Preparing for a Downturn? Look to New Data Science
While experts remain uncertain on the exact timing for a market slowing or downturn, the financial services industry wisely continues to prepare for the “ifs” and “whens.”
In preparing for a downturn, adding additional measures to mitigate risk and bankruptcies is critical. With new data science available and solutions that include machine learning and trended data, now is the time to explore new ways to protect your portfolio.
Equifax’s blog post, “Predicting Bankruptcies: Do You Know What You Don’t Know?” explores how lenders can consider new ways – beyond a traditional credit score – to gain a more complete understanding of a consumer’s credit risk.
To speak with an Equifax representative about recession preparedness solutions, please contact us today!