Akcelerant announced Monday a new relationship with Scorelogix, a predictive analytics company out of Newark, Del., that enables the Malvern, Pa.-based company to sell Akcelerant Insight Scores to banks.
Akclerant Insight Scores are available in three flavors, depending on the banks' goals: One score is designed to segment and target desired prospects, while another model is used for approval decisioning, while the third offering is meant to score the likelihood of delinquent account holders to pay back their debts, according to the companies.
What sets the offering apart from FICO? The companies claim the services can score 100% of prospects, including applicants and accounts with thin files, among others.
"Because these scores differ from traditional bureau scores, uniquely factoring things like an individual's income level, stability of future income, and the impact of the economy on one's ability to pay, the use of these scores provides significant lift to both approval rates and an organization's bottom line," said Suresh Annappindi, chief executive of Scorelogix, in a release.
Akcelerant, which counts more than 500 financial institutions in North America, sells software and services.