PayNet Advanced Score of Scores™
PayNet Advanced Score of Scores (PASS) enables lenders to improve efficiency and decision strategies with a single, blended score. This empirically derived statistically sound score is ideal for lenders that may lack resources, time or sufficient historic data to build a statistical model.
BENEFITS TO USERS
Recent analysis of PASS in a banking environment demonstrated powerful results:
- ROC = 0.820, a 36% increase in predictive lift over using just a single commercial credit score
- K-S = 49.3, a 39 % increase in predictive lift over just a single commercial credit score
- This increased predictiveness can be used to reduce losses by 26% without reducing originations, or to increase approvals by 16%, representing a substantial growth opportunity.
ABOUT PAYNET ADVANCED SCORE OF SCORES
PASS delivers a single, comprehensive, composite score using commercial and personal credit information from multiple sources. It leverages, builds upon and extends credit scores that are already being used. Hence, it can be implemented easily, with limited disruption to current processes.
The power of combining scores is illustrated by a joint odds table. For instance, as shown in the table below, credits which are Below Average by Score A alone can be rationalized further by Score B for better risk discrimination.
PASS Integrates with custom rulesets, such as “don’t ever automate credit for certain industries,” providing flexibility for business needs and allows for customization of the score to accommodate other factors if desired. The resulting scores can be mapped to risk ratings.
TO LEARN MORE HOW PASS CAN IMPROVE YOUR DECISION MAKING, CONTACT US TODAY.