FactorTrust, The Alternative Credit Bureau, announces a first-of-its-kind partnership for the company, benefiting both financial institutions and consumers. Altair Customer Intelligence, an analytical solutions expert that helps business leaders maximize the power of their data, has chosen to distribute FactorTrust’s proprietary data to its customers to facilitate more informed business decisions and to help a growing segment of deserving consumers get preapproved for credit offers.

"We are very excited to work with Altair, a long-time industry leader and expert in this area. Our data combined with Altair’s best-in-class analytics gives financial institutions a greater opportunity to uncover creditworthy prospects that are not surfacing via traditional data analysis. Our collaboration gives us an opportunity to expand our business into new markets, with a keen focus on providing consumers the credit that they deserve,” says Greg Rable, CEO of FactorTrust.

Financial institutions doing business in the same market as Altair’s customers have experienced impressive results when FactorTrust’s data is used while considering credit worthiness. Companies generally see 25 percent higher response and approval rates than traditional bureau campaigns, and the FactorTrust cost-per-booked-account is significantly lower than that of traditional bureaus.

“Altair has been a thought leader for many years, and our partnership with FactorTrust is no exception. To generate revenue, critical decisions must be based on solid data and analytics. FactorTrust is the leading alternative credit data source in the market. We are eager to have access to their high quality data to provide deeper knowledge to our customers, ultimately advancing their businesses through improved response and approval rates,” says David Hadaway, CEO of Altair.

FactorTrust was the pioneer in collecting the most current alternative credit data available from its data contributors in real time and making it easily accessible to all its lender-customers.