a variety of industries – most notably financial services. eCredable can provide this data to Consumer and Business Credit Bureaus, Lenders, and Credit Card Issuers desiring FCRA compliant data.
Utility and telecom payments fit into the category of so-called “alternative credit data” which has become top-of-mind with the financial services industry. The Consumer Financial Protection Bureau (CFPB) has indicated a strong desire to see companies leverage alternative credit data to create solutions to help consumers and small business owners who are “credit invisible” gain access to affordable financial services. Most utility and telecom companies do not report to the major credit bureaus, creating the need to acquire this valuable information with the assistance of the empowered consumer.
“Since 2009, eCredable has been helping consumers leverage everyday payments for bills like rent, utilities and telecom to build a credit score lenders can use in underwriting credit cards, personal loans, auto loans, and home loans,” said Steve Ely, CEO of eCredable. “Acquiring utility and telecom payment data efficiently and affordably is essential to solving the problem of helping consumers and small business owners demonstrate their creditworthiness, even when no traditional credit history is present. Urjanet helps us address this challenge.”