Acxiom Corp., Little Rock, AR, yesterday debuted a solution designed to help financial institutions find and target customers who are most likely to meet the institutions' approval standards through invitations-to-apply promotions.
The solution, Ranking Invitation to Apply Approvals, is based on Acxiom's InfoBase data elements along with new proprietary market indicators developed by Acxiom.
RITAA is a measure that can predict the likelihood that a customer who responded to an invitation to apply for credit will subsequently achieve approval.
RITAA is not based on credit data and does not determine credit worthiness but instead uses various new proprietary data systems. The information helps financial marketers create a model-scoring method for targeting customers who have the potential for credit approval.
The new data system also offers an expandable universe of possible customers using a scoring mechanism to discover prospects that might not be selectable by conventional standards.