Trust Science is backed by a world-class team of industry experts and leaders. Trust Science is led by Evan Chrapko, Founder and CEO, who has led an array of technology disruptor companies to deliver over $1/2B of shareholder gains. Its C-suite executives include individuals with diverse backgrounds from the visionary behind Netflix’s technical incubation to a leader in the development of the VantageScore to security leaders from one of North America’s largest airports to sales leadership from Oracle. The team also is composed of numerous PhDs and senior technology, risk, and analytics experts, who each bring their unique and valuable contributions into creating an industry-leading suite of offerings for lenders.
Below is our recent interview with Evan Chrapko, the Founder, Chairman & CEO at Trust Science:
Q: Could you provide our readers with a brief introduction to your company?
A: Over 90 million consumers (approximately one in five adults) in North America lack an accurate conventional credit score, despite many of these individuals demonstrating financially responsible behaviors outside of the traditional credit markets and being incredibly creditworthy individuals – we call these people Invisible Primes™ or Hidden Primes™. Trust Science is a financial technology software as a service (SaaS) company that empowers consumer lenders to find the Invisible Prime™ borrowers that they would have otherwise declined using explainable artificial intelligence (xAI) technology and FCRA-compliant data from Lead to Loan™. In doing so, Trust Science enables lenders to expand their lending capabilities and extend access to credit and financial services to more deserving individuals, helping resolve the systemic Credit Catch-22™ and build a financially inclusive on-ramp to the modern economy.
Q: Any highlights on your recent announcement?
A: Trust Science is incredibly proud to partner with ConsumerCapital Canada to enable One-Touch Lending™, with financially inclusive, automated, and accurate credit decisioning at the first instance that a consumer expresses the need for a loan. Through the automation of the entire credit decision process from initial contact down to final approval, lenders leveraging this Trust Science-powered solution are able to effectively become a Lender in the Cloud™ and optimize the entire lending business with reduced underwriting and overhead costs. Beyond simple automation, ConsumerCapital Canada is also able to leverage Trust Science’s unique and proprietary technology and methods of combining a wide array of data types (such as banking data and credit bureau data) to get a more comprehensive picture of a consumer’s true creditworthiness, enabling it to find and offer credit to many more deserving Hidden Prime™ consumers that otherwise may have been declined.
Q: Can you give us more insights into your offering?
A: Trust Science’s Credit Bureau+™ platform leverages cutting-edge explainable AI and machine learning technology to combine an array of FCRA-compliant data (such as banking data and credit bureau files) to empower consumer lenders to find the Invisible Prime™ borrowers that they would have otherwise declined from Lead to Loan™. This combination of advanced adjudication models and expanded data sources allows lenders to get a more comprehensive picture of a consumer’s creditworthiness in a financially inclusive manner. The platform can then recommend risk-optimized decisions and automate the entire lending process from initial marketing and lead acquisition (where Trust Science can optimize spend on qualified and high-likelihood borrowers) down to the full loan offer, including optimized amounts and repayment terms. Lenders leveraging Trust Science solutions from our full line of decisioning solutions to our highly predictive credit score (our SixºScore™) to our targeted lead acquisition and marketing services have been empowered to confidently penetrate previously unknown markets, reduce costs, and extend credit to millions of consumers without increasing risk: lenders have observed up to 201x ROI by implementing Trust Science.
Q: What can we expect from your company in the next 6 months? What are your plans?
A: Trust Science expects to continue the rapid growth that earned it the #20 position in the Globe and Mail’s 2022 list of Top Growing Companies as it continues to empower more lenders to make more financially inclusive and risk-optimized decisions. Trust Science continues to develop and improve its technology and models to remain on the leading edge of credit assessment innovation and to better serve both lenders and their customers.Activate Social Media: