L2C and Zoot Promote Growth in Credit Card Acquisitions for the Financial Sector

Share Article

Joint solution boosts approval rates, revenues without taking additional risk.

News Image
“Our clients consistently show a 15-20% increase in customer acquisition growth rates, at existing risk levels, following the implementation of L2C solutions,” said Mike Mondelli, CEO for L2C.

L2C, Inc., a leader in delivering advanced consumer intelligence solutions, announced today its partnership with Zoot Enterprises, Inc. Zoot is a leading provider of credit decisioning, loan origination and credit risk management solutions. Joint clients of this partnership benefit from increased approval rates in credit card acquisitions without taking additional risk.

“Our clients consistently show a 15-20% increase in customer acquisition growth rates, at existing risk levels, following the implementation of L2C solutions,” said Mike Mondelli, CEO for L2C. “Our data is invaluable for helping issuers increase portfolio growth by identifying more credit-worthy consumers. As a result, L2C’s client base reports significantly improved metrics in numerous areas including marketing, acquisitions, up-sell and cross-sell activities and overall consumer risk assessment.”

Portfolio growth and increased revenues are top priorities for financial institutions today. They need the ability to identify more prospects to present with offers of credit. Customers with limited banking or credit experience can’t be evaluated using traditional data sources alone. Integrating L2C data into the decisioning process for credit cards in the financial services and retail industry brings in the additional insight to approve more customers with less risk.

Zoot has an agency agreement with L2C to provide data for making credit decisions in an instant prescreen environment. Zoot’s independent portal to a network of integration-ready data and service providers, such as L2C, provides its clients with quick and easy incorporation of alternative data into credit decisioning processes. This decreases the cost and time associated with maintaining multiple connections with multiple vendors. Providing an instant decision improves the likelihood a customer will accept the offer, promoting higher customer acquisition rates.

“As the market turns around we are seeing a resurgence of co-branded credit cards and a push for account growth. L2C and Zoot support the acquisition process for retailers and card issuers in this space. The ability to access more comprehensive data and make credit decisions in realtime boosts acceptance rates while reducing costs and minimizing risk for our clients,” said Dennis Dixon, president of Zoot Enterprises.

About L2C
L2C is the nation’s leading provider of advanced consumer scoring and analytics solutions. L2C leverages alternative payment and asset data to create new predictive credit, collection and marketing scores for over 260 million Americans. L2C's clients include leading institutions in the financial service, retail, healthcare, automotive, telecommunication, and media and entertainment industries. For more information regarding L2C or its products and services, please visit http://www.L2C.com or contact L2C at 404-601-3420.

About Zoot
Bozeman, Mont.-based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. banks. Zoot’s rapid, high-volume processing environment is designed to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information. Zoot thought leaders are now featured on http://www.zootweb.com/blog/.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Karen Gordon

Scott Pranger
L2C, Inc.
404-601-3420 2071
Visit website

Media