Annual Trends Preview: Key Clarity Findings from 2017’s First Three Quarters

Analysts from Clarity Services, the largest curator of subprime credit data in the industry, reviewed data from the first three quarters of 2017 (Jan. 1 – Sept. 30) to get a general sense of where the market is heading.

Overall, the year can largely be seen as a tale of generational percentages.

Millennials and Gen-Xers combined for nearly 80 percent of the industry’s loans, with millennials (1981-1997) accounting for 40 percent inquiries and Gen-Xers (1965-1980) consisting of 38 percent. Baby Boomers (1946-1964) the Silent Generation (1928-1945) and Gen Z (1974+) collectively generated 23 percent of inquiries.

Given the vast purchasing needs from Millennials and Gen-Xers within the alternative credit data market, prioritizing the borrowing needs of these two generations is a safe assumption.  

During the first nine months of 2017, Clarity data collected 5,666,666 tradelines, with 2,904,153 coming from unique borrowers. The following contextualizes how alternative financial credit was used:

These findings will help us better understand the trends of 2018’s alternative credit market, and who may be best suited to leverage Clarity data.

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