CashScore can be used to supplement a traditional credit score or as an alternative when a traditional score is unavailable or unreliable. CashScore leverages thousands of financial data points that are missing from traditional credit reports, describing a consumer's key financial factors, like income, assets, expenses, and volatility, and ability-to-pay. CashScores are available for the millions of thin-file and no-file consumers that lack traditional credit history. When credit history is available, the CashScore provides a differentiated, incremental view of risk that improves overall credit decisioning.
No credit history is required to calculate a CashScore. Instead, Prism Data requires only deposit account transaction history (i.e., the digital bank statements) from a consumer’s primary deposit account, with a minimum amount of account activity.
CashScore measures the relative probability of credit default in the next 12 months in rank order on a scale from 0 to 999 (999 being the best possible score). This means that a consumer with a score of 875 is less likely to default on a loan than a consumer with a score of 425.
CashScore FirstDetect measures the relative probability of early payment default or never-pay.
CashScore measures creditworthiness based on income, assets, and expenses—essentially, the money that a consumer makes, saves, and spends on a monthly basis. CashScore is a strong measure of the ability to pay, and includes critical details about financial stability and collateral as well. Consumers that make more than they spend tend to be lower risk and achieve higher CashScores.