Jaywing said that businesses were often too focused on the cost of data used for the credit application process, which can result in limiting the range of data used to support risk analysis.
The company said that Smartdecisions would allow users to access a range of data sources, including credit bureaux, via an online link that would make the risk analysis process more accurate for lenders.
The package works by making decisions based on individual cases and the likelihood of credit abuse occurring. The results are then used to calculate the net present value of each application, which determines which cases should be rejected.
Andy Gardner, managing partner at Jaywing, said the software would allow its clients to "arrive at more well informed decisions" on credit applications.
"The 'bigger picture' approach [of Smartdecisions] means risk assessment can reach a new level of accuracy, and will have a positive impact when it comes to the profitability of credit lending," he said.
The package follows on from Signals, which was released in November 2006, and allows marketers to identify key dates in a customer's life, including moving house and having a baby.
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