Sentences with phrase «heavily on credit bureaus»
«We rely heavily on credit bureaus to do KYC,» he says, adding that the new FINTRAC regulations now allow Trulioo and other data firms to use driver's licenses, customer phone bills and Social Insurance Numbers to do these checks.
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Seeking new credit lines is a negative in the credit bureaus» credit score algorithms and, besides, until 12 months of payment history exist for each of the new accounts, the effect on a borrower's credit score is heavily muted anyway.
Whether or not you're able to make your repayments on time is the most heavily weighted factor credit bureaus consider when calculating your score.
Seeking new credit lines is a negative in the credit bureaus» credit score algorithms and, besides, until 12 months of payment history exist for each of the new accounts, the effect on a borrower's credit score is heavily muted anyway.
Meanwhile, newer alternative data credit bureaus that focus more heavily on nonbank credit histories can provide a broader view for lenders and creditors — and help greatly expand financial inclusion.
Whether or not you're able to make your repayments on time is the most heavily weighted factor credit bureaus consider when calculating your score.
Despite the credit bureaus investing in VantageScore and advertising it heavily on their websites it failed to gain much traction it's currently used in less than 10 % of lending decisions.