Improving Collections Recovery Rates with Employment Data Integration

The use of income data for assessing consumer credit applications is an established pillar of credit risk assessment. However, many current standard collection and employment verification processes are highly manual and costly. With the acquisition of TALX — a data repository of consumer employment verification and income data — Equifax sought to evaluate the impact automated access to employment verification might have on collections recovery rates. This paper summarizes the analysis Equifax performed to validate the degree to which the Employment Indicator separates collection performance within the various ranges of a statistically valid recovery score.

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