Experian® has announced a new approach and a new credit scoring model. Intelliscore PlusSM Version 2 will go live on Monday, April 22. Intelliscore Plus Version 2 provides several key enhancements:
- An innovative emerging market model segment for new businesses
- An option for an enhanced “blended” model using information on both the business and the business owner
- A new risk class ranging from 1 (low risk) to 5 (high risk), providing a quick assessment
How does this announcement affect a business?
Intelliscore Plus Version 2 will now be the engine behind the 1 to 100 IntelliscoreSM currently in use. The scoring scale is unchanged, and the report and other delivery methods are the same. A user will now receive the 1 to 5 risk class. The migration date is April 22.
In preparation for this transition, customers are asked to go to: http://www.experian.com/business-information/credit-risk-management.html. The site includes tools to help to prepare, including material on the new Intelliscore Plus product, risk classes and a sample report.