LexisNexis® Risk Solutions, a technology, data and analytics company, has qualified and been approved as an SBFE Certified Vendor™. LexisNexis announced in its press release that it plans to 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 pleased to announce LexisNexis Risk Solutions has qualified to be an SBFE Certified Vendor,” said SBFE CEO Carolyn Hardin-Levine. “As a Certified Vendor, LexisNexis meets SBFE’s high data security governance, control and independent oversight requirements. SBFE is excited about the new product innovation LexisNexis will deliver to our membership as a Certified Vendor.”
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’s U.S. business coverage, culled from more than 13,000 public records and proprietary sources, will provide unique coverage of small, new and niche businesses to help solve the problem of identifying and linking people who are connected to a small business. LexisNexis intends to 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 will 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 a new relationship between SBFE and LexisNexis. Hardin-Levine explained. “While SBFE contracted with LexisNexis several years ago to host our SBFE Data Warehouse, being approved to receive SBFE Data to build products for our Members as a Certified Vendor is a separate and distinct arms-length relationship between our organizations.”