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Written by / Agency / Source: LexisNexis (a division of Reed Elsevier Inc.)

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Small Business Financial Exchange, Inc. Approves LexisNexis® Risk Solutions As SBFE Certified Vendor™ - LexisNexis to develop exclusive SBFE member products that bring clarity to small business credit decisioning - SBFE.org / LexisNexis.com
Small Business Financial Exchange, Inc. Approves LexisNexis® Risk Solutions As SBFE Certified Vendor™

 

NewswireToday - /newswire/ - Atlanta, GA, United States, 2015/05/28 - LexisNexis to develop exclusive SBFE member products that bring clarity to small business credit decisioning - SBFE.org / LexisNexis.com.

   
 
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LexisNexis® Risk Solutions, a technology, data and analytics company, announced today that the Small Business Financial Exchange, Inc.’s wholly-owned subsidiary, SBFE, LLC, has approved it as an SBFE Certified Vendor to leverage the exchange’s business credit performance data. As a result of this new designation, LexisNexis will build credit reports, scores, attributes and other risk-decisioning products for use by SBFE Members to provide never-before-available insights and predictive capabilities into small business credit risk decisioning.

“SBFE is deeply rooted in the financial industry with a charter to transform how small business lenders share their customer data and is the industry’s most trusted and robust source of small business financial credit information. We are pleased to announce LexisNexis Risk Solutions has qualified to be an SBFE Certified Vendor,” said Small Business Financial Exchange CEO Carolyn Hardin-Levine. “As a Certified Vendor, LexisNexis meets SBFE’s high data security governance, control and independent oversight requirements. SBFE is excited by the new product innovation LexisNexis will deliver to our membership.”

LexisNexis plans to release in the coming months exclusive products that combine its vast U.S. business and consumer data with SBFE payment-performance data. LexisNexis’ U.S. business coverage, culled from more than 13,000 public and other proprietary sources, surpasses other providers’ coverage of small, new and niche businesses. The company’s business and consumer intelligence enables it to solve the perplexing problem of identifying and linking people who are connected to a small business. Additionally, it affords more clarity around complex relationships between businesses and consumers due to a patent-pending, multi-dimensional architecture. These advantages empower SBFE Members to find underpenetrated consumer segments, offer attractive terms while managing risk and manage default risk at multiple stages of the credit lifecycle.

“SBFE Members benefit from the LexisNexis relationship in ways that were unimaginable until this announcement,” said Rick Trainor, CEO, Business Services, LexisNexis Risk Solutions. “The combination of our coverage of U.S. businesses and ability to link consumer risk data with the SBFE financial data will yield a significant increase in the predictive power of SBFE Members’ small business credit risk decisioning so that Members can grow their businesses more profitably.”

Today’s news reflects an extension of the longstanding relationship between SBFE and LexisNexis. LexisNexis’ big data technology, processing efficiencies and data management expertise are the cornerstone of its relationship with SBFE.

Trainor concluded,“Lenders just haven’t had a robust combination of financial intelligence to make highly confident decisions about small business lending. That roadblock now has been removed.”

About LexisNexis Risk Solutions
LexisNexis Risk Solutions is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries. LexisNexis and the Knowledge Burst logo are registered trademarks of Reed Elsevier Properties Inc., used under license.

About Small Business Financial Exchange, Inc. and SBFE, LLC (SBFE®)
The Small Business Financial Exchange, Inc. and SBFE, LLC (collectively known as SBFE) is the leading source of US small business credit information. Established in 2001 as a non-profit organization, today the exchange houses information on about 24 million businesses in its SBFE Data Warehouse™, and enables blind information exchange among its Members. Through its resources, relationships and SBFE Certified Vendors™, SBFE makes possible innovative risk management solutions by providing industry insight and analysis of aggregated small business financial data to its Members. SBFE (sbfe.org) sets the highest standards for data quality, integrity of use, data governance and information security for SBFE Data™ to protect its Members and their customers' information. SBFE is the only Member-controlled organization of its type and is a trusted advocate in promoting the needs of the small business lending community.

 
 
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Written by / Agency / Source: LexisNexis (a division of Reed Elsevier Inc.)

 
 

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Small Business Financial Exchange, Inc. Approves LexisNexis® Risk Solutions As SBFE Certified Vendor™

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LexisNexis® Risk Solution | SBFE, LLC
Publisher Contact: Jean Creech Avent - LexisNexis.com 
770-862-7978 jean.creech[.]lexisnexis.com
 
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