TransUnion announced the launch of TruVision Alternative Bank Risk Score, a new system designed to help auto finance sources determine the creditworthiness of “thin- or no-file” applicants.

“This score includes checking and banking data applicable to the short-term lending space and can be used to enhance lenders’ existing underwriting scores,” executives wrote in a statement announcing the launch. “It offers a more holistic view of a consumer’s financial behavior and enhances the accuracy of credit risk decisions.”

Executives cited reports showing only 35% of households earning less than $50,000 per year have access to “mainstream” credit, indicating the need for a scoring model based on banking activities.

Read more at TransUnion