The newest credit evaluation scoring tool from VantageScore launched Wednesday and is designed in part to benefit auto financing.

VantageScore announced the availability of its newest tri-bureau credit score model, VantageScore 5.0.

Building on VantageScore’s history of credit score innovation, VantageScore 5.0 utilizes the company’s all-new, patent-pending attributes to offer enhanced insights on consumer creditworthiness.

According to a news release, VantageScore 5.0 can provide an additional predictive lift of up to 9% on unsecured loans, including credit cards, retail cards and personal loans, as well as auto loans, compared to VantageScore 3.0.

The company also claimed VantageScore 5.0 is the only available nationwide tri-bureau credit score trained on post-pandemic consumer loan data, during which consumer credit behavior changed significantly.

Other key features of VantageScore 5.0 include:

—Enhanced predictive power

—Optimized for unsecured loan and auto loan origination

—Superior model stability

VantageScore is available now from all three national credit reporting companies: Equifax, TransUnion and Experian.

Yazel Pardo is vice president and head of credit risk at Patelco Credit Union, which is a full-service, not-for-profit financial cooperative based in Merced, Calif., with nearly $10 billion in assets and more than 550,000 members nationwide.

“Innovation is central to how Patelco serves our members. Our evaluation of VantageScore 5.0 demonstrated meaningful improvements in predictive performance among underserved populations, helping us identify additional opportunities to responsibly extend credit,” Pardo said in the news release from VantageScore.

“Bringing VantageScore 5.0 into production is another step in our shared commitment to using modern analytics to better serve our members and communities,” Pardo added.

Optimized for unsecured lending and auto loans, VantageScore executive vice president and chief data scientist Andrada Pacheco highlighted VantageScore 5.0 is built on proprietary, patent-pending GAIN attributes that can capture real-time credit behavior and historical trends to improve predictive performance across the entire range of consumer credit tiers.

VantageScore also pointed out that early lender adopters like Patelco Credit Union are already confirming the model’s ability to create more precise, data-driven lending decisions.

“The credit landscape has evolved rapidly. VantageScore 5.0 is at the forefront of a new generation of VantageScore credit scoring models built on today’s challenges and tomorrow’s opportunities, providing lenders and fintechs with more granular, data-driven borrower insights, enhanced predictive power and stronger risk segmentation,” Pacheco said.

For more information on VantageScore’s credit scoring models or to pilot VantageScore 5.0, visit the VantageScore website.