As organizations continue to struggle to optimize their top line and bottom line goals, the use of smart analytics to achieve operational excellence becomes imperative. The joint Nuevora/Scorelogix solution will enable companies to develop powerful predictive insights from their data, thereby, powering smarter decisions and better outcomes
San Ramon, Calif. (Vocus) May 5, 2010
Nuevora, a leader in the delivery of Outcomes Research & Analytics to organizations globally, today announced a strategic partnership with Scorelogix, the leader in income-risk based credit scoring and the inventor of industry’s first Job Security Score and Income Stability Score which predict borrowers’ ability to pay and consumers’ ability to buy.
The partnership enables Nuevora to innovate and bring to market the most accurate predictive analytics solutions by embedding Scorelogix’s income-risk based credit scores and prospect scores into its solution frameworks, while Scorelogix is now able to expand the use of its proprietary consumer risk scores and ZIP level economic forecasts in helping customers address a wide variety of business problems.
“As organizations continue to struggle to optimize their top line and bottom line goals, the use of smart analytics to achieve operational excellence becomes imperative. The joint Nuevora/Scorelogix solution will enable companies to develop powerful predictive insights from their data, thereby, powering smarter decisions and better outcomes,” said Phani Nagarjuna, CEO of Nuevora. As an example, a mortgage provider can predict potential delinquencies 12/24 months out with superior accuracy from active perfectly credit-positive mortgage payers; while, a marketer can predict the potential purchases of a given a product from a prospect pool at different price points and time frames, added Mr. Nagarjuna.
”The traditional credit bureau scores are not accurate and have caused banks to lose billions of dollars in credit losses. This is because credit bureau scores have many limitations: they are reactive scores; cannot score some 50-70 million people with limited credit histories; and most importantly they do not factor income risk in spite of the fact that unemployment is the key driver of consumer delinquencies” said Suresh Annappindi, CEO of Scorelogix. Scorelogix’s innovative Job Security Score overcomes these limitations as it uses an advanced analytical model that factors income risk and the impact of economy on consumers in predicting their creditworthiness and ability to buy, added Mr. Annappindi.
Nuevora’s custom analytics solutions enable companies to improve top-line and bottom-line performance across marketing, risk management, and customer management functions. The solution is driven by a comprehensive framework comprising analytics strategy development to predictive modeling, advanced analytics, reporting & dash boarding, data management and model management services. By embedding Scorelogix’s proprietary tools into its solutions, Nuevora will now be able offer to organizations the most accurate predictive insights ever possible to drive effective decisions.
Founded in 2003, Scorelogix is an innovative consumer credit scoring and risk analytics company serving the unaddressed needs of banks and marketers. Scorelogix is a pioneer in income-risk scoring and the first company to invent a patent-pending scoring system that uniquely predicts consumers' income risk and their future ability to pay resulting in better, more efficient credit decisions and marketing campaigns.
Scorelogix’s proprietary income-risk based credit score, the Job Security Score™, predicts borrowers’ ability to pay and creditworthiness that is not captured by traditional credit bureau scores and helps lenders predict risk accurately and reduce credit losses. Scorelogix’s income-risk based prospect score, the Income Stability Score™, predicts consumers’ ability to buy and allows marketers improve response rates and find better customers.
Scorelogix also offers many proprietary ZIP level economic indicators which include the Local Economic Health Index™, Job Security Index™, and the Unemployment Rate Index™, which are computed for over 43,000 ZIP codes every month. Scorelogix’s patent-pending products are marketed to the credit card companies, banks, credit unions, auto finance companies, and direct marketing companies and help them acquire, retain and manage customers more profitably.
Scorelogix’s customers include some of the leading banks, credit unions and database marketing companies. For more information, please visit Scorelogix.
Nuevora® is a leading solutions provider in the delivery of “Outcomes Research & Analytics” – predictive insights that drive valuable business outcomes.
Nuevora delivers custom research and advanced business analytics solutions tailored to address specific business problems. Our unique application of sound methodologies and process knowledge to analytical rigor often enables our clients to make their processes smarter and efficient rapidly. Nuevora’s analytics practice focuses on embedding predictive insights into revenue impacting business processes thereby fueling smarter decisions and better outcomes in the areas of marketing, customer management, and operational risk management.
Leading organizations achieve higher levels of customer profitability and marketing ROI in partnership with Nuevora. Nuevora's solutions transform disparate sources of structured and unstructured operational data into actionable analytics delivered in a timely manner to the decision makers responsible for driving specific and targeted outcomes within an organization or a department.
Nuevora is led by leaders who have the proven experience in generating marketing excellence and customer loyalty at several world-class organizations. Leveraging a global delivery model, Nuevora delivers faster “time-to-value” and significant “cost-efficiencies” to its clients.
Some of the best run organizations partner with Nuevora to achieve superior business outcomes through knowledge-based competition. We are headquartered in the Silicon Valley. More info is also available on our website Nuevora.
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