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Neuristics Makes Major Upgrade to The Edge(TM) - Launches Nexcore
Neuristics LLC has introduced and enhanced version of the ground-breaking product, The Edge, to make it a more effective account acquisition and management tool. This new product, deployable in a wide range of methods, will be marketed as Nexcore. As a result, credit card issuers using Nexcore can expect shorter turnaround from prospecting to marketing offer and greater scoring applicability to accounts already on the books.
"Nexcore is a stellar predictive tool for a highly competitive marketplace," said Paul Gorman, CTO of Neuristics LLC. "Enhancements to Nexcore allow us to deliver scores faster and in a more flexible environment. But most importantly, Nexcore helps credit card issuers find new customers."
Nexcore is a predictive model that uses hybrid artificial intelligence techniques to prescreen credit card offers for those who have traditionally been considered non-prime consumers - those who fall within 550 and 670 FICO scores. Expanded features include:
  • Nexcore will have the ability to provide adverse action codes. Previously, neural network scoring models have not been able to provide explanations for why applicants were denied credit.
  • Nexcore will be extended to a full credit spectrum. Originally developed to identify people misclassified in FICO score ranges of 550 to 670, Nexcore will be able to score all prospects.
  • The prediction horizon is being expanded from 18 months to 24 months, which will give issuers a greater range of information on accounts.
  • Nexcore will be able to score thinner files that traditional methods cannot currently score.
  • Nexcore will include expanded behavioral segments that will allow issuers to custom calibrate the scores to minimize adverse selection and improve account acquisition and retention strategies.
Neuristics LLC is currently installing Nexcore with a number of leading credit card banks and is arranging for its availability on a number of credit card service provider platforms.
 
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