Agoura Hills, CA., January 29, 2013 — The Predictive Analytics group at Interthinx announced today the availability of new industry data for LookAhead®. Powered by the patented Dual-time Dynamics approach, LookAhead can now be purchased with industry data sourced from Equifax and used by retail lenders across all consumer asset classes.
LookAhead is scenario-based forecasting software from Interthinx that is used by lending institutions worldwide to provide control over loss forecasting and stress testing. It provides lenders with a repeatable and transparent process accompanied by support and training from experts.
“By adding industry data to LookAhead, banks will now have a more precise way to benchmark historical performance in their own retail portfolios against the industry as a whole and to use the data to improve their forecasting models,” stated Michael Smith, chief technology officer and chief architect at Interthinx. He noted that comprehensive industry data based 100 percent on loans and not on samples is not readily accessible. The LookAhead industry data and industry-based economic response models enable banks to build more robust models than would be possible using only the bank’s own data.
“Clients using LookAhead will be able to leverage industry data for modeling products such as auto, mortgage, home equity, retail cards, credit cards, student loans, and consumer finance loans using segmentation across nine U.S. census regions and four origination risk bands,” Smith said.
“This most recent enhancement to the LookAhead product is a great example of how Interthinx approaches its primary mission to help banks adapt to the changing business climate,” said Jeff Moyer, Interthinx president. “We continue to develop our products and services in direct response to financial industry requirements created by complex new governmental regulations.”
Interthinx, a Verisk Analytics (Nasdaq:VRSK) subsidiary, is a leading national provider of comprehensive risk mitigation solutions focusing on mortgage fraud, collateral risk and valuation, regulatory compliance, forensic loan audit services, loss mitigation, and loss forecasting. With more than 20 years of experience in customizable risk evaluation technology, Interthinx offers proven and effective predictive analytics to the residential mortgage industry through its experience with millions of loan applications and fraud incident data from thousands of monthly loan reviews. Throughout the mortgage life cycle, the Interthinx suite of services can increase the value of client portfolios with its comprehensive and holistic approach to loan quality and compliance. Winner of multiple awards for technology, Interthinx helps clients reduce risk, increase operational efficiencies, satisfy regulator demands, manage data verification, remain compliant,and mitigate loan buybacks. The Interthinx quarterly Mortgage Fraud Risk Report is a standard for the financial services industry.