Pre-Approval Of One Reviews & Product Details

Pre-Approval of One allows consumers to initiate an application for credit with no impact to their credit score (soft-inquiry). Lender evaluates applicant’s creditworthiness and offers a commitment to lend, subject only to collateral requirements or conditions. A hard inquiry will be posted if the consumer moves forward with taking the pre-approved offer and meets the conditional credit requirements.Benefits:- Help Reduce Consumer Abandonment - Create a single, low-friction experience for credit seekers as well as credit applicants- Streamline the PII Ingest Process - Help boost take rates by collecting all the information that you need to underwrite the consumer at the time of ingest- Increase Stickiness - Establish consumer expectations and acknowledging they are valued by reducing their time commitment in the application process

At Equifax, our innovative data products and solutions help fintechs find and acquire the right customers, reduce fraud risk, and accomplish more with cloud-native technology and customer insights.

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Overview Provided by:

Nick Stephan

FinTech Strategy and Execution Director at Equifax