--- title: Removing the Cloak of Credit Invisibility description: Removing the Cloak of Credit Invisibility --- [![Epic River](https://blog.epicriver.com/hs-fs/hubfs/color-transparent-logo.png?width=320&name=color-transparent-logo.png "Epic River")](http://www.epicriver.com/home) - [Home](https://www.epicriver.com/) - [About](https://www.epicriver.com/about) - [Our Solution](https://www.epicriver.com/) - [News](https://epicriver.com/#) - [Contact](https://www.epicriver.com/) - [Support](https://knowledge.epicriver.com/knowledge/kb-tickets/new) - [Knowledgebase](https://knowledge.epicriver.com/knowledge) ![blog_bg-2023-1](https://blog.epicriver.com/hubfs/blog_bg-2023-1.png "blog_bg-2023-1") # Removing the Cloak of Credit Invisibility Posted by [Jessica Toney](https://blog.epicriver.com/author/jessica-toney) | Mar 20, 2018, 10:16:06 AM - [Tweet](https://twitter.com/share) [![](https://blog.epicriver.com/hs-fs/hubfs/Imported_Blog_Media/credit-invisibles-1.jpg?width=299&height=260&name=credit-invisibles-1.jpg)](https://www.midoregon.com/blog/the-credit-invisibles/who-are-the-credit-invisibles-infographic-3-17/) Many financial institutions are looking for competitive differentiation in order to obtain new, creditworthy consumers. The problem is that most of these creditworthy consumers already do business with a financial institution. Trying to convince consumers to switch from their current banks or credit unions can be a daunting task. It might seem that the only other type of consumers available are those with poor credit; however, the Consumer Financial Protection Bureau (CFPB) published a [report](https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/201612_cfpb_credit_invisible_policy_report.pdf) outlining the 26 million consumers that are credit invisible - meaning that they do not have any credit record. This in no way confirms that the consumer isn't creditworthy. Even if these consumers had access to loans, the lender would not have the necessary information to make a credit decision. If that number isn't troubling enough, the CFPB found that 30% of consumers in low-income neighborhoods do not have any credit history with a nationwide consumer reporting agency. Here at Epic River, we have spoken with several financial institutions that only leverage their existing relationships and target creditworthy consumers to generate new revenue. While this has been an effective approach, expanding the reach to the group of credit invisible consumers via patient loans has an even greater effect. By utilizing our patient account financing program, you are not only collecting new interest income but molding new, creditworthy consumers that now have a relationship with your financial institution without any additional risk. Keeping in the Community Reinvestment Act's (CRA) good graces by reaching these low-income neighborhoods in your community doesn't hurt anything either. **About Epic River** Since its inception in 2005, Epic River has been providing financial institutions with software and services for process and revenue improvement. MyLoans, our Patient Lending solution, partners financial institutions and healthcare providers to offer low interest loans to cover patient balances. Practices, surgery centers and hospitals get immediate funding of their patient’s outstanding balances and patients avoid financial harm. 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